HYDERABAD: Software and IT products exports from Telangana grew by 17 per cent during 2018-19, surpassing the national rate of 7.8 per cent, revealed the State's Socio-Economic Outlook-2020.
According to the Socio Economic Outlook-2020, during 2018-19, the total value of software and IT products exports from the State accounted for Rs 1,09,219 crore (USD 15.6 billion). Telangana contributed to over 11 per cent of the country’s IT exports. Hyderabad ranked second in terms of total revenues from the IT sector in the country.
IT sector exports from Telangana account for 50 per cent of total exports from the State. Hyderabad, a leading global IT hub, houses over 1,500 IT companies that together employ over 5.4 lakh professionals and support indirect employment for over seven lakh people. When the State was formed, IT exports were valued at over Rs 60,000 crore.
The growth rate between 2014-15 and 2018-19 in IT and ITeS exports was 13.3 per cent. The number of IT sector employees in 2014-15 was around 3.8 lakh. The growth rate in IT employment in the State between 2014-15 and 2018-19 was 9.9 per cent.
The IT sector also contributed to the growth of service sector. The share of services in GSDP increased significantly to 65 per cent in 2019-20 from 57 per cent in 2013-14. Growth in services has largely been fuelled by IT and business services.
Hyderabad second in total revenue from IT sector
The total value of software and IT products exports from the State accounted for Rs 1,09,219 crore in 2018-19. Telangana contributed to over 11 per cent of the country’s IT exports. Hyderabad ranked second in terms of total revenue from IT sector.