The Covid conditions have made no difference to the IT sector in Hyderabad. In fact, people worked from home and productivity has increased. In fact, the companies could save money on transport, power and other things.
The expenditure of the IT companies has come down during the Covid period and it continues. The profits of the companies have gone up marginally.
The IT sector is making rapid strides in Telangana State, with internationally renowned IT companies opening their database centres in Hyderabad. After the State formation, 250 new IT companies came to the State and 5,82,126 employees are working in them. In the first year of the State’s formation, the IT exports were Rs 66,276 crore. By 2019-20 financial year they are more than doubled and now stand at Rs 1,28,807 crore.
In the IT exports growth rate, the national average is 8.09 per cent while Telangana’s growth rate is 17.93 per cent.
Despite the adverse impact of the Covid-19 pandemic, the National Association of Software and Services Companies (NASSCOM) has projected the IT exports in the State at Rs 1.40 lakh crores in the 2020-21 financial year.
“It is crystal clear that the Telangana State, even in adverse conditions, is achieving progress. Telangana is also at the forefront of providing digital services to people. The T-Hub of the State government had become the base for many startup companies.
