Hyderabad: The Telangana government, on 21 May, announced that the state’s IT exports rate has increased by 17.93 per cent, which is more than double the national average of 8.09 per cent, in fiscal 2019-20.
Further, the state also announced that employment in the IT sector in the state increased by 7 per cent during 2019-20 compared to the previous financial year. Telangana’s growth rate in employment is 50 per cent more than the national average, which was 4.93 per cent, said the state minister for IT and industries, KTR.
#HappeningHyderabad#TriumphantTelangana— KTR (@KTRTRS) May 21, 2020
Telangana success saga continues!
Very happy to announce that Telangana achieved 17.93% growth in IT/ITES exports in 2019-20. Telangana’s growth is more than double the national average 😊 pic.twitter.com/nHhBi9IoRg
While Telangana’s IT exports for 2018-19 was 1.09 lakh crores, this number increased to 1.28 crores in 2019-20. “During the 2019-20 financial year, several marquee investments have come to Hyderabad, including the Amazon’s world’s largest facility at 3 Million sft & Micron’s largest R&D centre globally. Tech Mahindra & CYIENT have chosen to open their centers in tier-2 city Warangal,” the IT minister tweeted.
The IT exports and employment data report further showed that the overall share of Telangana in the Indian export growth for the year 2019-20 is 23.53 per cent. Telangana’s share in Indian exports has increased to 11.58 per cent from 10.61 per cent in the previous year.
Similarly, the overall share of Telangana in the Indian employment growth for 2019-20 is 19.07 per cent. Telangana accounts for 13.34 per cent of India’s IT employment, the report said. The state is home to 5.82 lakh IT employees, it also said.