Information Technology is the heart of Telangana’s Finances as it is the blood of the state’s growth engine, Hyderabad. According to Official numbers, the state had registered IT Exports to the tune of 85470 Crore in 2016-17 with an impressive growth rate of 13.85%.
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Telangana IT Industry also added 24506 new employees in the same year which takes the total employment of the sector to a whopping 4,31,891. These numbers are of direct employment and there are numerous other indirect jobs and businesses surviving in the IT industry and its growth.
In fact, except for Hyderabad and Rangareddy districts where the IT Industry is prevalent, all the other districts of Telangana are reeling mostly under poverty and backwardness. It is the income generated through Hyderabad via IT funds the State and even made it a Surplus Budget State.
It has to be seen how Hyderabad faces the looming IT Crisis in the next one year given that there are rumors that due to the administration change in the United States, massive layoffs are on the card. Already there are repercussions of that being felt in the city. So, the next fiscal numbers will be crucial and interesting.
