HYDERABAD: Telangana scored a stunner in IT exports by crossing a landmark of Rs 1,28,807 crore in 2019-20, a 17.03 per cent increase from 2018-19 when the exports stood at Rs 1,09,219 crore. This growth is way ahead of the national average of 8.09 per cent and the rest of the nation’s average of 6.02 per cent, despite Covid-19 affecting all sectors, including the IT, in the last quarter of the financial year.
A visibly delighted Chief Minister K Chandrasekhar Rao on Thursday congratulated IT Minister KT Rama Rao and Principal Secretary Jayesh Ranjan for the impressive strides the State has made in IT exports and said that by continuing to log in impressive growth figures year after year, Telangana has become the destination of choice for IT majors. The figures also showed that Telangana’s employment rate growing at 7.2 per cent compared to the national average of 4.93 per cent or the rest of nation average of 4.59 per cent.
‘IT ecosystem can fight Covid effect’
Telangana growth rate in employment was about 50 per cent more than the rest of the country. The State’s share of exports in India grew from 10.61 per cent in 2018-19 to 11.58 per cent in 2019-20 and its share of employment in the country grew from 13.06 per cent in 2018-19 to 13.34 per cent in 2019-20. Overall share of Telangana in Indian export growth for 2019-20 is 23.53 per cent and in the Indian employment growth for 2019-20 is 19.07 per cent.
IT Minister KT Rama Rao, who met the Chief Minister along with Principal Secretary Jayesh Ranjan, said that IT eco system has the resilience to overcome the effects of Covid-19 and pointed out that several investors are actively engaged in discussion with the department and very soon, there will be some announcements in this regard.
The department will release the progress report on June 1, listing out all the achievements made during 2019-20. This will be the sixth year in a row that the department has released the progress report.
The Minister said in 2019-20 several marquee investments took place in Hyderabad, including Amazon’s world’s largest facility in 3 million sq ft and Micron’s largest R&D centre. Tech Mahindra and Cyient have chosen to open their centres in the Tier II city of Warangal, he added. The State government is also promoting dispersion of the IT around the city with several MNCs showing interest in the eastern part, he said, while pointing out that the commercial space absorption during the first two quarters of 2019-20 topped all metros in the country.