IT in AP Shows Extremely Positive Development for the Year 2010-11

According to IT and Communications Department of Government of Andhra Pradesh, in the first nine months of current fiscal year of 2010-2011, the amount contributed by IT exports is Rs.25,000 crore (compared to Rs.33,482 crore in all the last year), IT investments reached Rs.5,500 crore (Rs.5,000 crore last year) and the area took up by the industry was 4.2 million sq.ft (8.7 million sq.ft last year).

In terms of employment, in the months of April – December, the industry was able to create 15,000 jobs, which is an increase by one-third over the last fiscal year. The exports are also supposed to touch the Rs.36,000 crore mark by this fiscal year end on March 31st.

According to Team Lease Services Pvt. Ltd., though the IT industry had showed better employment growth, the other sectors are found to be suffering. They are still maintaining caution on hiring and attrition. The overall index points for other sectors had raised by 5.11 points to 16.31, whereas it moved only 1 point in case of IT industry, due to their positive outlook on hiring. For the January- March quarter, Hyderabad’s net employment outlook dropped by 6 index points.