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IT industry on growth path

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IT industry on growth path

admin1 December 16, 2017
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Telangana’s IT sector was mainly driven by IT and ITeS companies set up in Hyderabad since the 1990s. The sector has played a vital role in putting India on the global map as almost 11 per cent of the nationwide IT exports are contributed by Hyderabad alone. After the formation of the State of Telangana, this sector has seen an upward surge after coming under the aegis of IT Minister K T Rama Rao. Under his Ministry, Telangana IT exports stood at Rs 85,470 crore in the year 2016-17 with a growth rate of 13.85 per cent.

Apart from India-born IT companies like Tech Mahindra, Infosys, Wipro, Cognizant, TCS, Hyderabad is also home to many multi-national companies like Google, CA Technologies, Amazon, Apple, IBM and others. “Our regime’s focus is to make Hyderabad the number one destination for IT sector,” Rama Rao has echoed time and again.

In order to facilitate IT and ITeS organisations, the government has been aggressively setting up Export Oriented Units (EOU), Special Economic Zone (SEZ), and Software Technology Parks (STP). In terms of employment, the State added 24,506 professionals in the last one year taking the total direct workforce in the IT/ITeS sector to 4,31,891.

The government is planning to take these number to 8,00,000 direct employment and 20,00,000 indirect employment by 2020. According to experts, Hyderabad’s cosmopolitan culture and it being less prone to natural disasters make it a congenial place for IT companies set foot. Other than this, various subsidiaries and incentives from the government’s side have also made the industry pave new heights. Not only the IT or ITeS space, the incentives have given birth to new industries like aerospace, multimedia and gaming.

Due to this, many IT companies and MNCs have set up their centres in the city. For example, Amazon has five centres in Telangana including one of its largest in near Hyderabad.

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