Chief Minister Sri K Chandrashekar Rao congratulated the state IT Department for the impressive growth in IT Exports from the state. Telangana's Exports grew at a 17.93% compared to National Average of 8.09% and Rest of the Nation's Average of 6.92%.
CM was happy to see the share of the Telangana’s exports in India went up from 10.6% to 11.6% and the share of Telangana in this year’s growth in National Exports was a remarkable 23.5%. “This clearly indicates that Telangana is poised to the be preferred destination for IT investments in the future”, he said. The Chief Minister also directed the IT department to ensure that all measures and precautions be taken to ensure that the IT Industry functions smoothly, keeping in view of the COVID-19 pandemic.
The Minister for IT, Mr. K. T. Rama Rao and the Principal Secretary, Mr. Jayesh Ranjan IAS met the Chief Minister, Mr. K. Chandrashekar Rao and shared with him the following IT Exports and Employment data obtained for the financial year 2019 – 20.
1.Telangana’s Exports grew at a 17.93% compared to National Average of 8.09% and Rest of the Nation’s Average of 6.92%. In other words, Telangana growth is more than double the National Average or more than two and half times the Rest of the Nation.
2.Similarly Telangana’s Employment grew at a 7.2% compared to National Average of 4.93% or Rest of the Nation’s Average of 4.59%. Telangana growth rate in employment is about 50% more than the rest of the country.
3.Telangana share of Exports in India grew from 10.61% in (2018-19) to 11.58% (2019-20)
4.Telangana share of Employment in India grew from 13.06% in (2018-19) to 13.34% (2019-20)
5.Overall share of Telangana in the Indian Export Growth for 2019-20 is 23.53%
6.Overall share of Telangana in the Indian Employment Growth for 2019-20 is 19.07%.
The Minister for IT explained the CM that despite the onset of the COVID-19 during the last quarter of the financial year 2019 – 2020 (Jan 2020 – March 2020), the export growth from Telangana managed to record a phenomenal 17.93% growth for the full financial year. And this is more than double that of the National growth.
The IT Minister said that the Hyderabad IT ecosystem has the agility and the resilience to overcome the effects of COVID-19. He pointed that several investors are actively engaged in discussions with the department and very soon, there will be some announcements in this regard. The department will release the progress report on the 1st of June depicting all the achievements during the year 2019-20. This will be the sixth year in a row that the department has released the progress report without fail.
