The Andhra Pradesh government will be allotting 21 acres land for a symbolic value of 99 paisa to IT firm Tata Consultancy Services (TCS), in Visakhapatnam, in a bid to make the city an IT hub.
The proposal of land allotment has been approved in the cabinet meeting on Tuesday, according to a government official. This move is similar to the central government's move of allotting land to Tata Motors for a symbolic value in Sanand, Gujarat.
The Andhra Pradesh government has been in talks with TCS to get them to establish their presence in the state. Lokesh Nara, the state minister for IT, Electronics and HRD, had earlier stated that TCS will be setting up an IT facility in Visakhapatnam with a capacity of 10,000 employees and the company would create job opportunities.
Lokesh had previously met with N Chandrasekaran, Chairman of Tata Sons, in Mumbai. His ministry and TCS were in active talks to establish presence in the region. Among other IT giants, HCL Technologies already has a presence in Andhra Pradesh with its centre in Gannavaram in Vijayawada.
TCS recently announced its fourth quarter results largely in line with estimates. Its employee headcount at the end of FY25 stood at 607,979, an increase of 625 employees. Attrition rate in the quarter inched up to 13.3% from 13% in the last quarter. The management had noted that it plans to hire 42,000 freshers in FY26 while it would be delaying wage hikes amid the current uncertain business environment.
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