Andhra Pradesh Cabinet approved allotment of 21.16 acres of land to TCS at 99 paise in Vizag. A project brought in by IT Minister Nara Lokesh, the move is set to bring Rs 1370 crore investment and 12,000 jobs.
The move underscores the state’s commitment to attracting major IT investments and boosting employment opportunities.
The symbolic deal follows months of talks initiated by Nara Lokesh and mirrors a strategy by erstwhile Gujarat government, according to Economic Times. TCS intends to start operations in 90 days and eventually employ 10,000 people.
The symbolic deal first reported in MoneyControl, showcases Vizag as a hub for technology and innovation. The idea behind the move is not just about land, but the ‘intent’ of the state government.
However, the deal did not happen overnight. The process began in October 2024, when Lokesh visited the Tata Group’s headquarters in Mumbai. There, he requested the company to choose AP for its next large-scale development center.
This led to several talks between the government and TCS officials. A formal clearance was given in the cabinet meeting on Tuesday.
This can be said to be the ‘Sanand moment’ of IT sector for AP government. A 99-paise deal was done with Tata Motors in Gujarat by then chief minister Narendra Modi, now famous as the Sanand move. A move that was transformative for Gujarat’s motor industry.
As said earlier, TCS will start operations in 90 days, working temporarily out of a rented space. A permanent campus will take two to three years for completion.
Though TCS has not divulged its plans, the state officials are happy about prospects of local employment and economic growth.
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