Hyderabad, Sep 16 (FN Agency) The share of Telangana’s economy in National Gross Domestic Product (GDP) has gone up by 26 basis points to 5 per cent in the current fiscal 2020-21 against 4.74 per cent in 2019-20, Minister for IT and Industries K T Rama Rao said here on Thursday. Speaking after launching Telangana’s 2nd ICT policy 2021-2026 here, Mr Rao said the state’s Gross State Domestic Product (GSDP) during 2020-21 was Rs 9.78 lakh crore and though the growth rate fell due to Covid Pandemic by 1.26 per cent at constant prices (2011-12), it is significantly better than India’s projected GDP contraction at 8 per cent.
He said Telangana is one of the youngest states and one of the fastest growing states in the country, he said the per capita income of the state recorded at Rs 2,27,145 against the National average of Rs 1,27,768. Over the last year, Telangana once against boasted a phenomenal growth in the IT/ITeS sector with an increase of Rs 12.98 per cent to Rs 1,45,533 lakh crore in IT/ITeS exports, the Minister said the state has seen more than double the estimated average National growth rate. The first ICT Policy has set the strategy for the ITE and C department and the goals for the growth in Technology for Telangana over the five-year period from 2016-2021, Mr Rao said that its department has been successful at meeting the goals set out in the policy and in some cases even performing beyond the set targets. This has also shown a strong positive impact on the citizens, investors and the government itself.
Over the last five years, the state has passed several milestones in the IT and Electronics sectors and not only in terms of the growth of the industry but also in adaptation for the public, he informed and said the state has achieved highest annual growth rate in IT/ITeS exports in the last five years in the country and created over 2.5 lakh jobs in this sector. Highlighting the various achievements during the last 5-years, the Minister said Hyderabad also has been rated as the best city to live in by Mercer for 5 years in a row and as the most dynamic city in the World by JLL. While the ICT Policy 2016 has helped Telangana propel itself from being a young state to one of the top achievers in the IT and Electronics adaptation, we understand that there is a need to rethink our approach, he said. Our primary objective to achieve with the 2nd ICT policy is to empower and enable the citizens of the state, belonging to all backgrounds, to take advantage of the growing digital world, he added.