KTR concerned over 'alarming' decline in Telangana's IT exports

Hyderabad, Aug 6 (IANS) Bharat Rashtra Samithi (BRS) working president K. T. Rama Rao on Tuesday voiced concern over the "alarming" decline in Telangana's Information Technology exports.

The former IT and Industry minister urged the Congress government to prioritise IT and ITES sector and ensure policy continuity.

In his post on 'X', Rama Rao mentioned that the state had a great run in terms of growth of IT jobs created and IT exports over the last 6-7 years.

"Had a chance to look at the latest trends released by the govt. The alarming decline in Telangana's IT exports is a matter of serious concern. Even more concerning is the fact that new IT jobs created in Telangana have fallen to one-third of the 2022-23 numbers," he posted.

KTR, as the BRS leader is popularly known, pointed out that IT exports during 2022-23 grew by Rs 57,706 crore while the growth was only Rs 26,948 crore during 2023-24. Similarly, 1,27,594 jobs were created in 2022-23 while only 40,285 new jobs were created in 2023-24.

Stating that the IT sector is a crucial engine that fuels the growth of Hyderabad city and Telangana State, KTR claimed that during the tenure of BRS, this sector witnessed unprecedented growth, thanks to several path-breaking policies and the TSiPASS single-window initiative.

"I urge the Congress government to prioritise the IT & ITES sector and ensure policy continuity. Existing investors need to be supported, and new investments must be attracted. Young entrepreneurs and startups must be supported by all means. Incessant Infrastructure upgradation and strict maintenance of law and order play an important role in sustaining the growth of the IT sector in the state. The Congress government needs to focus on these two areas, which seem to have taken a back seat since they assumed office," he said.

On Saturday, State IT Minister Sridhar Babu said that in a year that witnessed a slowdown in overall growth in the Indian IT/ITES sector, Telangana stood out with 11.3 per cent growth.

"For the year ending March 31, 2024, Telangana's total IT sector exports reached Rs 2,68,233 crore, reflecting an 11.2 per cent increase from the previous year. This growth rate significantly outpaces the national average growth of 3.3 per cent. By the end of June 2024, the state's IT exports increased further to Rs 2,69,958 crore," he said.

"The sector now supports approximately 9,46,285 IT professionals, with a net addition of 40,570 jobs in FY24, representing a 4.5 per cent increase in employment," the minister added.