Hyderabad Continues To Thrive in Information Technology, IT-Based Exports And Job Creation

Hyderabad, which carved a niche in the IT sector, has registered 2.68 lakh crore exports in 2023-24 and a total of 9.46 lakh employees are employed in this sector. According to reports, an increase of 11.2% has been recorded compared to the previous year.

Hyderabad: Hyderabad continues to thrive in Information Technology, IT-based exports and job creation. It is recording a huge growth rate with better infrastructure, human resources and sustainability. It is recorded here as higher than the national growth rate. To this extent, the state government has recently revealed that the value of IT exports in Telangana for the year 2023-24 has reached Rs 2,68,233 crore. An increase of 11.2% compared to the previous year

In this regard, the national growth rate is only 3.3%. Global IT hiring continued to slow last fiscal year. The creation of new jobs in the country is also low. In Hyderabad, however, the trend of IT jobs continued. Over 40,000 youths got employment in this sector. The total number of employees working in IT and IT-based industries in the state has reached 9.46 lakhs.

Compared to 2022-23, the growth rate in the number of employees is 4.5%. The government has announced that it aims to attract more investments in the IT sector for the financial year 2024-25, to employ 11 lakh by March 2025 and to increase the value of IT exports to Rs 3.5 lakh crore.