Telangana’s IT/ITeS sector exports defied the nationwide improvement of slowed improvement, surging by 11.3 per cent inside the financial 12 months 2023-24 to breach the ₹2.68-lakh crore mark. This decide rose further to ₹2.69 crore by June 2024. The enterprise moreover added 40,570 new jobs in the midst of the interval, showcasing its resilience amidst a tough monetary native climate.
The State recorded exports of ₹2.41 lakh crore in 2022-23, reflecting a improvement cost of 31.4 per cent over the exports of ₹1.83 lakh crore in 2021-22.
The State’s improvement cost in 2023-24 significantly outpaces the nationwide frequent of three.3%. The sector now employs 9.46 lakh engineers, with a web addition of 40,570 jobs in FY24, reflecting a 4.5% enhance in employment.
The State authorities attributes this success to a take care of high-value, cutting-edge utilized sciences like AI, semiconductor design, cybersecurity, and data science.
Saying the numbers proper right here on Sunday, IT and Industries Minister D Sridhar Babu said that the Authorities objectives to double its Worldwide Performance Services (GCCs) footprint inside the coming years, solidifying its place as a primary tech hub. “With over 200 prime GCCs already working in Hyderabad, Telangana is on observe to double this amount inside the coming years, reinforcing its place as a premier hub for technological innovation and improvement,” he said.
He unveiled plans for important improvement acceleration over the next three years, with a take care of innovation and technological improvement.
The upcoming Worldwide AI Summit in Hyderabad on September 5 and 6, 2024, will showcase AI choices for quite a few sectors and provide a platform for start-ups and youthful experience, he said.
The Minister moreover launched anticipated abroad funding agreements worth ₹16,000 crore, anticipated to be signed all through upcoming abroad visits by Chief Minister A Revanth Reddy from August 4–11, 2024.
