Industries and IT Minister K.T. Rama Rao on Thursday said IT and ITeS exports from the State increased 12.98% to ₹1,45,522 crore in the fiscal ended March 2021.
Releasing the annual reports of the Industries and IT departments here, the Minister, pointing out that IT exports were a mere Rs 57,000 crore at the time of State formation in 2014, said: “Since the formation of Telangana, we have been able to achieve a Compound Average Growth Rate (CAGR) of 14.25 per cent, up from Rs 57,000 crore in 2014 to Rs 1.45 lakh crore now.”
“Friends in the Software Technology Parks of India (STPI), Special Economic Zones (SEZ) and industry body Nasscom tell me that the eight per cent growth in IT employment in Telangana for 2020-21 is significantly higher than the national average, which is just about two per cent as per STPI numbers,” the KTR said.
Substantial considering it came amid the pandemic and the COVID-19 impact on economy, the rate of growth is estimated to be more than twice as much the national average, he said releasing the annual reports for 2020-21 of the IT and Industries Departments in the presence of senior officials, including the Secretary Jayesh Ranjan.
Moreover, the TSIIC developed 10 new industrial parks and allotted 810 acres of land to 453 industries with an expected investment of Rs 6,023 crore and potential employment of 7,623 persons. Invest Telangana, meanwhile, launched a new website in July, 2020, to attract investments.Despite Covid-19 throwing a spanner in the works, Telangana’s growth fell only marginally in 2020-21 by 1.26 per cent. It clocked a GSDP of Rs 9.78 lakh crore, but it did better than India’s projected GDP contraction at 8 per cent.