IT: Hyderabad Firms Explore New Territories.

IT and IT-enabled services (ITeS) companies in Hyderabad are slowly and steadily exploring newer regions and non-US territories to export their software services and products.

Countries from Europe, Middle East and the Asia Pacific are some of the newer territories that the companies in Hyderabad are seeing significant traction. While the US still constitutes majority shareholder in terms of software exports, other regions are also evincing interest in doing business with the IT and ITeS companies in Hyderabad.

“The pandemic changed the way businesses are being dealt with, but for the IT and ITeS industry it has been a blessing in disguise. While the US still dominates the export market for the industry with 60% targeted to the American nation, other emerging regions are Middle-East, Europe and Asia Pacific"

Telangana government is taking all necessary steps to promote the industry in tier-2 and 3 cities of the State and the director also informed that STPI is promoting the same. As of now, he said, companies are looking at places like Warangal and Karimnagar, and there is still a lot of potential for these cities.