Phenomenal Growth Story
Hyderabad, the capital city of Telangana, has created a mark for itself in the information technology space. Telangana has been able to double its IT exports within a span of six years from the time the state was formed. From achieving exports of Rs 66,276 crore for the financial year 2014-15, exports grew to Rs 1,28,807 crore during 2019-20.
The State has also registered a growth rate of 7.8 per cent in IT employment, while the national average stood at 4.59 per cent, 50 per cent higher than the national average.
Despite the Global COVID-19 pandemic badly affecting the last quarter of the financial year 2019-2020, Telangana managed to record a phenomenal 17.93 per cent growth in exports for the full financial year and this is more than double of the national growth.
Hyderabad as IT destination
Telangana is one of the most progressive states in India with policies targeted specifically towards advancing the growth of IT and IT-enabled services (ITES) companies in India.
After the formation of the state, the Government Telangana realised the potential of IT sector and has made conscious efforts to roll out programmes that enable its growth, with the right ecosystem and the investments it requires. All this has made Hyderabad the go-to destination for the IT sector.
Hub for Global IT majors
World’s top IT majors such as Google, Microsoft, Amazon, Facebook and Salesforce have chosen Hyderabad to establish their second largest facilities outside their global bases.
Marquee companies choosing Hyderabad as their preferred destination speaks volumes about the swiftness with which the government operates and also the transparency in the system.