Telangana IT Exports See 13 Percent Growth In FY20-21 Despite COVID Pandemic
11 Jun, 2021 11:48 IST|Sakshi Post
HYDERABAD: Despite the COVID-19 pandemic, Telangana recorded nearly 13 per cent growth in IT and ITeS exports at over Rs 1.45 lakh crore over last fiscal, Minister for IT and Industries KT Rama Rao said on Thursday.
While releasing the Information Technology, Electronics and Communication (ITE&C) and I&C Department's Annual Reports of 2020-21, he said that the state's IT and ITES exports stood at ₹1,45,522 crore for the financial year 2020-21, an increase of 12.98 per cent.
Highlights from the Annual Report
- The State added 46,489 new jobs taking the total IT/ ITES employment to 6,28,615 at a growth rate of 7.99. compared to FY 2019-20. It was Rs 1.28 lakh crore in FY20.
- Telangana's Gross State Domestic Product during 2020-21 was ₹9.78 lakh Crore.
- The growth rate fell due to the Covid-19 pandemic by 1.26 per cent at constant prices (2011-12) but is significantly better than India's projected GDP contraction at 8 per cent.
- The share of Telangana's economy in the national GDP has gone up by 26 basis points to 5.0 per cent in 2020-21 against 4.74 per cent in 2019-20.
- Telangana has attracted several companies such as Amazon Web Services, Goldman Sachs, and MassMutual last year. According to the report, Amazon Data Services is setting up three data centres in Fab City, Pharma City and Chandanvelly in Telangana with an investment of Rs 20,761 crore (USD 2.77 bn).
- Telangana is in the forefront of promoting the use and development of new-age technologies like AI, ML, Drones and Blockchain not only as business opportunities, but as torchbearers of innovation within the government.
- The state has launched marquee projects such as Artificial Intelligence for Agricultural Innovation (AI4AI) and Medicine From The Sky (MFTS) along with our partners at the World Economic Forum and NITI Aayog
- Telangana's growth rate has outperformed the national growth rate and the share in the national GDP has further increased from 4.74 per cent in FY 2019-20 to five per cent in FY21.
- The GSDP (Gross State Domestic Product) during 2020-21 was Rs 9.78 lakh crore. The growth rate fell due to Covid pandemic by 1.26 per cent at constant prices (2011-12) but significantly better than India's projected GDP contraction at 8 per cent.
- In 2020-21, the state recorded a per-capita income of Rs 2,27,145 compared to the national average of Rs 1,27,768.
- Telangana attracted cumulative investments of Rs 2.15 lakh crore creating 15.6 lakh jobs since 2015.
- The Telangana State Industrial Infrastructure Corporation developed 10 new Industrial Parks and allotted 810 acres of land to 453 industries with an expected investment of Rs 6,023 crore and potential employment of 7,623.
- Jayesh Ranjan, Principal Secretary ITE&C Department, said that despite the difficult year, both IT and Industries departments have been able to initiate many new initiatives such as the launch of new EV Policy, several new industrial parks and Hyderabad Mega Science and technology clusters.
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