Hyderabad: Continuing its tradition of beating the national average growth in IT, Telangana state is set to register a 30 per cent growth in its IT exports for the year 2023-24.
“We are seeing a healthy growth in IT exports. Going by the trends, we expect a similar growth as last year or even a higher growth. We have seen a spurt in exports after the Covid pandemic,” said C Kavitha, director, Software Technology Parks of India- Hyderabad.
Telangana state recorded a nation beating growth of 31.4 per cent in IT exports for the year 2022-23. At the India level, the IT export growth rate during FY23 was 9.36 per cent. The IT exports from Telangana touched Rs 2,41,275 crore, up from Rs 1.83 lakh crore the previous last year, according to official data in the public domain.
In terms of employment, Telangana state saw a net addition of 1.27 lakh jobs in 2022-23, taking the cumulative number of people working in the IT sector to 9.05 lakh.
The employment generation has seen a 16.2 per cent growth over the previous year’s 7.8 lakh. While about 2.9 lakh jobs were created in the IT sector in the country during 2022-23, 44 per cent was in Telangana. In the previous year, Telangana accounted for 33 per cent of all IT jobs created across India, the official data further said.
“Last year, we saw exports grow at 30 per cent. Exports have doubled in the last five years. If the growth we have seen last year continues to grow, then our doubling ears will squeeze. It will have a proportionate impact on employment generation as well. We are performing better than many states but will have final data in June or July,” she said.
“There are many supportive initiatives and schemes which have come up. We were looking at software exports and are also looking at the product. So, a lot of promotion comes to startups as well. It is now the right time to start entrepreneurship. There is a new scheme- EMC 2.0- which provides financial assistance for promoting electronic manufacturing projects and common facility centres across the country. STPI is the implementing agency for this,” she said,adding that Tier 2 and 3 cities continue to be the focus areas.
