Telangana emerges as a 'Challenger' in the IT sector
By MYBRANDBOOK
The state has achieved 14.25 percent CAGR since the formation of the state in the IT exports and subsequently helped in the employment generation.
The Department for Promotion of Industry and Internal Trade (DPIIT) of the Ministry of Commerce, which released its Industrial Parks Rating System (IPRS) 2.0 report on October 5, has rated three industrial parks in the IT sector in Telangana - Financial District IT, Hyderabad Knowledge City, and HiTech City IT Park Madhapur - as ‘Challengers’.
Leaders are Industrial Parks and Special Economic Zones registering the highest level of performance, while Challengers are those who performed ‘quite close to leaders’, but marginally lower at the aggregate level. Aspirers are parks and SEZs that need significant interventions in the future to improve their performance.
India recorded a four percent growth in exports of software services (excluding exports through commercial presence). It is estimated at $133.7 billion during 2020-21, according to Reserve Bank of India (RBI). The total exports were estimated at Rs.9.92 trillion in 2020-2021 from India.
According to the Software Technology Park of India, software exports by units registered with it have increased by 7 percent YoY to reach Rs 5 trillion ($67.4 billion) in FY21 from Rs 4.66 trillion ($62.82 billion) in FY20.
Telangana achieved a growth of 12.98 percent in the IT/ITeS exports in the same period. It posted a record Rs 1.45 trillion ($~19.45 billion) software exports in 2020-21 as opposed to the Rs 1.28 trillion in the previous year. Employment generation in the IT/ITeS sector too spiked by 7.99 percent over 2019-2020.
To see the reflection of the state in the IT prowess.The total number of employees in IT/ITeS in Telangana has increased from 582,126 in 2019-20 to 628,615 in 2020-21. Across India, this sector saw 138,000 new hires in 2020 — that’s ~33 percent of the national hiring in this sector was done by companies in Telangana.
The state has been focusing on geographical divergence by encouraging IT companies to set up units in major tier-II towns. An incubation centre with 1,400 seats capacity has been made operational in Warangal, while a 556-seat IT tower in Karimnagar with 80,000 sq. ft space opened in July 2021.
The state government has completed IT tower in Khammam, and similar towers are coming up in Nizamabad, Mahbubnagar, and Siddipet.
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