The Telangana government on Monday said it has recorded an increase of 31.44 percent in the export of information technology (IT) and information technology-enabled services (ITeS) at Rs 2,41,275 crore for FY 2022-23.
“IT exports from the state have increased from Rs 1,83,569 crore in 2021-22 to Rs 2,41,275 crore in 2022-23.In terms of job creation, the numbers increased from 7,78,821 in 2021-22 to 9,05,715 in 2022-23,” said Telangana IT minister K T Rama Rao after releasing the IT export reports.
The minister further said that a surge of Rs 57,706 crores in the fiscal year 2022-23 has been recorded in the IT sector, which is the highest annual rise since the formation of the state.
Recalling the exports from 2013-14, where IT exports in the state stood at Rs 57, 258 crores, the minister said that over 1 lakh new jobs were created in this financial year.
“The increase in IT exports from the state compared to 2021-22 itself was by Rs 57,706 crore,” said KTR.
“Despite COVID-19 impact and lack of support from the central government, Telangana successfully got new investments and contributed 44 percent new software jobs in the last fiscal year compared to ones created in 2021-22,” said KTR.
Stating that recent growth and achievements in the IT sector would have a ripple effect on other sectors, KTR said an impact would be on the residential construction sector, transportation, entertainment, hospitality and others too.
The minister then listed out a series of investments that came to the state and the city this year and lauded the efforts of his team saying that their proactive nature and commitment have bought so much progress to the state.
Since 2015, KTR has been releasing annual reports for the other ministries in his portfolio, industries and municipal administration and urban development (MAUD).
The reports highlight the growth and achievements in respective sectors, in addition to outlining the priorities and targets for the new financial year.
In turn, they help the officials and staff in respective departments to work with a focused approach to meet the targets.
According to the previous eight annual reports, the IT sector witnessed significant growth in IT exports and job creation.‘
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