Hyderabad, June 5: Telangana has witnessed a remarkable surge in its information technology exports, registering a growth of 31.44 percent and adding nearly 1.27 lakh new jobs during the fiscal year 2022-23, surpassing expectations.
According to the annual report released by Minister for Information Technology K. T. Rama Rao, the state achieved IT/ITeS exports of Rs 2,41,275 crore during the year, a significant increase from Rs 1,83,569 crore in the previous year, representing a growth rate of 26 percent.
Despite the impact of the Covid-19 pandemic, global recession, and economic slowdown, Telangana showcased exceptional performance in the IT/ITeS sector. Minister KTR highlighted that the state’s remarkable export growth of 31.44 percent during the fiscal year 2022-23 far exceeded the national averages.
The surge of Rs 57,706 crore in exports achieved in the fiscal year 2022-23 is the highest annual rise since the formation of the state in 2014, showcasing Telangana’s rapid progress in the sector.
Furthermore, Telangana generated a substantial number of employment opportunities with the addition of 1,27,594 new jobs during the financial year 2022-23, bringing the total IT/ITeS employment in the state to 9,05,715. This impressive growth represents a year-on-year increase of 16.29 percent compared to the previous fiscal year.
Minister KTR expressed confidence in Telangana’s ability to surpass the targets set in the 2nd ICT Policy 2021-26, aiming for Rs 3 lakh crore in exports and 10 lakh jobs. The state is positioned to achieve these ambitious milestones as early as next year, 2024, two years ahead of schedule.
Highlighting the remarkable progress, KTR emphasized that Telangana has come a long way since 2013-14 when the IT/ITeS exports were only Rs 57,258 crore, and the sector employed 3,23,396 individuals.
The impressive growth in IT/ITeS exports and employment generation reflects Telangana’s commitment to fostering a conducive environment for the technology sector, making it an attractive destination for IT companies and investors.
