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Telangana’s IT exports rose 26% to over ₹1.83 lakh crore in FY-22- Mrit News

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1.50 lakh new jobs were added in the IT sector, performance surpassed expectations: KTR

1.50 lakh new jobs were added in the IT sector, performance surpassed expectations: KTR

Information Technology and ITeS exports from Telangana increased over 26% to ₹1,83,569 crore in 2021-22, a fiscal that also saw nearly 1.50 lakh new jobs added in the sector in the State.

It was a performance that surpassed all expectations, Minister K.T.Rama Rao said, launching the 2021-22 annual report of his IT Department and asserting that the State is on course to achieve growth targets ahead of the set timelines. With the peformance Telangana not only consolidated its position as an IT powerhouse of Indiia but continued to put up a show better than the national IT exports.

While India’s IT exports, including those of Telangana, grew at 17.2%, the State posted a 26.14% increase, he pointed out.

The ₹38,046 crore increase in the IT and ITeS exports, over the previous fiscal’s ₹1,45,522 crore, was highest in a single year since Telangana formation in 2014. Compared to IT exports of around ₹57,258 crore at the time of the State formation, the present achievement is a 220% growth, the Minister told the gathering comprising IT industry, association leaders and officials.

Since the State formation “we have been able to achieve a CAGR of 15.67%, he added.

Job creation

As many as 1,49,506 jobs were added during 2021-22, which also is the highest in a single year since the State formation. Year-on-year, the increase last fiscal in the number of jobs was 23.78%.

Citing IT industry body Nasscom estimates that peg the net new job creation in the , at 4.5 lakh in the country, he said Telangana thus contributed to a third of the net new national employment in the IT sector.

The headcount in the IT/ ITeS sector in the State now stands at 7,78,121, a manifold increase over the 3.23 lakh jobs eight years ago. Going by the growth in exports and employment generation, Telangana is on course to achieve the ₹3 lakh crore exports and 10 lakh jobs targets set in the 2nd ICT Policy (2021-26), the annual report said.

Mr. Rao said as per the ITIR estimates IT exports from the the united Andhra Pradesh were estimated to reach ₹2,09,221 crore by 2035. “Going with our progress rate, Telangana’s IT Exports will cross the 2035 projections by 2025 despite no ITIR (Information Technology Investment Region) support. We will reach the 25 year target in 15 years,” he said, listing various initiatives of the IT Department and the marqueee investments attracted in the sector by the State.

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