Three out of every 10 jobs created in the IT sector in the country are in Telangana, Minister for Finance T. Harish Rao said on Monday.
The Minister, speaking on IT and Industry as part of the Budget speech, said this pointing out that Telangana has emerged as a role model in IT sector.
Hyderabad plays host to more than 1,500 small and big IT companies. The number of people employed directly in the IT sector had increased on account of the proactive measures taken by the Telangana Rashtra Samithi (TRS) government from 3.23 lakh at the time of the State formation to to 6.29 lakh employees. The indirect employment opportunities have also increased, he added.
The Minister said though many sectors were adversely affected due to Covid IT exports from Telangana clocked 12.98% growth. Total IT exports from Telangana were valued at ₹1,45,522 crore in 2021.
Noting that the brand image of Hyderabad has improved after formation of Telangana, he said there is a steady flow of investments into the State due to “good and stable governance and an excellent law and order situation.” The TS-iPASS Act, which was enacted in November 2015, has made the process of clearances for projects very easy. Under the Act, 17,921 industries have been accorded clearances. Of them 13,631 have commenced activities, providing employment to 8.17 lakh people and they have make an investment of ₹1.07 lakh crore.
Telangana, which recently unveiled electric vehicles policy, has attracted investments totalling ₹10,000 crore, he said.
Long-term vision
Welcoming the Budget, Confederation of Indian Industry-Telangana chairman Vagish Dixit appreciated the long-term vision of the State government. The focus on growth is essential for creation of jobs and for generating resources to be spent on health and education of the masses and for social welfare measures.
The Federation of Telangana Chambers of Commerce and Industry president K. Bhasker Reddy said through balanced allocations, the Budget has taken care of all sectors. He said allocation of ₹2,519 crore towards industrial incentives is a welcome measure. The Federation, however, was expecting another ₹500 crore as pending amounts were higher and in view of improvement in revenue generation.
Senior Branch Director–Hyderabad of Knight Frank India Samson Arthur said the emphasis on infrastructure development in Hyderabad reinforces the city's core strength and bound to be positive for the realty sector.
