Hyderabad: Telangana has secured the top position in the country for IT export growth, IT and Industries minister D Sridhar Babu said on Friday, October 18.
In the financial year 2023-24, the state’s IT exports soared to Rs 2.68 lakh crore, marking an impressive growth rate of 11.2% compared to the previous year.
The announcement was made during the inauguration of the Global Capability Centres (GCC) Innovation Summit held at T-Hub.
Minister Sridhar Babu emphasized the pivotal role of GCCs in this growth trajectory, stating that numerous international and national IT giants have already established GCCs in Hyderabad.
He also noted that several IT companies based in Hyderabad are expanding their operations to tier-2 cities, with expectations for significant increases in these numbers soon.
As part of the summit, eight national and international IT companies signed mutual understanding agreements with T-Hub in the presence of minister Sridhar Babu.
The participating companies include Medtronic, Toronto’s Business Development Centre, Institute of Electrical and Electronics Engineers (IEEE), Summit Consulting Services, Transition VC, Fuzzie, New Relic, and PayU.
The event was attended by key officials including Jayesh Ranjan, special chief secretary of IT and Industries, a press release informed.
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