Telangana logs 26% IT export growth to hit Rs 1.83 lakh crore in FY22, generates one-third of new IT jobs created in India
- IBEF
- June 2, 2022
In the face of Covid-19 headwinds, India's youngest state of Telangana has logged a 26% increase in IT exports for FY 2021-22, totalling more than Rs. 1.83 lakh crore (US$ 23.62 billion) in exports. It also reported 149,506 new jobs created during FY 2021-22, bringing total employment in the sector to over 7.78 lakh, a 24% YoY increase.
According to Nasscom, Telangana alone added one-third of the 4.5 lakh new IT jobs created in the country in FY22. The state also outpaced the country's IT export growth of slightly more than 17% in FY 2021-22.
In FY 2020-21, the state recorded IT exports of Rs. 1.45 lakh crore (US$ 18.72 billion) and created 46,489 jobs, bringing the total number of IT jobs to 628,615.
When Telangana was a new state in 2014, its IT exports were Rs. 57,258 crore (US$ 7.39 billion). From 2014 to 2022, exports have grown at a CAGR of 15.67% from Rs. 57,258 crore (US$ 7.39 billion) to Rs. 1.83 lakh crore (US$ 23.62 billion), said Mr. KT Rama Rao, IT Minister.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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