Defying Covid, Kerala Technopark's IT exports grow

Thiruvananthapuram, Dec 13 (IANS) Despite adverse market conditions due to Covid-19, the principal IT hub of Kerala, Technopark's software IT exports grew by 7.7 per cent during the previous fiscal, according to official figures from the IT hub.The exports grew from Rs 7,890 crores in 2019-20 to Rs 8,501 crores in 2020-21.The IT complex opened shop in the mid nineties and since then the available IT space has crossed 10 million square feet, in which 460 companies of various size and shape provide direct employment to 63,000 people.The CEO of Kerala IT Parks, John M Thomas, said the growth in software exports shows the strength and resilience of the AIT companies even in adverse market conditions."With the ongoing campus modernisation efforts at Technopark and completion of big ongoing infrastructure development projects, we are expecting higher export growth both by enabling organic growth of existing firms and by attracting new global corporations," said Thomas.In recognition of its excellent financial stability, CRISIL had upgraded Technopark's credit rating to A Plus earlier this year, which incidentally was the highest credit rating achieved by the park in the past one decade.The park's financial health remained robust despite the offering of relief to companies for rent payment and forgoing rental escalation for the fiscal due to Covid-19.
--IANS sg/sks/bg

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