In the face of Covid-19 headwinds, India’s youngest state of Telangana has logged a 26% increase in IT exports for FY 2021-22, totalling more than Rs. 1.83 lakh crore (US$ 23.62 billion) in exports. It also reported 149,506 new jobs created during FY 2021-22, bringing total employment in the sector to over 7.78 lakh, a 24% YoY increase.
According to Nasscom, Telangana alone added one-third of the 4.5 lakh new IT jobs created in the country in FY22. The state also outpaced the country’s IT export growth of slightly more than 17% in FY 2021-22.
In FY 2020-21, the state recorded IT exports of Rs. 1.45 lakh crore (US$ 18.72 billion) and created 46,489 jobs, bringing the total number of IT jobs to 628,615.
When Telangana was a new state in 2014, its IT exports were Rs. 57,258 crore (US$ 7.39 billion). From 2014 to 2022, exports have grown at a CAGR of 15.67% from Rs. 57,258 crore (US$ 7.39 billion) to Rs. 1.83 lakh crore (US$ 23.62 billion), said Mr. KT Rama Rao, IT Minister.
KTR, as the minister is popularly known, pointed out that since the formation of the new state, Telangana achieved a CAGR of 15.67 in exports. “We have grown by more than 300 per cent from Rs.57,258 crore to now Rs 1,83,569 crore,” he said.
The state also added 4,54,725 new IT/ ITeS jobs over the last eight years. As per the ITIR estimates, the IT exports for the state (United state of Andhra Pradesh) were supposed to reach Rs. 2,09,221 crore by 2035. “Going with our progress rate, Telangana IT exports will cross the 2035 projections by 2025 despite the no ITIR support lent. This means we will reach the 25 year target in 15 years,” he said
