IT industry in Andhra achieves Rs 50,000 cr turnover in 2012

The IT Industry in Andhra Pradesh achieved a milestone by crossing the Rs 50,000 crore turnover mark in year 2012, according to ITsAP, the apex body of software industry

in the state. The state has achieved a turnover of Rs 53,246 crore for the very first time, said the IT and ITeS Industry Association of Andhra Pradesh (ITsAP), the apex body with more than 300 members representing the software industry in the state. The turnover comprises 76 per cent from exports (Rs 40,646 crore) and 24 per cent (Rs 12,600 crore) from the domestic market. The growth rate of the industry in AP  16 per cent - is on par with the national average, the ITsAP said in a release. Another important milestone for IT industry in 2012 was that the direct employment crossed 300,000 for the first time. The industry today provides employment to 13.3 lakh people, of which direct and indirect employment is 3,18,624 and 10,12,769 respectively, the release said. IT exports in AP also contribute to approximately 38 per cent of the state's total exports making the industry as one of the primary contributors to the economic development. The release said 12 per cent of India's IT exports are from AP and the state continues to be the fourth largest domestic exporter.