Despite COVID-19, Telangana records 18% growth in IT exports

Despite the COVID-19 onset, during the last quarter of 2019-20, the IT export from Telangana has managed to record about 18 per cent growth in the financial year.

According to Telangana’s IT and industries minister K T Rama Rao (KTR), “the phenomenal 17.93 growth” recorded in the last fiscal is more than double the national growth (8.09 percent).

Telangana IT exports in 2019-20 is at Rs 1.29 lakh crore and the sector, mainly concentrated in Hyderabad, is employing 5.82 lakh people. The same was Rs 1.09 lakh crore and 5.43 lakh respectively for 2018-19.

“Hyderabad IT ecosystem has the agility and resilience to overcome the COVID-19 effects,” said KTR pointing that several investors are in active discussions with his department and that “very soon, there will be some announcements in this regard.”

Telangana’s IT employment grew at a 7.2 percent in 2019-20 compared to national average of 4.93 percent, officials said.

“The figures clearly indicate that Telangana is poised to be the preferred destination for IT investments in the future”, Chief Minister K Chandrasekhar Rao said while congratulating the department which released the data on Thursday.

In view of the COVID-19 pandemic, the CM directed the IT department to ensure all measures so that the IT industry functions smoothly.

During the last financial year, several marquee investments took place in Hyderabad, including the inauguration of Amazon’s world’s largest facility in three million square feet and Micron’s largest R&D centre globally. Tech Mahindra and CYIENT chose to open their centers in the tier-2 location of Warangal.

Telangana is also promoting IT dispersion on all sides of Hyderabad with several MNCs showing interest in the Eastern part. Commercial space absorption in Hyderabad during the first two quarters of 2019-20 topped all Indian metros, officials added.

A progress report would be released on 1 June showing 2019-20 achievements.