Telangana IT/ITeS exports clock 26 pc growth in FY22

Telangana boasted a phenomenal growth in the IT/ITeS sector with an increase of 26.14 percent in exports at Rs 1,83,569 crore compared to Rs 1,45,522 crore over the previous year, a state government report said on Wednesday.

The employment in the IT/ITeS sector has also increased by 23.78 percent to reach 7,78,121 during the 2021-2022 period adding 1,49,506 new jobs.

”For the year 2021-22, Telangana once again boasted a phenomenal growth in the IT/ITeS sector with an increase of 26.14 percent in the IT/ITeS exports over the previous year recording a total of Rs 1,83,569 crore in IT/ITeS exports,” the report said. (Exports for 2020-21: Rs 1,45,522 crore) As per the estimates by NASSCOM, approximately 4,50,000 net new jobs were added to the IT sector nationwide. Telangana contributed to a third of the net new national employment in the IT sector.

The national exports (including Telangana) grew at 17.2 percent while Telangana’s alone went up at a significantly higher rate of 26.14 percent beating the national growth rate.

”When we started as a newborn state of Telangana in 2014, our IT exports were Rs 57,258 crore and our IT employment was 3,23,397,” Minister for IT and Industries KT Rama Rao said unveiling the report.

He said that several institutions and initiatives were grounded in making Telangana a preferred destination in emerging technologies.

According to the report, the number of estimated startups in the state rose from 400 in 2016 to about 2,000 now, and T-Hub will further boost the growth of this ecosystem. PTI