Decent growth for IT firms despite pandemic, says KTR
Despite the Covid19 pandemic, Telangana State achieved a decent growth in information technology and industrial sectors in 2020-21, according to IT and industries minister K.T. Rama Rao.
Releasing the annual reports of the Industries and IT departments on Thursday, Rama Rao said Telangana recorded nearly 13 per cent growth in IT and ITeS exports, which rose to over `1.45 lakh crore. Telangana has managed to do better even in terms of overall economy, he said.
The minister urged the Centre to live up to its commitment of ‘Make-inIndia’ and work with state governments to support MSMEs that are suffering due to the pandemic. The Centre must immediately disburse the `20 lakh crore economic stimulus package announced by Prime Minister Narendra Modi last year, he said.
Telangana added 46,489 new IT jobs in FY 21, taking the total IT/ ITES employment to 6,28,615, the sector witnessing a year-on-year growth of
7.99 per cent compared to
`1.28 lakh crore in FY20. “Despite the Covid19 pandemic, Telangana once again proved its mettle by registering a growth of 12.98 per cent in the IT/ITeS exports at
`1,45,522 crore. TS has seen more than double the estimated average national growth rate during this period and the employment in the IT/ITeS sector has increased by 7.99 per cent,” he said.
Telangana attracted several top global companies like Amazon Web Services, Goldman Sachs,
MINISTER URGED the Centre to live up to its commitment of ‘Make-inIndia’ and work with state governments to support MSMEs that are suffering due to the pandemic. The Centre must immediately disburse the `20 lakh crore economic stimulus package announced by Prime Minister Narendra Modi last year, he said.
and MassMutual last year. Amazon Data Services is setting up three data processing centres in Fab City, Pharma City and Chandanvelly in Telangana with a total investment of `20,761 crore.
On the economic front, Telangana’s growth rate has outperformed the national growth rate and its share in the national GDP has further increased from 4.74 per cent in FY20 to five per cent in FY21. The GSDP (Gross State Domestic Product) during 2020-21 was `9.78 lakh crore.
The growth rate fell due to Covid pandemic by 1.26 per cent but it is significantly better in terms of India's projected GDP contraction at 8 per cent. In 2020-21, the state recorded a per-capita income of
`2,27,145 compared to the national average of Rs
1,27,768. Telangana attracted cumulative investments of `2.15 lakh crore, creating 15.6 lakh jobs since 2015.
The TSIIC developed 10 new Industrial Parks and allotted 810 acres of land to 453 industries with an expected investment of
`6,023 crore and potential employment of 7,623.
AGRICULTURE
The resilience of the Telangana economy was aided by agriculture and allied sectors, which grew by 20.9 per cent, dwarfing the three per cent growth in the same segments at the national level. The primary sector has contributed 20.6 per cent, secondary 19.1 per cent andthe tertiary sector 60.3 per cent to the Gross State Value Added (GSVA) for
2020-21.
The minister said Telangana has unveiled a new single-window industrial policy TS-iPASS in
2015 and the same has facilitated cumulative investments of over `2.14 lakh crore, creating 15.6 lakh jobs.