The total IT exports from India’s youngest state touched Rs 2,68,233 crore during the last financial year, reflecting an 11.2 per cent increase from the previous year. This growth rate significantly outpaces the national average growth of 3.3 per cent.
An official release from the state government said the sector now supports over 9.46 lakh professionals with a net addition of over 40,000 jobs in the financial year 2023-24, representing a 4.5 per cent increase in employment.
In 2022-23, the state recorded a national average beating growth of 31.4 per cent in IT exports, touching Rs 2,41,275 crore, up from Rs 1.83 lakh crore the previous last year, according to official data.
Telangana is one of the fastest-growing states in the nation and wants to keep up this momentum by concentrating on high-value, cutting-edge technologies such as artificial intelligence (AI), semiconductor design, cybersecurity, and data science, the release said.
The state’s strategic focus includes expanding its footprint of Global Capability Centres (GCCs), Centres of Excellence (CoEs), and Global Business Support Centres (GBSCs).
With over 200 top GCCs already operating in Hyderabad, Telangana is on track to double this number in the coming years, reinforcing its position as a premier hub for technological innovation and advancement, it said.
“Telangana’s exceptional growth in IT/ITeS exports, even amid national challenges, highlights our commitment to becoming the leading hub for technology and innovation. As we prepare to host the Global AI Summit, we are laying the groundwork for Hyderabad to emerge as the AI capital of India and a global leader,” the state IT Minister D Sridhar Babu said.
Meanwhile, the minister unveiled the website for the Global AI Summit, scheduled to be held in Hyderabad on September 5- 6. The summit aims to leverage AI to address population-scale challenges across governance and industry sectors.
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