Exports in information technology (IT) and information technology-enabled services (ITES) from Telangana have grown by 9.3 percent and touched Rs 93,422 crore and made a compound annual growth of 15.6 percent over the past four years, said state IT and industries minister K R Rama Rao today.
During 2016-17, the state witnessed Rs 85,470 crore exports in IT alone, he said. "The exports have been growing at a compound annual growth of 15.6 percent since the formation of the state in 2014," the minister said.
This is roughly 150 percent of the national average of 10.3 per cent during the same period, he said.
The growth has resulted in the creation of 1.5 lakh new IT jobs. There would be roughly 2.5 to 3 times the generation of indirect jobs, he further said.
An annual report released by the minister said the government was targeting to achieve over Rs 1.20 lakh crore worth of IT exports and create more than four lakh direct employment and about 20 lakh indirect employment by year 2020.
Last year, the direct employment generated by the IT sector reached 4.75 lakh with 43,417 new professionals getting jobs, he said, adding that the sector provided indirect employment to about 7.5 lakh people, the report said.
Later, the Minister launched new initiatives such as T-web (T for Telangana), a one-stop for all government information, T-security operations centre, T-SWAN (state-wide area network, and TSTS-ABAS (Telangana state technology service- aadhar based attendance system).Talking to newspersons, the minister said in an effort to reduce congestion, the government is working towards attracting IT companies to set up shops on the eastern side of the city. "We will soon come out with our own 'Look East' policy for the companies to come up on the eastern areas," he said. The minister gave away prizes to winners in various categories of IT sector.