Amid fears of a global ,Telanganalogged in its highest ever IT exports, registering a Growth of 31.4% in 2022-23. The ‘start-up state’, as Telangana is often called, has far outstripped the 9.36% national IT exports growth rate.
The youngest state’s IT exports grew to Rs 2.41 lakh crore in the financial year 2023, from Rs 1.83 lakh crore in 2021-22, a Rs 57,706 crore jump.
Telangana’s achievement can be gauged from the fact its IT exports growth this year is higher than the state’s entire IT exports in 2014.
And at a time when the tech sector globally is grappling with layoffs, Telangana added as many as 1.27 lakh new IT jobs in 2023 to take the total number of direct IT jobs in the state to more than 9.05 lakh, witnessing a 16.29% growth. The sector employed more than 3.23 lakh people in 2014 in the state.
With this, Telangana’s share of the net new EMPLOYMENT in India’s IT sector, which added an estimated 2.9 lakh jobs, rose to 44% in FY23 from 33% in FY22.
Terming the FY23 IT exports growth as “explosive” and the brightest feather in the state’s cap,KTRsaid it proves that Telangana has arrived as the top global IT/ITeS destination.