Led By Hyderabad, Telangana Doubles IT Exports In Just Five Years To Cross Rs One Lakh Crore Mark In FY19

Telangana led by capital city Hyderabad has achieved the distinction of almost doubling its IT and IT-enabled services (ITES) exports in the past five years, reports Hindu BusinessLine.

In 2013-14, the IT and ITES exports were pegged at Rs 56,000 crore, and the state had set an ambitious target to double the figure in 2019. In FY19 (2018-19) Telangana missed the target by just a little over 2,000 crore as it achieved IT and ITES exports worth Rs 1,09,219 crore.

This was a mammoth 17 per cent growth over the exports worth Rs 93,400 crore achieved in 2017-18. In 2016-17 the figure stood at Rs 85,475 crore.

Delighted by the achievement, Telangana's IT Minister KT Rama Rao took to twitter on Monday (29 April) to compliment his team from the IT Department of the state.

The record growth in the sector has also led to large scale employment generation in the sector, with the number of new employees in IT and ITES industries going up by 14.2 per cent to reach 5,43,033 people.