Telangana registered 31.44% growth in information technology exports and added nearly 1.27 lakh new jobs during 2022-23, according to an annual report released by the state’s IT department. The state clocked IT/ITeS (Information Technology/Information Technology Enabled Services) exports of Rs 2.41 crore during the year against Rs 1.83 crore in 2021-22. The growth in exports was 26% during the previous year, the report said. Telangana Minister for Information Technology KT Rama Rao on Monday, June 5, announced the figures while releasing the department's annual report.
KTR said that the state's performance surpassed national averages. "Despite COVID-19 impact, recession and global slowdown, Telangana witnessed a remarkable increase in IT/ITeS exports, reaching a staggering Rs 2,41,275 crore during the fiscal year 2022-23. This represents an astounding growth of 31.44% compared to the previous financial year," he said.
The surge of Rs 57,706 crore in the fiscal year 2022-23 is the highest annual rise since the formation of the state in 2014. The report says Telangana added 1,27,594 new jobs during the financial year 2022-23, bringing the total IT/ITeS employment to 9,05,715. This represents an impressive year-on-year increase of 16.29% compared to the FY 2021-22. The minister said that with rapid strides in its IT/ITeS sector exports and employment generation, Telangana is positioning itself to exceed the target of Rs 3 lakh crore exports and 10 lakh jobs set in the state’s second Information and Communication Technology (ICT) Policy 2021-26.
Super thrilled to announce that Telangana's IT/ITeS exports have reached a staggering Rs. 2,41,275 Crores in FY 2022-23, marking an astounding YoY growth of 31.44%, soaring above the national average growth of 9.36%
— KTR (@KTRBRS) June 5, 2023
This surge of Rs. 57,706 Crores is the highest annual… pic.twitter.com/At7csckZC2
Telangana is poised to achieve these ambitious milestones as early as next year (2024), two years ahead of schedule, KTR claimed. The Minister said that the state has come a long way since 2013-14 when the IT/ITeS exports were only Rs 57,258 crore. The number of people employed in the sector was 3,23,396 back then, he stated.