Vijayawada: Continuing its aggressive incentive policy stand, Andhra Pradesh govt has decided to allot land to another IT major, Cognizant Technology Solutions, at 99 paisa per acre in Visakhapatnam. The 21.31 acres will be allotted at Kapuluppada area in the city. The State Investment Promotion Board (SIPB), in its recent meeting, approved the proposal of Cognizant to invest Rs 1,583 crore in its new ITES/IT campus.The state govt earlier allotted about 21 acres to another IT services major, Tata Consultancy Services (TCS), at 99 paisa per acre. The new campus of TCS is likely to be launched by the end of July. TCS has promised to provide 12,000 jobs.IT minister Nara Lokesh earlier announced that the govt is ready to give land to top IT companies at the same price as that of TCS if they come up with a promise of creating employment opportunities for local youth. “The state govt is committed to turn Visakhapatnam into the IT capital of Andhra Pradesh and a new investment destination for companies. To kick off the investment cycle rolling, a trigger is needed, and TCS will be that moment,” Lokesh said earlier, justifying the allotment of land at almost free of cost to TCS. He said Tata Motors went to Gujarat after Narendra Modi, the then chief minister of Gujarat, offered land at 99 paisa per acre. “After Tata Motors landed in Gujarat, an entire ecosystem of automobile industry was created,” said Lokesh.The discussions with Cognizant were initiated during the World Economic Forum summit in Davos. According to sources, Cognizant is planning its investment in three phases. The company has set a target of March 2029 for commencement of commercial operations. The project will be 100% self-funded.Together, TCS and Cognizant will bring 20,000 IT jobs to Visakhapatnam. Apart from direct employment, every job in the IT sector is expected to create indirect employment for four people. Besides TCS and Cognizant, Google is also planning to set shop in Visakhapatnam, which, according to sources, will be another major turning point in creating a whole ecosystem in new and emerging technologies like artificial intelligence and data centres.
