From Rs 1,83,569 crore in 2021–2022 to Rs 2,41,275 crore in 2022–2023, the State's IT exports skyrocketed. The growth rate for the State was 31.44% compared to 9.36% for all of India. The amount of new jobs created grew from 7,78,121 in 2021–2022 to 9,05,715 in 2022–2023 in terms of numbers. Overwhelmingly, 1,27,594 new employment were added during the fiscal year that ended in March.
It's interesting to note that Telangana's IT exports in 2013–14 only totaled Rs 57,258 crore. Comparatively, the growth in State IT exports from 2021–22 during the previous fiscal was Rs 57,706 crore, according to IT and industries minister KT Rama Rao, who spoke on monday after the release of the IT Annual Report 2022–23. All export data was submitted by individual businesses and made available by the union government through the ministries of commerce and electronics and information technology.
According to him, telangana contributed 44% of the nation's new software employment during the most recent fiscal year compared to 33% in 2021–22. Despite the effects of Covid-19, the Center's lack of support, and the cancellation of the ITIR project, all these accomplishments were recorded. Despite these difficulties, Rama Rao claimed that telangana attracted new investments as a result of the capable leadership and stable administration provided by chief minister K Chandrashekhar Rao.
"This is only the start. hyderabad will continue to be the top choice, he added, noting that the State government was drafting the nation's first Cybercrime Act with technical support from NALSAR and that it will be introduced during the upcoming assembly session.
In addition to being cosmopolitan, hyderabad was also a global metropolis, with numerous multinational behemoths having their largest or second-largest campuses there. The IT sector's expansion and successes will have a knock-on effect on several industries. According to the minister, there would be a cascade effect on the residential building industry, transportation, leisure, hospitality, and other industries. He also said that all the measures put in place nine years ago were coming into play and that more outcomes would follow.
ICT policy targets and lack of Central support
As the current clusters at Maheswaram and E-City were completely used, the State was requesting the establishment of more electronic industrial clusters. However, nobody replied. telangana too requested aid and outlined its plans to extend IT services to tier II cities, but to no effect. Financial support was required for the construction of T-Hub, but the Centre said nothing.