Telangana recorded an impressive 31.44 percent growth in the Information Technology sector in terms of IT exports and job creation in the previous financial year.
The state’s IT exports grew from Rs. 1,83,569 crore in 2021-22 to Rs. 2,41,275 crore in 2022-23. The number of jobs created increased from 7,78,821 in 2021-22 to 9,05,715 in 2022-23.
This financial year saw the creation of 1,27,594 new jobs. Interestingly, Telangana’s IT exports in 2013-14 totaled Rs.57, 258 crore. IT exports from the state increased by Rs.57,706 crore compared to 2021-22, said IT and Industries Minister KT Rama Rao after releasing the IT Annual Report 2022-23 here on Monday.
Telangana contributed 44 percent of software jobs created in the country last fiscal year, compared to one in every three jobs created in 2021-22, he said.
All of these accomplishments were recorded despite the Covid-19 impact, a lack of support from the Centre, and the cancellation of the ITIR project. Despite these obstacles, Telangana has attracted new investments thanks to a stable government and capable leadership under Chief Minister K Chandrashekhar Rao, he said.
“This is just the beginning. I appeal to the youth to grab all the opportunities coming in Telangana. For youth from other States, relocating in Telangana can be a challenge, but for Telangana youth, it should be a boon,” Rama Rao said.
Hyderabad is an international city as well as a cosmopolitan one. Many corporate behemoths have their largest or second largest campuses in the city. Many landmark structures have been built in addition to companies expanding their operations and units. The Minister said superstar Rajinikanth recently stated that Hyderabad had evolved phenomenally and resembled New York.
All of the progress and achievements in the information technology sector will have an impact on other sectors. The Minister went on to say that the ripple effect would affect the residential construction industry, transportation, entertainment, hospitality, and other industries.
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