Alarming Decline: Telangana’s IT exports fall by over Rs. 30,000 crore
IT exports from the State, which were worth Rs.57,706 crore in 2022-23 dipped sharply to Rs.26,948 crore in 2023-24, a decline of Rs.30,758 crore!
Hyderabad: Even as the Congress government in the State said the growth of IT exports from Telangana was much higher than the national average, citing only cumulative figures from 2014-15 to 2023-24, truth is that the last one year actually saw a sharp and alarming decline not just in IT exports from the State, but also in the number of new IT jobs created here.
IT exports from the State, which were worth Rs.57,706 crore in 2022-23 dipped sharply to Rs.26,948 crore in 2023-24, a decline of Rs.30,758 crore! As for IT employment, 1,27,594 new jobs were created in 2022-23, while in 2023-24, this fell to 40,285 new jobs, a fall of 87,309 jobs.
Interestingly, IT Minister D Sridhar Babu, speaking at an event in the city on Saturday, had glossed over the alarming decline in 2023-24 in both IT exports and new IT jobs, and instead, spoke of only the cumulative figures. He had chose to point out while the country registered a single-digit growth rate, Telangana’s IT exports had increased by 11.28 per cent. The State IT/ITeS exports, he said, were valued at Rs.2.70 lakh crore in 2023-24, and employment increased to 9.5 lakh, compared to the last financial year.
Though the figures are right, fact is that this is a cumulative figure, and compared to 2022-23, there was dip in both these aspects in 2023-24. In fact, even the 11.28 per cent growth was much less compared to the 2022-23 financial year, when Telangana’s IT exports were worth Rs.2,41,275 crore, which was a growth of 31.44 per cent over the previous fiscal year.
Pointing out the alarming decline, BRS working president and former IT Minister KT Rama Rao asked the Congress government to focus on the sector. This was not a good sign, especially after the State had a great run in terms of growth of IT jobs created and IT exports over the last six to seven years, he said.
“Had a chance to look at the latest trends released by the govt. The alarming decline in Telangana’s IT exports is a matter of serious concern. Even more concerning is the fact that new IT jobs created in Telangana have fallen to one-third of the 2022-23 numbers,” he said in a post on X.
“The IT sector is a crucial engine that fuels the growth of Hyderabad city and Telangana State. During the tenure of BRS, this sector witnessed unprecedented growth thanks to several path-breaking policies and the TSiPASS single-window initiative,” he said.
“I urge the Congress government to prioritize IT & ITES sector and ensure policy continuity. Existing investors need to be supported, and new investments must be attracted. Young entrepreneurs and startups must be supported by all means,” Rama Rao said, adding that incessant infrastructure upgradation and strict maintenance of law and order play an important role in sustaining the growth of the IT sector in the State.
“The Congress government needs to focus on these two areas, which seem to have taken a backseat since they assumed office,” he stressed.
