Infopark IT Exports Surge 24.28% in 2023-24

Kochi, Sep 3 (PTI) Infopark, Kerala's premier IT hub, has reported an impressive 24.28 per cent growth in IT exports, earning Rs 11,417 crore in 2023-24, a new record in its 20-year history.

The newest figure is in continuation of a major rise over the past eight years, as the value of IT exports from Infopark during 2016-17 was just Rs 3,000 crore. That was when the IT complex housed 328 companies and 32,800 employees in a built-up space of 70 lakh square feet, according to a statement here on Tuesday.

By April 2024, the built-up space at Infopark rose to 92.62 lakh sq.ft., with 582 companies and more than 70,000 employees.

The clear improvement is a result of Infopark's success in capitalising on world-wide digitisation efforts during the times of the Covid-19 pandemic, according to CEO Susanth Kurunthil.

"This generated employment opportunities in the IT sector. In fact, the number has doubled during the period," he pointed out.

IT products were in high demand from early 2020, as companies were prompted to go for innovations in the wake of the outbreak of the novel coronavirus and the resultant new normal, he said.

"As IT firms had to train staff in new technologies to rise to the situation, there was a boom in the sector," Kurunthil added.

Infopark's IT exports were particularly impressive during the Covid times: Rs 6,310 crore during 2020-21 (21.35 per cent annual growth), Rs 8,500 crore during 2021-22 (34.7 per cent growth) and Rs 9,186 crore during 2022-23 (8.07 per cent), as per the statement.

Besides its Phase-1 and 2 campuses at suburban Kakkanad, Infopark has a Thrissur campus in Koratty and another at Cherthala in Alappuzha district.

The 2004-founded Infopark Kochi employs more than 67,000 employees on a built-in space of 87.46 lakh sq.ft that houses 503 IT and ITeS companies.

The campus at Koratty houses 58 companies and 2,000-plus employees, while that at Cherthala has 21 firms and more than 300 employees, the statement added.