Information technology (IT) exports from Telangana were a little over ₹1.09 lakh crore in 2018-19, an increase of nearly 17% from the previous fiscal, a performance coming on the back of the State emerging as a one of the top destinations for companies in the field.
It was the first time the ₹1 lakh crore mark was crossed — in 2017-18 the IT exports stood at ₹93,442 crore. Employment in the IT sector of the State grew 14.2% to touch 5,43,033 last fiscal. In 2017-18, employment number was 4,75,308.
Former IT Minister K.T.Rama Rao tweeted “Delighted with 2018-19 Hyderabad IT sector performance. My compliments to the hardworking and talented team of IT department ably led by @jayesh_ranjan Garu (sic).”
“Let me also remind us all that we have almost achieved the target that we had set for ourselves of doubling the IT exports in 5 years – from ₹56 thousand crore plus in 2013-14 to ₹1,09,219 cr. Onwards & upwards,” he said in another tweet.
IT Secretary Jayesh Ranjan said an appreciable part of “our growth story is that the existing companies are expanding heavily. This is a strong endorsement of the value proposition they get in Hyderabad and Telangana.”
On the growth, he said it was Mr. Rao who had set an ambitious target before the department to double the IT exports in next five years. “I am delighted that we have been able to make that challenge a reality.”
The IT export performance of Telangana is way ahead of national average. The Electronics and Computer Software Export Promotion Council projected an 8-10% increase in the country’s IT exports in 2018-19.
