Telangana Records 12.98% Growth in IT Exports, Hyderabad Now India’s Vaccine Capital, Says KTR
Rama Rao said one of the first RT-PCR Kits approved by ICMR was developed in Hyderabad and the first indigenously developed vaccine for Covid-19 is a result of efforts by Hyderabad-based firm Bharat Biotech.
Hyderabad: Telangana Industries Minister KT Rama Rao has said that the Information Technology and Industrial sectors in the state have been flourishing despite the difficulties faced due to the pandemic.
Rama Rao, or KTR as he is popularly known, released the annual report of the IT and Industrial department in Hyderabad on Thursday. He said the state is developing in all sectors under the able leadership of Chief Minister K Chandrasekhar Rao.
KTR explained that Telangana boasted a phenomenal growth or 12.98 percent in the IT and IT-Enabled Services (ITES) sectors in the exports over the previous year, recording a total of Rs 1,45,522 crore. Telangana, he said, has seen more than double the estimated average national growth rate.
He also stated that the employment in the IT and ITES sector has also increased by 7.99 to reach 6,28,615 during the 2020-2021 period.
“When separate Telangana was formed, there was 3.23 lakh IT employees. Seven years later that number had doubled. The state’s IT sector is creating over 6.28 lakh jobs and more than 20 lakh people are working in the IT sector. IT and entrepreneurs are looking at the state as a result of the efforts of a competent team along with me,” the minister said.
The Genome Valley, the largest R&D cluster in India, is gaining traction as the ‘vaccine capital of the world’ and four out of five leading vaccine manufacturers in India are already in Genome Valley, KTR said.
Speaking about the overall growth of the state, KTR said the Gross State Domestic Product (GSDP) during 2020-21 was Rs. 9.78 lakh crore and the growth rate fell due to the pandemic by 1.26 per cent at constant prices in 2011-12 but significantly better than India’s projected GDP contraction at 8 per cent.
The share of Telangana’s economy in National GDP has gone up by 26 basis point to 5 per cent in 2020-21 against 4.74 per cent in 2019-20. In 2020-21, the state recorded a per-capita income of Rs.2,27,145 compared to the national average of Rs.1,27,768, he added.
