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Telangana registers 19% jump in IT exports despite coronavirus
KTR submits report on IT sector to CM
Hyderabad: The Telangana Information Technology sector clocked an impressive performance of about 18 percent growth over the previous year by registering IT exports of Rs 1,28,807 crore. The growth rate is more than double the national average of 8.09 per cent and more than two-and-a-half times the rest of the nation's average of 6.92 per cent. IT Minister KT Rama Rao, accompanied by State IT Secretary Jayesh Ranjan, on Thursday submitted the report to Chief Minister K Chandrasekhar Rao.
The Chief Minister was happy to see the share of Telangana's exports in India had gone up from 10.6 per cent to 11.6 per cent and the share of Telangana in this year's growth in national exports was a remarkable 23.5 per cent. "This clearly indicates that Telangana is poised to be the preferred destination for IT investments in the future," KTR said.
This will be the fifth year in a row that the department released the progress report.During the 2019 -20 financial year, KTR said, several marquee investments have taken place in Hyderabad, including the inauguration of Amazon's world's largest facility at 3 million square feet and Micron's largest R&D centre globally. The IT Minister claimed that the Hyderabad IT ecosystem has the agility and the resilience to overcome the ill-effects of COVID-19.
The CM congratulated the IT department for achieving desirable results and directed the department to ensure that all measures and precautions be taken to ensure that the IT Industry functions smoothly, keeping in view of the coronavirus pandemic.
