The IT exports from Telangana for the financial year 2021-22 that ended in March are likely to be around Rs 1,67,350 crore. Incidentally, this is about 15 percent more than the Rs 1,45,522 crore last year.
While the trend has been similar for the past seven years and has more or less become a regular feature, Telangana continued to hit high notes despite the pandemic when their employees worked from home. As of April first week, many employees continue to work from home, as IT giants have extended the option for many. Most offices have adapted the hybrid model, despite which the revenues have been high.
According to the director of Software Technologies Parks of India (STPI), IT exports are expected to grow around 14-15 percent for the financial year 2021-22. STPI is a science and technology organization under the Ministry of Electronics and Information Technology (MeitY). It is engaged in promoting the IT/ ITES industry, innovation, research and development, start-ups, product/ IP creation in emerging technologies, and others.
In fact, Telangana IT exports have been showing upward growth of 12-14 percent on a year-to-year basis. Telangana, from last April to this March, has grown at a rate that is at least twice or even more of the national growth rate in the segment. Incidentally, this coincides with IT minister KT Rama Rao requesting IT firms and start-ups to set up their base in India.
Meanwhile, Hyderabad Software Enterprises Association (HYSEA) president Bharani K Aroll shares that Rs 20,000 crore will be added to the previous year’s IT export figures. Incidentally, a growth in exports impacts employment, and about 40,000 to 50,000 people were added to the workforce. The state of Telangana has set a target to increase the total direct employment in the IT sector to 10 lakh and double the annual IT exports to Rs 3 lakh crore by 2026. The state presently has 53 IT SEZs, and Hyderabad is recognized as the leading IT hub globally.