IT exports from Telangana likely to cross Rs 1.67 lakh crore for 2021-22
Hyderabad: The IT exports from Telangana for the financial year 2021-22 ended March are likely to be around Rs 1,67,350 crore. This is about 15 per cent more than the Rs 1,45,522 crore last year. While this kind of growth rate has become a regular feature with Telangana’s IT sector for the past seven years, […]
Hyderabad: The IT exports from Telangana for the financial year 2021-22 ended March are likely to be around Rs 1,67,350 crore. This is about 15 per cent more than the Rs 1,45,522 crore last year.
While this kind of growth rate has become a regular feature with Telangana’s IT sector for the past seven years, the State continued to hit high notes despite the pandemic, when most of the IT offices in Hyderabad have allowed their employees to work from home. As of April first week, many employees are still working from a location that is different from their office place.
“We expect the IT exports from Telangana to grow around 14 to 15 per cent for the year 2021-22,” said CVD Ramprasad, Director, Software Technologies Parks of India (STPI) Hyderabad. STPI is a science and technology organisation under the Ministry of Electronics and Information Technology (MeitY). It is engaged in promoting IT/ITES Industry, innovation, research and development, startups, product/IP creation in emerging technologies and others.
The final export figures after collation and certification will take some time, he explained.
Telangana IT exports have been growing consistently between 12 to 14 per cent on a year-on-year basis. Telangana, from last April to this March, has grown at a rate that is at least twice or even more of the national growth rate in the segment. This comes at a time when Industries and IT Minister KT Rama Rao has been harping on the 3 I mantra of innovation, infrastructure and inclusivity while requesting large as well as startups to consider Telangana for setting up their operations or expanding.
Industry body Hyderabad Software Enterprises Association (HYSEA) president Bharani K Aroll said the growth in exports in 2021-22 could be in the 15 per cent range and add about Rs 20,000 crore to the previous year’s IT export figures. “Telangana is most likely to grow twice the national average,” he said.
At the India level, about 45 lakh people are employed in the IT sector. According to Meity, the IT sector revenues for 2020-21 were estimated to be $ 195 billion (over Rs 14 lakh crore) including $ 150 billion (over 11 lakh crore) export revenues and $ 45 billion (over Rs 3.3 lakh crore) domestic revenues.
In 2019-20, the revenues grew 7.9 per cent to touch $ 191 billion (export $ 147 billion and domestic $ 44 billion). In 2018-19, they grew 5.98 per cent to touch $ 177 billion and in 2017-18, they grew 8.44 per cent to touch $ 167 billion.
New jobs
The increase in exports will have a bearing on employment in the IT sector as well. For 2020-21, the IT and allied sectors employed about 6.28 lakh people. Going by the previous years’ trends, the net addition during 2021-22 is likely to be between 40,000 and 45,000. In the IT segment, every new job created will create a demand for 100 sqft office space. This implies the demand this year has created a demand for about 40-45 lakh sqft.
Information Technology has been a major success story for Telangana since its inception in 2014. The first Information, Communication and Technology (ICT) Policy (2016-21) has set a target of doubling its exports in five years. The State has admirably succeeded in achieving it. The second policy (2021-26) aims to establish Telangana as the global hub for product development, engineering, research and development. It set a target to increase the total direct employment in the IT sector to 10 lakh and double the annual IT exports to Rs three lakh crore by 2026.
The State has 53 IT SEZs. Hyderabad is recognized as the leading IT hub globally. It is home to marquee brands like Google, Microsoft, IBM, AMD, Micron, SAP, Infosys, Cyient, Amazon, Intel, Qualcomm, Uber, Facebook, TCS, HP, Apple, Deloitte, Accenture, GE, Dell and Hyundai and several others.
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