The Andhra Pradesh Cabinet has given its approval to allocate 21.16 acres of land to the tech giant Tata Consultancy Services (TCS) in Visakhapatnam for a token lease price of 99 paise. TCS will invest Rs 1,370 to build an IT campus on the proposed land in IT Hill Number 3. Moreover, this will create around 12,000 jobs.
“Cabinet approved the allocation of 21.16 acres of land to TCS at Visakhapatnam IT Hill Number 3 for setting up an IT campus to generate 12,000 jobs,” news agency PTI quoted the government statement.
“This is our Sanand moment for the IT sector,” news outlet Moneycontrol quoted a government official. This decision is similar to a strategy used by Prime Minister Narendra Modi when he was the Chief Minister of Gujarat. He allotted land to Tata Motors in Sanand for a token lease price of 99 paise. This decision significantly boosted the state’s automotive industry.
Prior to this allotment, the state’s IT Minister Nara Lokesh visited Tata headquarters in Mumbai in October 2024. He urged the company to invest in the state.
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