Telangana IT exports clock 31.44% growth at Rs 2,41,275 cr in FY23
The telangana government said on monday that its exports of information technology (IT) and information technology-enabled services (ITeS), which totaled Rs 2,41,275 crore for FY 2022–23, had increased by 31.44 percent.
The state's IT exports climbed from Rs 1,83,569 crore in 2021–2022 to Rs 2,41,275 crore in 2022–2023 (Rs 2,41,275 crore). According to the IT export data, the number of jobs created jumped from 7,78,821 in 2021–2022 to 9,05,715 in 2022–2023, according to Telangana's minister of information technology, K T Rama Rao.
The minister said that the IT industry saw a growth of Rs 57,706 crores in the fiscal year 2022–2023, the largest yearly growth since the state's founding. The minister cited the 2013–14 export figures, which showed that the state's IT exports totaled Rs 57, 258 crores, and claimed that more than 1 lakh new employment was generated during this fiscal year. "The state's IT exports increased by Rs 57,706 crore compared to 2021–22," claimed KTR.
Telangana successfully attracted new investments and provided 44% more new software employment in the most recent fiscal year compared to those established in 2021–2022, according to ktr, despite the impact of COVID-19 and a lack of assistance from the federal government. ktr said that the recent expansion and successes in the IT industry will have a knock-on effect on several industries, including residential buildings, transportation, entertainment, and hospitality.