Cognizant to Invest ₹1,582 Crore in Vizag IT Hub

Global IT giant Cognizant Technology Solutions is making a significant investment in Andhra Pradesh's tech industry. The company plans to inject ₹1,582 crore into a new IT campus in Visakhapatnam. This initiative is expected to generate 8,000 jobs over the coming years, marking a substantial boost for the region's economy.

The Andhra Pradesh government has agreed to allocate 21.31 acres of land at Kapulauppada for this project. Remarkably, the land will be provided at a nominal rate of just 99 paisa per acre. This move is seen as a major success for AP IT Minister Nara Lokesh, who has been actively promoting investments and establishing Vizag as the state's IT capital.

Investment and Job Creation

Cognizant aims to commence commercial operations from the new campus by March 2029. The company is fully funding this project independently, without any external financial assistance. This decision reflects Cognizant's strong belief in Andhra Pradesh's growth potential and its commitment to the region.

This development further cements Andhra Pradesh's reputation as an emerging hub for technology companies. Vizag, in particular, continues to draw attention as a promising IT center on India's east coast. The state's strategic initiatives are paying off, attracting major players like Cognizant to invest heavily in its future.

Strategic Location and Future Prospects

The choice of Visakhapatnam for this new campus underscores its growing importance in India's tech landscape. With its strategic location and supportive government policies, Vizag is poised to become a key player in the country's IT sector. Cognizant's investment is likely to inspire other companies to consider similar ventures in the region.

This project not only highlights Cognizant's confidence in Andhra Pradesh but also showcases the state's commitment to fostering a conducive environment for technological advancement. As more companies look towards Vizag, it stands ready to become a central hub for innovation and growth.

Overall, this initiative by Cognizant represents a significant milestone for both the company and Andhra Pradesh. It promises economic growth, job creation, and technological progress, positioning Vizag as a leading destination for IT investments on India's east coast.