IT exports in Telangana for FY22 increases by 26.14% to Rs 183,569 crore

Telangana government said it has recorded an increase of 26.14 percent in export of information technology (IT) and information technology enabled services (ITeS) for FY2021-2022. The state has also increased employment in the sector by 23.78 percent.

IT/ITeS exports increased from Rs 145,522 crore in FY21 to Rs 183,569 crore in FY22; and employment in the sector increased from 628,615 in FY21, to 778,121 for FY22, said Telangana IT and Industries minister KT Rama Rao.

Rao informed that Goldman Sachs entered Hyderabad last year and it plans to grow to a headcount of 2,500 in three years. Further, OnePlus has also set up a hub for making smart TVs, and around 500 employees are engaged in the production, he informed.

Genpact laid a foundation for its campus in Hyderabad, and will be adding 15,000 new jobs in the city's eastern corridor, Rao added. He also said that American multi-national company (MNC) Qualcomm has announced its largest campus outside USA in Hyderabad, which will be operational by October 2022.

German MNC Bosch has also opened its research and development (R&D) office in the city, and plans to employ around 3,000 to work on cloud, AIoT/ ML and other such technologies.

Rao added that Google has also began work on establishing its largest campus outside its HQ in Hyderabad.

Apart from this, Grid Dynamics, a digital transformation company said that it will hire 1,000 people by the end of 2022, he said.

The state has also signed a memorandum of understanding (MoU) with Hyundai for a Rs 1,400 crore investment in Telangana.