Big guns fuel IT growth in AP
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With the impact of the recession dying down, the Information Technology sector in the state has once again picked up momentum after a gap of three years and it’s the big players who are driving the growth story. Expansions and large-scale recruitments have begun. IT majors such as Mahindra Satyam and Infosys are recruiting heavily, while ADP, Infosys, Mahindra Satyam, TCSN Wipro, Cognizant and Accenture are on the expansion path. This has caused the overall growth to jump by about three to four per cent when compared to last year, indicate industry sources.
Only a few months ago, Hyderabad was battling political unrest and the economic downturn to keep businesses from moving out. But it’s a different picture now. “Currently, all big companies located in Hyderabad are picking up very strongly and bigger companies and MNCs are driving the growth in the city,” indicated Software Technologies Parks of India director P. Venugopal. Second and third tier cities, though, are not seeing similar growth.
The improvement in the economic climate has seen 60 new companies estimated to be added in the city in the last financial year, a majority of them in the last four months. An estimated 10 lakh square feet of space has been taken by software companies across the state over the last year, again, most of it in the last few months, say officials at the ICT Department.
In 2010-11, the growth was around 10 per cent; currently, it is estimated to be 15 per cent. “The growth is mostly due to the big companies expanding here, although no new big players are coming in. However, the existing ones are confident that the political unrest will not impact growth here and are therefore expanding,” said the ITsAP president, Mr L. Suresh.
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