Chief Minister K. Chandrasekhar Rao has congratulated the IT department for the impressive growth in IT exports from the State.
Telangana’s exports grew at 17.93% compared to the national average of 8.09% and rest of the nation’s average of 6.92%.
The share of Telangana’s exports in India went up from 10.6% to 11.6% and its share in this year’s growth in national exports was a remarkable 23.5%.
“This clearly indicates that Telangana is poised to be the preferred destination for IT investments in the future,” he said.
The Chief Minister directed the IT department to ensure that all precautions were taken for the smooth functioning of the industry in the wake of COVID-19 pandemic.
IT Minister K.T. Rama Rao and principal secretary Jayesh Ranjan met Mr. KCR and shared with him the IT export and employment data for the financial year 2019-20.
Telangana’s employment grew at 7.2% compared to the national average of 4.93%, and the growth rate in employment is about 50% more than the rest of India.
Mr. Rama Rao said that despite the onset of COVID during the last quarter of the financial year 2019-20, the export growth from Telangana managed to record 17.93% growth for the full financial year.
He said that the Hyderabad IT ecosystem has the agility and resilience to overcome the effects of COVID. Several investors are actively engaged in discussions with the department and soon there would be some announcements.
The department will release the progress report on June 1, highlighting the achievements during 2019-20, for the sixth consecutive year.
Mr. Jayesh Ranjan said that under the IT4TS campaign, several employees of the IT industry in Hyderabad contributed their salaries and with companies matching equally, the proceeds were used for procuring high-end medical infrastructure for testing COVID and other viruses subsequently in government hospitals.
Several companies also contributed towards PPEs, ventilators and other relief measures. The IT sector in Hyderabad was able to raise ₹70 crore collectively towards the fight against COVID-19.
During the financial year 2019-20, several marquee investments have taken place in Hyderabad, including the inauguration of Amazon’s world’s largest facility and Micron’s largest R&D centre globally.
Tech Mahindra and Cyient opened their centres in the Tier-2 location of Warangal. Several MNCs were showing interest in the eastern part of the city too.
Mr. Rama Rao also informed the Chief Minister that the commercial space absorption in the city during the first two quarters of 2019-20 topped all metros in India in growth as well as in absolute terms.
