FTAPCCI plans to set up incubation centres in Telangana, AP

Niti Aayog will grant around Rs.10 crore to set-up the incubation centres.

Sharath Chowdary 

The Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry has applied to NITI (National Institution for Transforming India) Aayog to establish start-up incubation centres in Andhra Pradesh and Telangana. 

Among the 15 verticals suggested by the Niti Aayog, FTAPCCI has chosen the areas of agriculture and allied activities for AP, and manufacturing and engineering for Telangana. The incubation facility in Telangana will be set up in Hyderabad, while the facility in AP may be started either in Vijayawada or Visakhapatnam, the industry body President Ravindra Modi told The Dollar Business Bureau

“The incubation centres will be set up based on the conditions and guidelines framed by the Niti Aayog. The facility should have a minimum 10,000 sq ft area and other basic infrastructure facilities. With the assistance from Niti Aayog and matching grant from the State governments, the incubation facilities are likely to begin after three-four months. They will provide essential support to the start-ups in both the states,” he said in a meeting on Friday. 

Niti Aayog would assist financially for these incubation centres by granting Rs.10 crore (Rs.2 crore per year) over a period of five years. Though FTAPCCI may not directly fund in the incubated start-ups, it would offer hand holding support to their ideas until they translate into reality. Finance is never a problem for good ideas as there are many banks ready to give credit. Moreover, Mudra Bank is providing loans up to Rs.1 crore without any collaterals, Modi informed. 

He further said, “Keeping in view the changing dynamics of business, FTAPCCI is associating with universities to connect industry and academy. Industry is facing lack of skilled manpower while educational institutions fail to delivering practical knowledge. To bridge this gap, we are asking colleges and universities to collaborate with us in facilitating industry workshops. So far, we have signed MoUs with Symbiosis International University, Osmania University and Institute of Public Enterprise.” 

Gowra Srinivas, Senior Vice President of FTAPCCI said that the chamber is also concentrating in women empowerment. They are planning a new wing which will organise seminars to advise on business ventures related to e-commerce and small scale industries. With more than 3,200 members and 160 associations, FTAPCCI is the biggest chamber in India, he said. 

Arun Luharuka, Vice President of the chamber claimed that FTAPCCI had been crucial in the enactment of Telangana industrial policy. The chamber is redressing the grievances of the industry in both the states. It is also continuously disseminating the information to the stake holders on all latest developments such as GST reform and income declaration scheme. 

The FTAPCCI management team has explained their vision for their centenary year and future activities. They have also announced an exclusive research wing to represent government with data driven reports. They are aiming for a number of activities for industrial growth in both the states. 

(L-R) Gowra Srinivas, Ravindra Modi and Arun Luharuka announcing the vision for their centenary year in Hyderabad on Friday.