Telangana set to beat its own record in IT exports

Telangana is continuing its good performance in increasing IT exports since formation of the State. Given the State government’s priorities, Telangana in all likelihood will surpass its last fiscal performance by the end of the current financial year as well.

During the 2022-23 financial year, the IT exports from the State were valued at Rs 2.41 lakh crore, registering a growth of 31.44 per cent increase over the 2021-22 financial year exports. Interestingly, during the formation of the State, the IT exports were Rs 57,258 crore (2014-15) and the exports increased by Rs 57,706 crore from the financial year 2021-22 to 2022-23.

In tune with the increasing IT exports, the employment generation in the IT sector was also witnessing a steady growth. During the financial year 2022-23, 9.05 lakh jobs were generated much more than the 7.78 lakh jobs created in the 2021-22 financial year, with a growth rate of 16.29 percent.

The growth in the IT sector has had a ripple effect, creating four indirect employment opportunities in other sectors for each direct employment generated.