Despite global slowdown and problems caused by the Covid-19 pandemic, Telangana’s IT sector is set to clock export of ₹1.40-lakh crore in the financial year 2020-21.
“We are expecting growth rate of over 7 per cent in 2020-21 to touch the ₹1.40-lakh crore ($19.1 billion) this financial year,” Telangana IT and Industries Minister KT Rama Rao said.
Compare this with the projected 1.9 per cent growth rate of IT exports from the country. “Nasscom has estimated that the IT exports from the country would be at $150 billion, growing at 1.9 per cent over the last year’s figure,” he said.
The IT firms in the State had registered exports of ₹1,28,807 crore in the financial year 2019-20 as against ₹1,09,219 crore in the previous year, showing a growth of 18 per cent.
Despite the gloomy conditions, Hyderabad added 8.7 million square feet of new office space during the year. “IT and IT-enabled services, including data centres dominated with a major share in terms of space creation,” he said.
“We are aggressively promoting emerging technologies like artificial intelligence, data analytics, Internet of Things, cyber security, digital entertainment technologies and blockchain,” he said.