Telangana IT exports zoom to 85,470 cr

Software exports from Telangana reached Rs 85,470 crore for 2016-17 financial year from Rs 77,070 cr in the previous fiscal. With 13.85 per cent growth rate in FY17, IT exports from the State surpassed the national average growth rate of 9.85 per cent, according to IT Minister KT Rama Rao, who released annual report-2017 on the IT industry performance here on Thursday. He also unveiled T-Wallet, an e-wallet.

As part of rural technology development policy, Telangana government is keen on Tier-2 and Tier-3 cities. The State government is also focusing on sunrise



sectors like cyber security, data analysis, IoT, etc.

Speaking on the occasion, KTR said: “The software industry generated 24,500 direct jobs during 2016-17 fiscal and with this, the total number of employed persons in the industry reached to 4,31,89 as of now.

We’re targeting Rs1.2 lakh crore worth IT exports by 2020 with a compound growth rate of 16 per cent. The Telangana State is right on the track towards this target. By 2020, over eight lakh people are expected to be employed in the software industry.