Telangana's IT exports grew above national average at 13.85%
JBS Umanadh, Hyderabad, DH News Service, Jun 1 2017, 19:19 IST
The software exports from Telangana have touched Rs 85,470 crore in 2016-17, registering a growth rate of 13.85 percent, which is nearly four percent higher than the national average.
The software exports from Telangana have touched Rs 85,470 crore in 2016-17, registering a growth rate of 13.85 percent, which is nearly four percent higher than the national average.
“We have achieved a healthy growth rate of 13.85 percent, which is nearly four percent more than the national average of 10 percent,” the State Information Technology Minister KT Rama Rao said here on Thursday while releasing IT performance report.
The minister released the annual report of IT, Electronics and Communications department on the eve of the third formation day celebrations of Telangana. Hyderabad accounted for 98-99% of the total exports. During 2016-17, the IT industry provided employment to an additional 24,506 professionals, taking the total workforce to 4.31 lakh.
Telangana, which was carved out of Andhra Pradesh in June 2014, was on track to achieve IT exports of Rs 1.20 lakh crore, providing jobs to 8 lakh people, by 2020. The growth in IT exports was higher than the national average for the third consecutive year. In 2013-14, the exports stood at Rs 57,000 crore. "We have declared that we will double the exports and direct employment by 2020. We are on course to achieve this," Rao said, adding that indirect employment would jump up to 20 lakh. The IT Minister, however, said that layoffs are a common practice in the technology industry.
According to a report released by the government, the second phase of the T-HUB (Telangana hub), an incubator facility for the IT start-ups coming up here in an area of about 3 lakh sq ft, will be operational by first half of 2018. It would house 3,000 entrepreneurs.
The Minister also launched T Wallet - an official digital wallet of the state, which offers anytime, anywhere platform for digital payments with no additional charges for citizens. The wallet supports payments for the government, private organisations and individuals and is accessible on desktops, laptops, smartphones, feature phones and at ‘Mee Seva’ (Citizen Services) centres.