HYDERABAD: Post bifurcation, the growth of IT sector has been impressive in the State. There has been a sharp increase in the number of IT/ITeS units in the state — from 1,200 in the financial year 2014-15 to 1,500 in 2016-17 — a growth of 25 per cent over a period of two years. The growth rate in employment generation from the IT sector has also been high at 16 per cent from 2014-15 to 2016-17. Likewise, the exports from the IT sector are also growing rapidly, according to the Socio-Economic Outlook-2018 of the State government.
The year-on-year growth in IT exports registered a rise of 13 per cent, which is 3 percentage points higher than the national average growth rate.Telangana’s share in the country’s IT exports is over 10 per cent and Hyderabad ranks second in terms of total revenues from the IT sector in the country. The IT sector exports from the state contribute to over 50 per cent of total exports from all other sectors in the state. In 2016-17, the total value of software and IT product exports accounted for `85,470 crore.
Not only IT and Pharma, the exports of other sectors too increased by considerable number in the State. Telangana is steadily emerging as one of the leading states for merchandise exports in the country with a buoyant export growth rate, the Socio-Economic Outlook states.Merchandise exports worth `40,322 crore were exported from the State in the year 2016-17 as compared to `35,444 crore in the year 2015-16, thus registering a growth rate of 13.8 per cent year in the year.
The sector-wise analysis of merchandise exports reveals that a lion’s share in Telangana’s exports earnings consists of pharma and chemical products. Pharmaceutical products earned the highest income from exports during 2016-17, valued at `17,744 crore, accounting for about 44 per cent of the total merchandise exports from the state. Further, the exports from pharmaceuticals also grew at a robust growth rate of 38.2 per cent in the year 2016-17 over 2015-16.
Export earnings from organic chemicals was `9,497 crore, accounting for about 24 per cent of the total exports from the state. Pearl and precious stones also registered high earnings, accounting for 4.4 per cent from exports in comparison to last year, from the state.
What the Socio Economic Outlook says...
Telangana is steadily emerging as one of the leading states for merchandise exports in the country with a buoyant export growth rate