HYDERABAD: Telangana’s Information Technology (IT) sector has outpaced the national average by three times, experiencing an astounding 31.44% growth and contributing Rs 2.41 lakh crore in IT exports during the 2022-23 fiscal. This growth has surpassed the previous year’s exports by a whopping Rs 57,706 crore.
Revealing this during the release of the annual report on IT and Electronics for 2022-23, IT Minister KT Rama Rao pointed out that the increase in IT exports in the last year had exceeded the total IT exports of undivided Andhra Pradesh, which accumulated over nearly three decades. In 2014, Telangana’s IT exports stood at Rs 57,258 crore, making the last year’s surge even more remarkable.
The State’s IT sector has been a significant contributor to employment growth, creating 1,27,594 new jobs during the same period. The total number of IT jobs in the State now stands at 9,05,715, a stunning year-on-year growth rate of 16.29%. Notably, of the total 2,90,000 new IT jobs generated nationwide, Telangana accounted for a staggering 44% share. This substantiates Telangana’s pivotal role in fostering employment opportunities and solidifying its position as a prominent player in the Indian IT landscape, Rama Rao said.
Employment generator
He pointed out that Telangana’s IT job surged from 3,23,396 in 2014 to 9,05,715 in 2023, effectively tripling the number of jobs.
“Since its formation, Telangana has generated 5,82,319 new direct IT jobs, underscoring its commitment to bolstering employment in the sector. Prior to State formation, the IT employment across undivided Andhra Pradesh was 3,23,396 in 2014, or just 9.83% of the total across the nation,” Rama Rao said.
He pointed out that over the past nine years, Telangana’s net new employment in the IT sector reached an impressive 5,82,319, accounting for 27.6% of the national net new jobs during the same period, resulting in the State’s overall share surging from 9.83% in 2014 to 16.77% in 2023.
Tier-2 cities in the GRID
The growth of the IT industry has extended beyond Hyderabad, with Warangal emerging as an alternative hub. The city has attracted prominent companies such as Tech Mahindra, Cyient, and Genpact, among others. Also, tier-II towns in Telangana have witnessed the establishment of IT companies like LTI Mindtree, Genpact, HRH Next, and Hexad Solutions Pvt. Ltd, solidifying their status as emerging IT hubs.
Mahbubnagar’s newly inaugurated IT Tower offers a conducive environment for companies and fosters the government’s innovation ecosystem, Rama Rao said.
Investments in electronics
Telangana’s success in attracting investments extends to the electronics and energy storage sectors as well. The State has managed to secure investments exceeding Rs 38,000 crore, with the potential to generate approximately 31,000 more jobs.
Key investments in the previous year came from industry giants such as Rajesh Exports (Rs 24,000 crore and 1,500 jobs), Amara Raja Batteries (Rs 9,500 crore and 4,500 jobs), Allox Advance Materials (Rs 210 crore and 115 jobs), and Foxconn (1,00,000 jobs).