Telangana IT/ITES exports grow 17% at Rs 1.09 lakh Cr in FY19

Telangana registered about 17 per cent growth in IT and IT Enabled Services (ITES) exports to over Rs 1.09 lakh crore in the last fiscal.

In 2017-18, IT/ITES exports stood at Rs 93,442 crore and added over 68,000 IT professionals in the state. In 2018-19, the figure touched Rs 1,09,219 crore,an official release said.

"The then IT Minister K T Rama Rao had set an ambitious target before the department that we have to double our IT exports in the next five years.

I am delighted that we have been able to make that challenge a reality," Telangana Principal Secretary IT and Industries Jayesh Ranjan told PTI.

One appreciable part of our growth story is that the existing companies are expanding heavily. This is a strong endorsement of the value proposition they get in Hyderabad and Telangana," he added.

"Delighted with 2018-19 Hyderabad IT sector performance; IT exports have grown by a whopping 17% to Rs 1,09,219 crore and employment has grown by 14.2% to reach 5,43,033," former IT Minister and ruling TRS working president K T Rama Rao tweeted.