IT exports: Hyderabad firms explore new territories
Hyderabad: Information Technology (IT) and IT enabled services (ITeS) companies in Hyderabad are slowly and steadily exploring newer regions and non-US territories to export their software services and products.
Countries from Europe, Middle-East and Asia Pacific are some of the newer territories that the companies in Hyderabad are seeing significant traction. While the United States still constitutes majority shareholder in terms of software exports, other regions are also evincing interest in doing business with the IT and ITeS companies in Hyderabad.
“The pandemic changed the way businesses are being dealt with, but for the IT and ITeS industry it has been a blessing in disguise. While the US still dominates the export market for the industry with 60 per cent targeted to the American nation, other emerging regions are Middle-East, Europe and Asia Pacific. In the past two years, the Middle-Eastern region has seen marginal growth while Europe’s share in the export market has grown from 25 per cent to 27 per cent,” CVD Ramprasad, director, Software Technology Parks of India (STPI) Hyderabad, told Telangana Today.
There has been a marginal dip in the exports to the US while exports to Europe, with a majority to the UK, have grown marginally as well, he pointed out.
On the IT exports predicted to be reported for the current financial year ending March 2022, Ramprasad said in the last three quarters about 13-14 per cent growth has already been recorded. “It is in the last quarter that the real growth is actually seen. So, we are hoping to have more than 15 per cent growth in the IT exports from the State,” he said, without predicting exact growth numbers.
Telangana government is taking all necessary steps to promote the industry in tier-2 and 3 cities of the State and the director also informed that STPI is promoting the same. As of now, he said, companies are looking at places like Warangal and Karimnagar and there is still a lot of potential for these cities.
He said the work from anywhere model has made many employees shift their base to smaller towns and more infrastructure creation in terms of schools, hospitals and entertainment zones will surely put the growth on fast track.
“Currently, only low-end jobs are being done in these cities, but we are hoping that in the near future these centres will become the hub for IT exports as well with the right kind of social and physical infrastructure,” he said.
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