GCCs driving IT exports from Telangana, now account 36-38% of IT exports
Hyderabad: IT exports from Telangana for the financial year 2024-25 could cross Rs 3 lakh crore, assuming they grew at 12 per cent as it did the previous year. If the growth pace is higher, the value of exports could increase further.
IT minister D. Sridhar Babu in January had announced that IT exports had crossed about $30 billion. IT/ITeS sector exports from the state surged by about 12 per cent in 2023-24 to touch Rs 2.68-lakh crore mark. The state's growth was more than the national average and a similar trend is likely this year too.
“The growth in IT exports from Telangana will be more than the national average this fiscal,” said C. Kavitha, director, of Software Technology Parks of India (STPI) Hyderabad. STPI is a wing under the Union Ministry of electronics and Information Technology.
According to her, data comes from various points depending on the audit cycles of the companies. The data for 2024-25 will be compiled towards June this year as companies have about three months or more after the fiscal year ends to submit the export details.
The industry created over 40,500 new jobs during 2023-24. The total workforce is about 9.5-10 lakh. The state’s IT exports were about Rs 2.41 lakh crore in 2022-23, seeing a growth rate of 31 per cent over the exports figure of Rs 1.83 lakh crore in 2021-22.
Telangana now accounts for more than 16 per cent of the total IT exports of the country. Within Telangana, the growth in exports is driven by global capability centres (GCCs). GCCs contribute about 36-38 per cent of the IT exports from the state. The employment in these is also rising at a healthy pace..
“The trend is better this year as the general IT environment has been good. GCCs have increased IT exports. Telangana has identified GCCs as a core area and has nurtured them well,” Kavitha said. The state has about 110 GCCs as per the STPI records.
STPI has a mandate to take the IT to tier II and III cities. “After the Covid pandemic, many have realised it is better to work closer home. If the trend improves, we will go to more places. We will have to talk to the Telangana government,” she said.
She said TSIIC has sought an electronics manufacturing cluster in Mucherla of Rangareddy district, and the application is under the consideration of the government of India.
According to the details on the STPI website, the cluster was proposed in about 623.4 acres and the proposed project cost is about Rs 947.7 crore.
The Centre has already approved one such cluster in Divitipally in Mahbubnagar in August last year. The project will span over 377 acres and the approved project cost is Rs 569.6 crore and the approved financial assistance is about Rs 258.1 crore, the website said.
Hyderabad Software Enterprises Association jointly with STPI-Hyderabad and Telangana IT department will hold the 32nd edition of its National Summit and Awards 2025 on February 11 at HICC. The theme is ‘AI & Beyond: Redefining the Future’.
