Despite the Covid-19 pandemic and its adverse impact on the economy, Telangana registered 26.14 per cent growth in information technology exports and added nearly 1.50 lakh new jobs in 2021-22, exceeding those expected.
The state recorded IT/ITeS exports of Rs 1,83,569 crore during the year against Rs 1,45,522 crore in 2020-21. Growth in exports was 12.98 percent last year.
Employment in the IT/ITES sector also increased by 23.78 percent in 2021-2022.
State Information Technology Minister KT Rama Rao said on Wednesday that 1,49,506 net new jobs were added in the IT/ITeS sector to take the total number of employees to 7,78,121.
He said the state’s performance during the year was nothing short of stellar. Exports grew 26.14 percent against the national growth rate of 17.20 percent estimated by NASSCOM.
While NASSCOM estimates that 4.50 lakh jobs will be created in the sector nationwide during 2021-22, Telangana alone has reached 33.3 per cent national job growth.
“This impressive performance is despite the second wave of the pandemic and many fears among people who have lost their jobs,” he said.
In Telangana which is set to celebrate its formation day on June 2, he pointed out that when the state was born in 2014, IT exports were Rs 57,258 crore and total jobs in the sector were A3,23,397.
KTR pointed out, as the minister noted, that since the formation of the new state, Telangana has achieved a CAGR of 15.67 in exports. “We have grown more than 300 per cent from Rs.57,258 crore to now Rs 1,83,569 crore,” he said. The state has also added 4,54,725 new IT/ITeS jobs over the past eight years.
According to ITIR estimates, IT exports for the state (United state of Andhra Pradesh) should reach Rs. 2,09,221 crore by 2035.
“Along with our progress rate, Telangana IT exports will exceed 2035 projections in 2025 despite no ITIR support being lent. That means we will reach the 25 -year target in 15 years, ”he said
The Information Technology Investment Region (ITIR) was approved for Hyderabad by the previous UPA government but the current NDA government appears to have stopped it.
Talking about marquee investments this year, he said investment banking giant Goldman Sachs has entered Hyderabad and they plan to grow to a headcount of 2,500 over three years.
Consumer electronics manufacturer OnePlus has made its debut in India via Hyderabad. It has made Hyderabad the hub for making smart TVs in India. About 500 employees are involved in production, and they are on their way to distributing a million smart televisions, he said.
The world’s leading open innovation platform, Plug And Play, has set up its center in Hyderabad for stimulating the growth of Automotive startups in the city in partnership with Startup Autobahn in Stuttgart, Germany.
MassMutual, a global leader in insurance services, has inaugurated 2,000 employee facilities. Stellantis (Fiat Chrysler Peugeot) has set up a digital presence and expanded its operations in Hyderabad targeting 2,200 jobs by 2024.
Genpact has laid the foundation for its Uppal campus in the eastern corridor of Hyderabad in accordance with the GRID (Growth in Dispersion) Policy and will add 15,000 new jobs to the Easter corridor.
In accordance with GRID policy, the foundation stone was laid for the one million square feet Gateway IT Park in Kandlakoya in the northern part of Hyderabad. More than 200 companies (SMEs) have applied for the space.
American multinational Qualcomm has announced its largest campus (1.6 million sft) outside the US in Hyderabad that will be operational in October 2022. “Qualcomm has joined the big leagues – Amazon, Apple, Google, Microsoft, Facebook, Uber, Salesforce, Micron and Service Today. Their second largest base in the world is in Hyderabad, ”he said
ABOSCH, a German MNC and a world leader in Mobility, Industrial Engineering and Home Appliances, has chosen Hyderabad as a strategic location with its Bosch Global Software Technologies and R&D presence. They started their office in Hitech city and will hire approximately 3000 people working in technologies such as Cloud, AIoT/ML, Cyber, and embedded security.
The groundbreaking was made for Google’s largest campus outside its headquarters in Mountain View, USA, a 3.3 Million sft energy-efficient campus built using sustainable standards.
Grid Dynamics, a digital transformation company with offices across the US and Europe, has announced to open its first presence in India with a headcount of 1,000 by the end of the year.
The Telangana government has entered into a Memorandum of Understanding (MoU) with Hyundai to set up its proving ground in Zaheerabad and be part of one of its kind Telangana Mobility Valley in Zaheerabad. Hyundai will invest 1,400 crore.
The German automotive major, ZF, has announced the largest engineering and R&D facility with over 3,000 employees in Hyderabad. This will be their largest facility anywhere in the world. ZF will be a key part of the Telangana Mobility Valley.