The sector responded positively to the post-pandemic phase in 2022, increasing its percentage growth rate and revenue gradient.
Hyderabad: The IT and ITES industry hopes to gain greater traction and extend its wings broader this year after demonstrating perseverance during those challenging Covid days and charting amazing progress following the pandemic in the year 2022.
The sector responded positively to the post-pandemic phase in 2022, increasing its percentage growth rate and revenue gradient. The industry professionals anticipate that the coming year would see many start-ups flourishing and many Indian firms acquiring larger shares and possibilities as a result of the recession in the US given the supportive and aggressive stance of the Telangana government.
In the upcoming quarter, there will be an increase in IT towers in the smaller towns that fall under tier-2 and tier-3 cities as the State government’s initiative to broaden the scope of IT operations in tier-2 locations takes form.
“The IT industry has had a phenomenal year, particularly in Hyderabad. According to Krishna Yedula, secretary general of the Society for Cyberabad Security Council, “we saw tremendous development in terms of new businesses opening up shop and existing businesses increasing their operations.
While working from home and returning to the workforce were the focus of 2022, the hybrid work paradigm is anticipated to gain more traction this year.
Many businesses are realising that collaboration within teams is the only way for employees to progress professionally.person. Therefore, there will be flexibility in working days and hours, but there may be more of a drive for teams to function as a unit, according to Deepthi Ravula, CEO of WE-Hub.
This year, with more investors available to fund initiatives, start-ups are anticipated to have a lot more success.
“The Telangana government is cultivating, promoting, incubating, and supporting them with several programmes, which has greatly boosted the start-up ecosystem. Start-ups are in for a big year, especially the ones that have gotten investment, said Bharani Kumar Aroll, president and chief executive officer of TechTriad Inc.
Given the US recession, Indian businesses may have more opportunity to hire skilled labour and grow.
“4,50,000 new jobs were created in the preceding year,”
generated nationwide in the IT industry, with Hyderabad accounting for one-third of these. We are sure that we can maintain these levels, says Jayesh Ranjan, principal secretary for IT and Industries.
The primary goal is to develop the IT sector throughout Telangana and beyond Hyderabad. “IT Towers in Karimnagar, Warangal, and Khammam are already functioning, and many larger corporations have started coming to these places,” says Vijay Rangineni, CEO of IT Investments, Government of Telangana. In the upcoming quarter, Nizamabad, Mahabubnagar, and Siddipet will all see the opening of IT towers, while Nalgonda will follow in the middle of the year.
