Telangana set to beat its own record in IT exports
Since the State's creation, telangana has improved its performance in growing IT exports. telangana is quite likely to outperform its historical fiscal performance at the conclusion of the current fiscal year given the State government's goals.
The creation of jobs in the IT sector was growing steadily along with the sector's rising exports of IT. With a growth rate of 16.29 percent, 9.05 lakh jobs were created during the fiscal year 2022–23, which is a significant increase over the 7.78 lakh jobs produced during the fiscal year 2021–22. For every direct job created by the IT sector's expansion, four indirect job possibilities in other industries were also created.
Expansion to Tier II Cities
Expansion to Tier II Cities
The State government is expanding the IT sector to tier II cities rather than just hyderabad, and as a result, IT towers are being built in several districts. Nizamabad, Siddipet, Mahabubnagar, Warangal, Karimnagar, and Khammam's IT towers have already started operating, while other towers are being built in nalgonda and Adilabad.
Data Centers
Data Centers
Microsoft and amazon, two of the biggest names in technology, have opted to expand their investments and data centre holdings in the State. microsoft announced intentions to build three more data centres in the State at a cost of Rs. 16,000 crore in january of this year. These will be in addition to the three such projects it had previously announced in early 2022 in areas close to hyderabad with an investment of Rs. 15,000 crore over 15 years. amazon Web services also declared that it will double the amount it had already promised to invest in telangana, from Rs. 20,096 crore in 2020 to Rs. 36,300 crore by 2030.