Infopark Kerala Records Historic 24.28% Growth in IT Exports

Infopark, Kerala's leading IT hub, has achieved a remarkable 24.28% growth in IT exports, reaching Rs 11,417 crore in the fiscal year 2023-24. This milestone is the highest in its 20-year history. The growth continues a trend seen over the past eight years, with IT exports valued at Rs 3,000 crore in 2016-17. At that time, Infopark housed 328 companies and employed 32,800 people within a built-up space of 70 lakh square feet.

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By April 2024, Infopark's built-up area expanded to 92.62 lakh square feet, accommodating 582 companies and over 70,000 employees. CEO Susanth Kurunthil attributed this growth to the global digitisation efforts during the Covid-19 pandemic, which created numerous employment opportunities in the IT sector. "The number has doubled during the period," he noted.

Infopark's Expansion and Employment Growth

Infopark Kochi, established in 2004, employs more than 67,000 people within an 87.46 lakh square feet built-up area that houses 503 IT and ITeS companies. The Koratty campus hosts 58 companies with over 2,000 employees, while the Cherthala campus accommodates 21 firms with more than 300 employees.

The demand for IT products surged from early 2020 as companies sought innovations due to the novel coronavirus outbreak and the resulting new normal. This situation required IT firms to train staff in new technologies, leading to a sector boom. "IT products were in high demand from early 2020," Kurunthil said.

Impressive Growth During Covid Times

During the Covid-19 pandemic, Infopark's IT exports were particularly notable: Rs 6,310 crore in 2020-21 (21.35% annual growth), Rs 8,500 crore in 2021-22 (34.7% growth), and Rs 9,186 crore in 2022-23 (8.07% growth). These figures highlight Infopark's ability to adapt and thrive during challenging times.

Infopark's success is also evident in its multiple campuses. Besides its primary locations at suburban Kakkanad (Phase-1 and Phase-2), it has a campus in Thrissur at Koratty and another in Cherthala within Alappuzha district. These expansions have significantly contributed to its overall growth and employment numbers.

The clear improvement is a result of Infopark's strategic efforts to capitalise on worldwide digitisation trends during the pandemic. This approach not only boosted employment but also doubled the number of employees over the period.

Infopark's achievements underscore its role as a significant player in Kerala's IT sector. The hub's continuous expansion and adaptation to global trends have positioned it as a key contributor to the state's economy.

The latest figures reflect Infopark's ongoing commitment to innovation and growth within the IT industry. As it continues to expand its infrastructure and workforce, Infopark remains a vital component of Kerala's economic landscape.