Telangana IT, industries sectors buck Covid, show growth

Our Bureau Hyderabad | Updated on June 10, 2021

IT exports grew by 13 p.c.; TS-iPASS attracted investments: KTR

The Information Technology and Industries verticals in Telangana have bucked the slowdown due to the Covid pandemic and registered significant growth in 2020-21.

“Despite the adverse impact of Covid-19 pandemic on economy, Telangana’s IT and ITES exports stood at ₹1.45-lakh crore crore for the financial year 2020-21 growing at 12.98 per cent over the previous year’s figure,” Telangana IT and Industries Minister KT Rama Rao has said.

The State has recorded a Compound Annual Growth Rate (CAGR) of 14.25 per cent in IT-ITES exports since 2013-14.

In the electronics sector, the State attracted investments to the tune of ₹4,000 crore, he said.

Releasing the reports on the annual performance of the IT and Industries Departments here on Thursday, he said the State added 46,489 new jobs in the IT-ITES sector, taking the total employment in this sector to 6.28 lakh, showing a growth rate of 8 per cent.

“Telangana's GSDP during 2020-21 was ₹9.78-lakh crore. The growth rate fell to 1.26 per cent at constant prices (2011-12). But it is significantly better than India’s projected GDP contraction at 8 per cent,” he said.

The share of Telangana’s economy in national GDP has gone up by 26 basis points to 5.0 per cent in 2020-21 against 4.74 per cent in 2019-20.

Despite the pandemic induced slowdown, the State could attract investments from companies such as AWS, MassMutual, GoldmanSachs and NPCI, he said.

Focus on Tier-ii cities

Stating that IT Towers at Warangal, Khammam and Karimnagar, with an aggregate seating capacity of 2,500 seats became operational in 2020-21, he said the Government would focus on developing the IT industry in more small towns such as Mahaboobnagar, Siddhipet and Nalgonda.

He said MeeSeva (e-governance window) has served over 2.86 crore citizens and handled transactions over ₹4,115 crore in 2020-21.

The Minister said the year saw investments from Laxai Life Sciences, Agasthya Foods, Trouw Nutrition and Ester Filmtech. He said TS-iPASS, the State’s new industrial investment window, attracted cumulative investments of ₹2.14-lakh crore, creating 15.6 lakh jobs.

Published on June 10, 2021

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