During the 2022-23 financial year, the IT exports from Telangana were valued at Rs.2.41 lakh crore, registering a growth of 31.44 per cent increase over the 2021-22 financial year exports
Published Date – 08:00 AM, Mon – 28 August 23
Hyderabad: Telangana is continuing its good performance in increasing IT exports since formation of the State. Given the State government’s priorities, Telangana in all likelihood will surpass its last fiscal performance by the end of the current financial year as well.
During the 2022-23 financial year, the IT exports from the State were valued at Rs 2.41 lakh crore, registering a growth of 31.44 per cent increase over the 2021-22 financial year exports. Interestingly, during the formation of the State, the IT exports were Rs 57,258 crore (2014-15) and the exports increased by Rs 57,706 crore from the financial year 2021-22 to 2022-23.
In tune with the increasing IT exports, the employment generation in the IT sector was also witnessing a steady growth. During the financial year 2022-23, 9.05 lakh jobs were generated much more than the 7.78 lakh jobs created in the 2021-22 financial year, with a growth rate of 16.29 percent.
The growth in the IT sector has had a ripple effect, creating four indirect employment opportunities in other sectors for each direct employment generated.
Expansion to Tier II cities
Not limiting the IT sector’s growth to Hyderabad, the State government is extending the sector to tier II cities and accordingly IT towers were being constructed in different districts. Already, the IT towers at Nizamabad, Siddipet, Mahabubnagar, Warangal, Karimnagar and Khammam have commenced operations and new towers were coming up at Nalgonda and Adilabad.
Data Centres
Tech giants Microsoft and Amazon have decided to increase their investments and data centre portfolios in the State. In January early this year, Microsoft had announced plans to establish three more data centres in the State at an investment of Rs.16,000 crore. These will be in addition to the three such it had announced in early 2022 at locations near Hyderabad with an investment of Rs.15,000 crore over 15 years.
Amazon Web Services too announced that it would increase its investment in Telangana from its previously committed Rs.20,096 crore in 2020 to Rs 36,300 crore by 2030.
