Telangana IT exports clock 31.44% growth at Rs 2, 41,275 Cr in FY23

Hyderabad: The Telangana government on Monday said it has recorded an increase of 31.44 per cent in export of information technology (IT) and information technology enabled services (ITeS) at Rs 2,41,275 crore for FY 2022-23.

The exports stood at Rs 1,83,569 crore during the last fiscal.

“Telangana witnessed a remarkable increase in IT/ITeS exports, reaching a staggering Rs. 2,41,275 crore during the fiscal year 2022-23.

This represents an astounding growth of 31.44 per cent compared to the previous financial year,” a state government report said. The surge of Rs 57,706 crore in the fiscal year 2022-23 is the highest annual rise since the formation of the State, it further said. Telangana has not only maintained the growth but also surpassed the national average growth solidifying the position, Telangana IT Minister KT Rama Rao said after releasing the report.

Telangana added 1,27,594 new jobs during the financial year 2022-23, bringing the total IT/ITeS employment to 9,05,715. This represents an impressive year-on-year increase of 16.29 per cent compared to the FY 2021-22, the report said.