Telangana continues its impressive performance in the IT sector, achieving a remarkable growth rate of 31.4% in IT exports for the fiscal year 2022-23. This growth far surpasses the country’s overall growth rate of 9.36%.
The state’s IT exports soared to Rs 2,41,275 crore, a significant increase from the previous year’s Rs 1.83 lakh crore. This staggering Rs 57,706 crore surge represents the largest increase in IT exports in a single financial year, according to IT Minister K.T. Rama Rao.
Furthermore, Telangana witnessed a net addition of 1.27 lakh jobs in the IT sector, accounting for 44% of the country’s total of 2.9 lakh jobs. This surge in employment brings the cumulative number of people working in the sector to 9.05 lakh, reflecting a notable growth of 16.2% compared to the previous year’s figure of 7.8 lakh.
Rama Rao highlighted that in the previous year, Telangana accounted for 33% of all IT jobs created in India, underscoring the state’s significant role in driving employment growth and establishing itself as a prominent player in the Indian IT landscape.
Despite facing challenges such as the cancellation of the Information Technology Investment Region (ITIR) sanctioned by the current government and the adverse impacts of the Covid-19 pandemic, global economic slowdown, and recession, Telangana has achieved these remarkable milestones. These achievements solidify Telangana’s position as a leading destination for innovation and investment in the Indian IT/ITeS sector.
Rama Rao emphasized that Telangana has not only maintained its growth rate but has also surpassed the national average, showcasing the state’s exponential rise in the IT/ITeS sector. He further noted that IT exports in 2022-23 have exceeded the total IT exports of the united Andhra Pradesh over nearly three decades.
Since the formation of Telangana, IT employment in the state has risen from 3.23 lakh to 9.05 lakh, with the creation of 5.82 lakh new direct IT jobs. This significant increase in IT employment has had a positive ripple effect, resulting in the creation of over three indirect jobs for each direct IT job in the sector.
Rama Rao expressed confidence that Telangana, with its consistent growth and momentum, is on track to achieve its goal of Rs 3 lakh crore in IT exports and generating 10 lakh IT jobs, two years ahead of schedule.
Moreover, Telangana’s IT prowess is expanding beyond the capital city, with Warangal emerging as an alternative IT hub attracting prominent players. Additionally, districts like Mahbubnagar, Khammam, Karimnagar, Nizamabad, Siddipet, and Nalgonda collectively employ 13,000 people, with plans to announce an additional 2,500 jobs shortly.
The T-Fiber initiative has played a significant role in connecting districts, achieving end-to-end service-ready connections in 12 districts, with four more districts set to be service-ready by the end of June. This network is poised to launch high-speed internet services to households, government institutions, private enterprises, and IPTV services to households.
The launch of the ninth annual report of the Department of IT, Electronics, and Communications was attended by IT Principal Secretary Jayesh Ranjan, Chief Relations Officer Amarnath Reddy Atmakuri, Nasscom Director Srikanth Srinivasan, VSEZ Deputy Development Commissioner Srinivasu Kaligotla, and STPI Joint Director Bharath Kumar.
