Hands down the latest destination, IT companies in Vizag are making a beeline to cash in on the new technologies here like block chain, data analytics, cyber security etc. Brand Vizag to become – “City of the Future.”
Every big name in the world of new age technology, be it IT companies in Vizag or financial have now started looking at our city as the hub of development and investment. The Fintech Valley in Visakhapatnam is being promoted actively by the leaders and there is no stone left unturned towards this end. The loss was Andhra’s after the bifurcation of two states but the state has regained pace to place itself on the IT and technology map. It is here that IT comanies in Vizag can be mentioned as coming together into a hub of new technology.
Rather than look at existing modes of investment generation and current technologies, the state is focusing on new technology as a growth driver with success in the long run as the aim. Investing in infrastructure at Visakhapatnam, AP will build up from base level what was lost. In the past few days we have witnessed a number of companies that have expressed keen interest in starting operations here.
As per News Minute – ‘Fintech Valley, which completed one year this month, has attracted nine Fintech companies while 19 others are in the pipeline. It has also roped in 20 partners, including the country’s top banks and ports, to create a repository of use cases in blockchain technology.’
Let us look the big players that are headed here –
- Mahindra Finance
- Tata Capital
- State Bank of India
- Thomson Reuters
- Broadridge Capital
- Conduent, to invest 649 crores for setting up a development center in Vizag.
- Wipro for block chain practice
- National Stock Exchange to set up a data centre
- Lots more.
Having a look at the list proves that new technology drivers in the city are the key to willingness of Tech companies to set up development centers in Visakhapatnam and financial companies to set up accelerators. Fintech Valley here has already taken off to a great start and the efforts of the state government in securing the necessary base infrastructure will result is a boom. Fintech Valley in Vizag will give everything that is required for a modern IT valley such as the ones else where in India such as Bangalore. A series of promotional activities by the It Ministry such as seminars, workshops, hackathons etc are being organized for further encouragement.
We are definitely looking at Visakhapatnam, the City of Destiny emerging as the city of new technology. A City of the Future for the IT companies in Vizag.