Telangana IT exports grow 14 per cent to Rs 85,470 crore in FY17
Hyderabad: Software and services exports from Telangana were up by nearly 14 per cent to Rs 85,470 crore in FY17 from Rs 75,070 crore in FY 16, Minister for IT and Industries K T Rama Rao today said.
"Telangana IT/ITES exports achieved a healthy 13.85 growth rate that is nearly four percent higher than the national average of 10 per cent. It was Rs 85,470 crore.
"During the last one year, the IT/ITES sector provided employment to an additional 24,506 professionals, taking the total workforce to 4,31,891 in the State," he said.
The minister was speaking after releasing his departments performance report. He said data from 2016-17 revealed the state has shown impressive results in terms of IT exports and employment.
Telangana targets to achieve more than Rs 120,000 crore worth of IT exports by 2020, growing at a CAGR of 16 per cent, and create more than 4 lakhs of direct employment and 20 lakhs of indirect employment by 2020, he added.
According to a report released by the government, T-HUB Phase- II, which is coming up in an area of about 3 lakh sq ft, will be operational by first half of 2018. It shall house 3,000 entrepreneurs.
The minister also launched T Wallet - an official digital wallet of the state, which offers anytime, anywhere platform for digital payments with no additional charges for citizens.
The wallet supports payments for both government, private organisations and individuals and is accessible on desktops, laptops, smartphones, feature phones and at MeeSeva centres. On the occasion, Rao also presented awards to some companies for excellence in certain fields.