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Hyderabad: June 10 ( PMI ) Releasing the annual reports of the Industries and IT departments, IT Minister KT Rama Rao said the IT exports from Telangana touch new high of Rs 1.45 lakh crore.
Stellar IT performance
IT exports from the State has touched a new high of Rs 1,45,522 crore for the year 2020-21, recording an increase of 13 per cent over the last year’s IT exports of Rs 1.28 lakh crore, the IT Minister said adding that the IT exports were Rs 57,000 crore when the new State of Telangana came into being in 2014.
“Since the formation of Telangana, we have been able to achieve a CAGR of 14.25 per cent, from Rs 57,000 crore to Rs 1.45 lakh crore,” he said.
“Telangana once again boasted a phenomenal growth in the IT/ITeS sector with an increase of 12.98 per cent in IT exports over the previous year, recording a total of Rs 1.45 lakh crore. Telangana has seen more than double the estimated average national growth rate,” he said.
Employment in IT
The employment in the IT/IteS sector has also increased by eight per cent to reach 6,28,615 during 2020-21. Telangana, despite the Covid situation, has added 46,489 net new jobs in the IT/ITeS sector, the minister highlighted.
“Since the formation of Telangana, we have been able to achieve a CAGR of 14.25 per cent, from Rs 57,000 crore to Rs 1.45 lakh crore,” he said.
“Telangana once again boasted a phenomenal growth in the IT/ITeS sector with an increase of 12.98 per cent in IT exports over the previous year, recording a total of Rs 1.45 lakh crore. Telangana has seen more than double the estimated average national growth rate,” he said.
Employment in IT
The employment in the IT/IteS sector has also increased by eight per cent to reach 6,28,615 during 2020-21. Telangana, despite the Covid situation, has added 46,489 net new jobs in the IT/ITeS sector, the minister highlighted.
The number was 3.23 lakh when Telangana came into being. On net, the State has added over three lakh new IT/ITeS jobs over the last seven years. This apart, there will be about 2.5 times more indirect jobs created.
“Friends in the STPI, SEZ, and industry body Nasscom tell that the eight per cent growth in IT employment in Telangana for 2020-21 is significantly higher than the national average, which is close to two per cent as per STPI numbers,” KTR said.
Ts-iPASS
The State has unveiled a new single-window industrial policy TS-iPASS and the same has facilitated cumulative investments over Rs 2.14 lakh crore creating 15.6 lakh jobs. In 2020-21, TSIIC, the nodal body for industries, has developed ten new industrial parks and allotted 810 acre to 453 industries with an expected investment of Rs 6,023 crore and potential employment of 7,623, the Minister said.
