Hyderabad sources added that Exports in information technology (IT) and information technology enabled services (ITES) from Telangana have grown by 9.3% and touched Rs 93,422 crore and made a compound annual growth of 15.6% over the past four years, said state IT and industries minister K R Rama Rao here. The minister said during 2016-17, the state witnessed Rs 85,470 crore exports in IT alone.
Moreover he said "The exports have been growing at a compound annual growth of 15.6% since the formation of the state in 2014," and this is roughly 150% of the national average of 10.3% during the same period. Further the growth has resulted in the creation of 1.5 lakh new IT jobs. There would be roughly 2.5 to 3 times the generation of indirect jobs. Accordingly an annual report released by the minister said the government was targeting to achieve over Rs 1.20 lakh crore worth of IT exports and create more than four lakh direct employments and about 20 lakh indirect employment by year 2020.
Previously as per report the direct employment generated by the IT sector
reached 4.75 lakh with 43,417 new professionals getting jobs, he said, adding
that the sector provided indirect employment to about 7.5 lakh people.
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