Telangana IT sector set for new policy boost

Telangana IT sector set  for new policy boost
Highlights

Information technology sector in Telangana is all set to get a major boost when TRS government led by Chief Minister K Chandrashekar Rao announces it maiden policy for the fast-growing software industry in the city on Monday.

Hyderabad: Information technology sector in Telangana is all set to get a major boost when TRS government led by Chief Minister K Chandrashekar Rao announces it maiden policy for the fast-growing software industry in the city on Monday.

Infosys co-founder N R Narayana Murthy and a host of business leaders from the software industry in India and abroad are expected to grace the occasion and witness the unveiling of Telangana IT policy by the Chief Minister.

Apart from the main IT policy, the State government will also reveal policies specific to four sectors such as innovation (startups), rural technology, electronics and GAME (gaming, animation, media and entertainment).

The policies are expected to provide all necessary support and incentives required to give impetus to the sector to not only sustain the growth in Hyderabad but tap the next wave of growth, as Telangana is looking to double software exports from the current Rs 68,000 crore in next five years. The policy will also have requisites steps and incentives to take the IT sector to tier 2 cities such as Karimnagar, Warangal and Nizamabad.

Telangana government is also using the occasion to sign several memoranda of understanding (MoUs) with various companies willing to invest in the newly-created State. Private sector Yes Bank is inking an agreement with T-Hub incubation centre.

Over the years, Hyderabad has become a premier global destination for IT and ITeS industry in India, next only to Bengaluru. And, the IT industry in Telangana has grown by leaps and bounds in the recent years. There are over 1,300 IT units, employing about 3.7 lakh professionals in the State.

About 89 new units were established during 2014-15, according to Socio-Economic Outlook 2016 of Telangana government released recently.

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