Excel India Desk
Telangana IT and Industries Minister and BRS working president KT Rama Rao (KTR) said on June 5, Monday that Telangana is progressing ahead at the jet speed in the Information Technology (IT) sector,. He said Telangana ‘s IT exports have reached Rs.2.41 lakh crore this year 2022-23 from Rs.57,258 crores in 2013-14, much ahead of growth rate of any other state in India.
Speaking to the media after releasing the IT Annual Report 2022-23 here on June 5, Monday, Minister KT Rama Rao said there were only about 3.20 lakh employees working in the IT sector since the formation of Telangana State but now, the IT sector was providing jobs to over 9 lakh people.
KTR said the Telangana IT sector was achieving tremendous progress in terms of revenue generation and jobs creations and was now equally competing with Bangalore City. Due to easy access to land and infrastructure facilities, Hyderabad city has become a preferred destination for may IT companies. He said most global players in the sectors are willing to come to the city in the coming days.
Minister KT Rama Rao pointed out that the Telangana IT sector had registered 31.44 percent growth in the last financial year in terms of IT exports and job generation even though the COVID-19 pandemic impact, scrapping of the ITIR project and lack of support from the union government. The minister who returned from his two week long US tour, signed deals with several top IT and software firms there.
He said that IT exports from the State 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.
Stating that many multi-national companies are coming forward to invest in the tyre-2 cities, including Warangal, Mahbubnagar, Nalgonda, Siddipet and Sircilla in Telangana, Minister Rama Rao said that two Washington DC based companies have recently expressed their interest to launch their operations in Bellampalli town. Growth opportunities for the educated youth are bright in Telangana, said KTR.