Telangana IT/ITeS exports clock 26 pc growth at Rs 1.83 lakh crore in FY22

Hyderabad: Telangana boasted a phenomenal growth in the IT/ITeS sector with an increase of 26.14 per cent 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 per cent 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 per cent 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 per cent while Telangana’s alone went up at a significantly higher rate of 26.14 per cent beating the national growth rate.

“When we started as a new born 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 K T Rama Rao said unveiling the report.

Several institutions and initiatives were grounded to make Telangana a preferred destination in the emerging technologies, he said.

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, according to the report.

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