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Led by Ggm, IT exports from Haryana grew to Rs 56,000 crore in FY2018-19

Gurugram: Led by Gurugram that houses over 90 percent of the information technology (IT) firms in the state, the IT exports from Haryana has now risen over Rs 56,000 crore in the financial year 2018-19.

The growth of IT exports have also been substantial and have seen an increase from Rs 48,806 crores in FY2017-18 to Rs 56,497 crore in FY2018-19. The growth in revenue from the IT exports continue to be prevalent from the time the big IT firms began setting up their offices and service centers in the city from the year 2000. In FY2004-5 where the IT exports were at Rs 7300 crore, in just two years the value increased to Rs 14,000 crores.

In FY2011-12 the IT exports were Rs 25,500 crore which in FY2015-16 grew up to Rs 46,200 crores. In terms of IT exports Gurugram is placed third in number after Bengaluru and Hyderabad. The data of increase in the revenue comes as a major silver lining for the economy of the the city where the economic data from other sectors have not been encouraging. Besides the information technology, Gurugram also has huge investments in real estate, automotive, textiles, retail, and plastics.

The adverse effects of the slowdown were recently seen in the automobile industries where a large number of workers were laid- off. Even as the commercial real estate in Gurugram is doing well the residential real estate has still not picked up to a great extent in the city. While the IT firms continue to rake in a lot of money for the city and the state, what can be a major concern for the officials is to attract more investments in the IT sector. Even as there are over 1500 startups in the city, the major concerns for the Haryana government is that the amount of investments is not meeting the expected levels. Taking cognisance of the growing potential of the IT firms, the Haryana government is creating various schemes which can boost the investment of the IT firms in the city. Most of these schemes being supervised by the Chief Minister Manohar Lal Khattar himself.

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