: IT/ITeS, Infrastructure Drive Growth in Telangana CREDAI-ANAROCK Report #IndiaNEWS #Press Releases State witnessed INR 1. 5 Lakh Cr. worth IT exports in 2020-21 a 12. 98% rise against the preceding

IT/ITeS, Infrastructure Drive Growth in Telangana CREDAI-ANAROCK Report #IndiaNEWS #Press Releases
State witnessed INR 1. 5 Lakh Cr. worth IT exports in 2020-21 a 12. 98% rise against the preceding year; 2. 21X growth in IT/ITeS exports compared with the national averageMore than 6. 3 Lakh employees presently working in IT/ITeS sector in TelanganaOther than Hyderabad, various companies already exploring Warangal, Karimnagar & Nizamabad as alternate IT/ITeS hubs due to availability of cheaper land, sound infra & presence of many professional colleges; CYIENT & Tech Mahindra open offices in WarangalSustained physical infra development in past & multiple upcoming mega projects (expansion of railways network, greenfield & brownfield airports, industrial corridors, Regional Ring Road, & metro rail corridors) to unlock future potential of new growth corridors in TelanganaLarge base of MSMEs provides ample opportunities for industrial development; 13,379 total registered MSMEs since 2014 in stateMedchal-Malkajgiri, Sangareddy, Rangareddy, Karimnagar districts account for majority MSME units, investment, & employment across state; these districts have high potential to be developed as affordable housing destinationTelangana, Indias youngest state, has grown exponentially since its formation in 2014. A vibrant IT/ITeS sector and robust infrastructure development are prime growth drivers in the state, reveals the CREDAI-ANAROCK report Telangana: A State on the Move. With a strong presence of large IT/ITeS companies, the state witnessed INR 1. 5 Lakh Cr. worth IT exports in FY 2020-21 a 12. 98% rise against the preceding year. Telangana witnessed 2. 21 times growth in IT/ITeS exports compared with the national average. More than 6. 3 Lakh employees are presently working in the states IT/ITeS sector. IT EmploymentVarious IT/ITeS companies are casting their nets beyond Hyderabad, exploring Tier II cities like Warangal, Karimnagar and Nizamabad as alternate IT/ITeS hubs. These cities offer cheaper land, sound infrastructure, and a strong talent pool emerging from many professional colleges there. Companies like CYIENT and Tech Mahindra have already opened their offices in Warangal. CREDAI-ANAROCK report Telangana: A State on the MovePrashant Thakur, Sr. Director & Head Research, ANAROCK Group says, Currently, IT/ITeS activities are largely concentrated at Gachibowli, Madhapur, and Nanakramguda in Hyderabad. However, COVID-19 changed the working dynamics for the sector as WFH gained universal acceptance and adoption. This may lead to the decentralization of IT/ITeS companies from tier I to tier II cities due to the latters rich talent pools. Various companies are already exploring Warangal, Karimnagar, and Nizamabad as the next IT/ITeS destinations.

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