Telangana IT exports grow by up to 26%, creates nearly 1.50 lakh jobs

Telangana’s information technology(IT), and information technology enabled services (ITeS) exports recorded a surge by over 26% to Rs 1,83,569 crore during the year, against Rs 1,45,522 crore in 2020-2021, with approximately 1.50 lakh new jobs created in the sector.

Minister KT Rama Rao claimed, the state’s performance exceeded all expectations, while launching the 2021-22 annual report of his IT department and emphasized that the state is on track to meet its growth targets ahead of schedule. He added, Telangana’s performance not only solidified its place as India’s IT powerhouse, but also continued to outperform national IT exports. He mentioned that whereas India’s IT exports, including those of Telangana, climbed by 17.2 percent, the state’s grew by 26.14 percent.

The growth in IT and ITeS exports was the largest in a single year since Telangana was formed in 2014. The current success reprents a 220 percent increase over IT exports of roughly 57,258 crore at the time of the state’s establishment, the minister told the gather of IT sector, association executives and officials. “We have been able to attain a CAGR of 15.67 percent since the state’s inception,” he continued.

Nearly 1,49,506 jobs were created, which is the most in a single year since the state’s formation. Last FY, the employment increased by 23.78 percent year over year. Rao cited figures from the IT industry association Nasscom that put the net new job creation in India at 4.5 lakh, saying Telangana contributed to a third of the net new national employment in the IT sector.

The number of people employed in the IT/ITeS industry in the state presently stands at 7,78,121, up from 3.23 lakh, eight years ago. Telangana is on track to meet the 3 lakh crore exports and 10 lakh jobs targets established in the 2^nd ICT Policy (2021-26),according to the annual report, based on growth in exports and job creation.