IT Industries Look Forward To More Growth!

Shown resilience during the tough Covid time and documenting incredible growth post-pandemic in the year 2022, the IT and ITES sector looks to gain more traction and spread its wing wider this year.

In 2022, the industry reacted well to the post-pandemic phase with an increased percentage of growth rate and revenue gradient. Given the supportive and proactive approach of the KCR govt, the industry leaders look at the new year as one, that will witness a lot of start-ups prospering and many Indian companies gaining bigger shares and opportunities with the recession in the US.

“This year has been incredible for the IT Industry, especially for Hyderabad. We witnessed huge growth in new companies establishing their shops and others expanding their operations,” says Krishna Yedula, Secretary General of the Society for Cyberabad Security Council.

Hybrid work models are likely to gain more acceptance this year than they did in 2022, when the focus was on working from home and getting back to work.

The start-ups are expected to have a lot more success this year with more investors around to fund projects.

“The start-up ecosystem is a huge impetus as the Telangana government is fostering, promoting, incubating, and supporting them with many initiatives. It will be a huge year for start-ups, especially those that have received funding,” said Bharani Kumar Aroll, President and CEO TechTriad Inc.

With the recession in the US, Indian companies may have more opportunities to expand.

“In the previous year, 4,50,000 new jobs were created in the IT sector throughout the country, and Hyderabad contributed 1/3 rd of these. We are confident we will be able to maintain these numbers,“ says IT and Industries Principal Secretary Jayesh Ranjan.

The main focus is taking the IT industry beyond Hyderabad and expanding across Telangana.