Kerala is working towards ensuring a 10% contribution to the country's IT exports and the sector generating 5,00,000 new jobs, Vijayan said.
Published Feb 05, 2024 | 10:36 AM ⚊ Updated Feb 05, 2024 | 10:36 AM
IBS Software in Technopark, Thiruvananthapuram. (Sourced)
The rapid expansion of air cargo digital technology company IBS Software as a global SaaS solutions provider exemplifies Kerala’s industry-friendly climate, Kerala Chief Minister Pinarayi Vijayan said on Sunday, 4 February.
Inaugurating a second fully-owned campus of IBS Software at InfoPark, Kochi, Vijayan said it demonstrates the sustained growth of world-class companies in Kerala.
“Kerala is witnessing a sustained growth in Information Technology as reflected in the state’s rising software exports which totaled ₹19,006 crore during 2022-23. It demonstrates the growth of world-class companies in our state, which is often accused of being hostile to industrial development,” Vijayan said.
Encouraged by this, the state is now working towards ensuring a 10 percent contribution to the country’s IT exports and the sector generating 5,00,000 new jobs, he said.
The three leading IT parks in Kerala have housed 509 companies since 2016, employing over 63,000 IT professionals, Vijayan said, adding that the number of start-ups has risen to 5,000 from 300 in the past eight years.
The Chief Minister also said that IBS Software Founder and Executive Chairman VK Mathews is effectively the brand ambassador for the state’s corporate-friendliness.
Addressing the gathering, Mathews said the company handles half the world’s software business in the air-cargo sector.
“The nature of the sector is fast changing. The software is changing from coding to prompting using generative AI,” he said and highlighted the growth of the digital economy in the future.
IBS Software has been operating from InfoPark since 2005. The company’s first fully-owned campus is located in Technopark, Thiruvananthapuram. The company’s new 14-storeyed campus, spread over 4.20 acres of land, can accommodate over 3,000 professionals in 3.2 lakh sq ft of office space, in its first phase.
The full-fledged additional work space was necessitated by massive post-pandemic growth in the company’s business, caused by accelerated technology adoption in the travel industry, the company said.
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