IT, Electronics and Communications Department's reports said the growth in one year surpassed the total IT exports the unified AP accumulated over nearly 30 years.
Published Jun 05, 2023 | 6:13 PM ⚊ Updated Jun 05, 2023 | 6:13 PM
IT Minister KTR releasing ITEC annual report. (Twitter)
Telangana has reported an impressive 31.44 percent growth in IT and ITeS exports in the financial year 2022-23, the state government said on Monday, 5 June.
The annual report of the Information Technology, Electronics and Communications Department said the exports were to the tune of ₹2,41,275 crore in the 2022-23 fiscal, up ₹57,706 crore from ₹1,83,569 posted in the previous year.
Minister for IT KT Rama Rao released the report in Hyderabad on Monday.
The report said that the growth in one year surpassed the total IT exports the unified Andhra Pradesh had accumulated over nearly 30 years.
Andhra Pradesh’s first multinational firm, Intergraph Corporation (now part of Swedish Hexagon AB, a global provider of IT solutions), set up its facility in Hyderabad in 1987, 27 years before the state’s bifurcation.
The government also said that IT exports across India for 2022-23 grew at 9.36 percent whereas in Telangana, it was at over 31 percent during the same period.
Employment in the IT sector touched 9,05,715 in 2022-23, a significant growth rate of 16.29 percent over the previous financial year. The industry generated 1,27,594 net new jobs during 2022-23, compared to the previous year’s 7,78,121.
Telangana accounted for 44 percent of jobs (1,27,594 out of 2,90,000 jobs) in India in the reporting fiscal.
The report projected the IT/ ITeS to surpass ₹3 lakh crore in exports, besides meeting the 10 lakh jobs target set in the second ICT Policy (2021-26).
Hailing Telangana’s initiatives and achievements, KTR said the state has garnered global recognition, establishing itself as a symbol of progress on the national stage.
“This past year has turned out to be a year of laurels for Telangana. The seeds that we had sown and nurtured for the progress of the state and its citizens have led to fruition this year,” the minister said.
He further said: “Stable government and able leadership is behind the phenomenal growth.”
Super thrilled to announce that Telangana’s IT/ITeS exports have reached a staggering Rs. 2,41,275 Crores in FY 2022-23, marking an astounding YoY growth of 31.44%, soaring above the national average growth of 9.36%🔥 🎉
💪This surge of Rs. 57,706 Crores is the highest annual… pic.twitter.com/At7csckZC2
— KTR (@KTRBRS) June 5, 2023
The government also said that during the reporting year, many companies made major investments in the state.
California-based electric vehicle company Fisker has set up its India headquarters in Hyderabad.
Callaway Golf Company, a global leader in golf equipment, set up its DigiTech facility in Hyderabad, employing about 200 people.
Bosch, a German multinational company and leader in mobility, industrial engineering, and home appliances, has established its Center of Excellence as a technology and innovation research and development hub. The facility in Hyderabad focuses on automotive engineering and digital enterprise.
Global IT giant Microsoft has announced its plan to establish three more data centres in Hyderabad, in addition to the three that it would be setting up in Telangana.
Amazon Web Services (AWS) announced to set up three data centres in Hyderabad and committed to investing ₹36,300 crore.
American-Irish consumer credit reporting giant Experian expanded its operations and is planning to employ 4,000 people in the next three years.
The 300-year-old London Stock Exchange Group PLC (LSEG), a leading global financial markets infrastructure and data provider, is planning a Technology Centre of Excellence in Hyderabad. The centre is expected to employ about 1,000 people in a year.
Warner Bros. Discovery has announced plans to set up an International Development Centre (IDC) in Hyderabad, which is expected to generate 1,200 jobs in the first year alone.
The minister said Warangal and Hanamkonda are becoming alternative IT hubs to Hyderabad. While, Tech Mahindra, Cyient, and Genpact have set up their centres in Warangal. LTI Mindtree, Genpact, HRH Next, and Hexad Solutions Pvt. Ltd has established facilities in Hanamkonda.
On the development of tier II cities in Telangana, KTR said, “The IT Tower in Mahabubnagar is spread across four acres, housing the regional centres of T-Hub, TASK and WE Hub. Nine companies have come forward to start their operations.”
“Many companies signed MoUs with the government to set up their offices in cities such as Nizamabad, Siddipet and Nalgonda. Very soon, tier-II cities in the state will get more than 2,500 IT jobs, which will in turn create indirect employment for 10,000 people,” he added.
The minister further mentioned the technology hubs set up by the government. The T-HUB 2.0 is the world’s largest innovation campus, housing 2,000 startups. It has delivered over 75 innovation programmes to date.
The recently opened T-Works is India’s largest prototyping centre, supporting about 300 startups and MSMEs.
We-HUB is a first-of-its-kind state-supported Women Entrepreneurship HUB in India with 5,288 women entrepreneurs.
