Major IT company, HCL Technologies, is on plans to set up two facilities in Andhra Pradesh which would create 7,500 jobs in 10 years.
As per an officially released statement, the company would be establishing its operations in AP in two phases.
An R&D centre would be built in Kesarapalli village in Gannavaram in the first phase. The company would be investing Rs 400 crore for the establishment. It is expected to provide jobs to more than 4000 IT professionals. The foundation stone was laid on October 8.
In phase II, a campus would be built in 20 acres in Amaravati, the new capital of Andhra Prades. It is expected that Rs 350 crore would be invested and create around 3,500 jobs in 5 years of time.
Coming to IT SEZs, about 25 percent of the country’s total exports are contributed by IT SEZs and the developers of these enjoy tax benefits besides clearance from a single window mechanism. Involving various sectors such as IT, pharma, textile, food processing, leather, biotechnology and diamond polishing, a total number of 223 SEZs with 5,146 units are established in the country. Most of these zones function in Andhra Pradesh, Telangana, Tamil Nadu, Karnataka, and Maharashtra.