KTR rejects government’s claim of 11.3% surge in IT exports during 2023-24

KT Rama Rao debunked the claim of the Congress government that the state had witnessed a 11.3% surge in IT exports during 2023-24.

Bharat Rashtra Samithi (BRS) working president and former Telangana information technology minister KT Rama Rao on Tuesday debunked the claim of the Congress government that the state had witnessed a 11.3% surge in IT exports during 2023-24.

KTR pointed out that the state government was quoting the cumulative figures of IT exports in Telangana, since its formation 10 years ago. (File photo)

KTR was referring to a statement made by present state IT minister Duddilla Sridhar Babu on Sunday that for the financial year ending March 31, 2024, Telangana’s total IT sector exports reached ₹2,68,233 crore, reflecting an 11.2% increase from the previous year.

“This growth rate significantly outpaces the national average growth of 3.3%. By the end of June 2024, the state’s IT exports increased further to ₹2,69,958 crore. The sector now supports approximately 9,46,285 IT professionals, with a net addition of 40,570 jobs in FY24, representing a 4.5% increase in employment,” Sridhar Babu said.

The BRS working president, however, pointed out that the state government was quoting the cumulative figures of IT exports in Telangana, since its formation 10 years ago.

He cited statistics wherein the IT exports from Telangana, which were worth ₹57,706 crore in 2022-23 had dipped sharply to ₹26,948 crore in 2023-24. “As for IT employment, 1,27,594 new jobs were created in 2022-23, while in 2023-24, this had fallen to 40,285,” he said, in a post on X.

Sridhar Babu’s statement, however, said the achievement made by Telangana was significant in a year, which had reported a slower growth rate in the Indian IT and IT-enabled services overall. “Telangana stands out with export increasing to grow @11.3% for 2023-24,” he said.

The minister claimed that the Congress government wants to keep up the momentum by concentrating on high-value, cutting-edge technologies like artificial intelligence (AI), semiconductor design, cybersecurity, and data science.

“The state’s strategic focus includes expanding its footprint of Global Capability Centers (GCCs), Centers of Excellence (CoEs), and Global Business Support Centers (GBSCs). With over 200 top GCCs already operating in Hyderabad, Telangana is on track to double this number in the coming years, reinforcing its position as a premier hub for technological innovation and advancement,” the minister’s statement said.

KTR, however, said the latest trends which showed a decline in Telangana’s IT exports and new jobs created in the sector during 2023-24, are a matter of serious concern. “The state had a great run, in terms of growth of IT jobs created and IT exports over the last six to seven years,” he said.

The BRS leader said the IT sector is a crucial engine that fuels the growth of Hyderabad and Telangana. During the tenure of BRS, this sector witnessed unprecedented growth, thanks to several path-breaking policies, he said.

“I urge the Congress government to prioritise the IT and 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,” KTR said, adding that 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 backseat since they assumed office,” he stressed.