[ad_1]
HYDERABAD: Defying the odds in the face of Covid-19 headwinds, India’s youngest state – Telangana – has set a scorching pace of IT & ITeS growth for financial year 2021-22. It has logged not just a 26% growth in IT exports to race past the Rs 1.83 lakh crore mark from Rs 1.45 lakh crore in 2020-21, but also generated one-third of India’s IT sector jobs.
Telangana, which turns eight on Thursday, generated nearly 1.5 lakh net new jobs out of the 4.5 lakh jobs estimated to have been created by the country by apex IT & ITeS sector body Nasscom.
This was a 24% jump in terms of the number of new jobs added by the sector in FY22 as compared to the 46,489 jobs generated in 2020-21 and takes the total number of IT sector employees in the state to over 7.78 lakh.
With over 26% IT exports growth notched in FY22, the state has surpassed the national growth rate (including Telangana) of over 17% in the financial year 2021-22.
Terming the growth as nothing short of stellar, IT minister KT Rama Rao said the number of new jobs created and exports growth clocked has surpassed all expectations.
Added 4.5L new IT jobs in 8 yrs: KTR
He said, “When we started as a new born state of Telangana in 2014, our IT exports were 57,258 crore. Since the formation of the new state of Telangana, we have been able to achieve a CAGR of 15.67% from 57,258 crore to 1,83,569 crore.”
“When the state was formed, there were 3,23,396 people working in the IT/ ITeS sector, today, the number is 7,78,121. In net, we have added 4,54,725 new jobs,” he added.
Citing ITIR estimates, KTR said the IT exports for the unified state of Andhra Pradesh were supposed to touch 2,09,221 crore by 2035. “But going by our progress rate, Telangana’s IT exports will cross the 2035 projections by 2025 despite the Centre lending no ITIR support.”
IT principal secretary Jayesh Ranjan said the global push towards digitalisation as an outcome of the pandemic has been perhaps capitalised much here than elsewhere. “State’s IT sector has a very strong global outlook, and therefore was able to make use of the new opportunities in a more agile way,” Ranjan added.
Telangana, which turns eight on Thursday, generated nearly 1.5 lakh net new jobs out of the 4.5 lakh jobs estimated to have been created by the country by apex IT & ITeS sector body Nasscom.
This was a 24% jump in terms of the number of new jobs added by the sector in FY22 as compared to the 46,489 jobs generated in 2020-21 and takes the total number of IT sector employees in the state to over 7.78 lakh.
With over 26% IT exports growth notched in FY22, the state has surpassed the national growth rate (including Telangana) of over 17% in the financial year 2021-22.
Terming the growth as nothing short of stellar, IT minister KT Rama Rao said the number of new jobs created and exports growth clocked has surpassed all expectations.
Added 4.5L new IT jobs in 8 yrs: KTR
He said, “When we started as a new born state of Telangana in 2014, our IT exports were 57,258 crore. Since the formation of the new state of Telangana, we have been able to achieve a CAGR of 15.67% from 57,258 crore to 1,83,569 crore.”
“When the state was formed, there were 3,23,396 people working in the IT/ ITeS sector, today, the number is 7,78,121. In net, we have added 4,54,725 new jobs,” he added.
Citing ITIR estimates, KTR said the IT exports for the unified state of Andhra Pradesh were supposed to touch 2,09,221 crore by 2035. “But going by our progress rate, Telangana’s IT exports will cross the 2035 projections by 2025 despite the Centre lending no ITIR support.”
IT principal secretary Jayesh Ranjan said the global push towards digitalisation as an outcome of the pandemic has been perhaps capitalised much here than elsewhere. “State’s IT sector has a very strong global outlook, and therefore was able to make use of the new opportunities in a more agile way,” Ranjan added.
[ad_2]
Source link
