IT exports from Telangana has crossed the ₹66,000-crore mark in 2014-15, showing an annual growth rate of 15.70 per cent over last year’s figure of ₹57,000 crore. This is about 11 per cent of the total IT exports from the country.

“The growth rate of IT exports from the State exceeds that of the national IT growth rate of 13 per cent,” Telangana IT Minister K Taraka Rama Rao said.

Addressing reporters after releasing the progress card for the IT Ministry in the first year here on Tuesday, he said the State targeted to double IT exports to ₹1.20 lakh crore by 2019. The State also targeted to double the electronic hardware sector revenues to ₹12,000 crore in the next five years.

“We are well on course to achieve the target,” he said.

He said the IT industry added 50,000 more jobs this year. “It employs 3,71,774 people directly in 2014-15, up from 3,23,396 in the previous year,” he said.

The IT and IT-enabled services sector contributed 21 per cent of the total Gross State Domestic Product of Telangana as against 8.1 per cent in India.

Meanwhile, the city has commenced Wi-Fi services in 20 more places in the city. The government is planning to cover the whole of Hyderabad with Wi-Fi connectivity by the end of the year. It launched a pilot at Husainsagar in association with BSNL and QuadZen.

Leading investment and technology development company, DE Shaw, headquartered in New York, plans to invest $200 million in Hyderabad. The company announced the setting up of a new subsidiary company in Hyderabad, called Arcesium, in partnership with Blackstone Asset Management company. DE Shaw will position 400 employees in Hyderabad by the end of the year, a number which will be doubled in the next three years.

Related Topics
comment COMMENT NOW