News/City Updates

Visakhapatnam emerging as a major IT hub in Andhra Pradesh

Visakhapatnam, which is the largest city in Andhra Pradesh, is fast emerging as a major IT hub in the state. In addition to its picturesque locale, availability of other favorable facilities have made multiple firms evince interest to launch their operations in Visakhapatnam.

Andhra Pradesh Chief Minister, Nara Chandrababu Naidu, during his visit to Visakhapatnam in March, inaugurated the office of Conduent Inc. The company, which is headquartered in New Jersey, offers digital platforms for businesses and governments, and operates in 40 countries. Conduent is expected to provide employment to about 5000 people in a phased manner.

Another global giant, Franklin Templeton and Innovation solutions too had its Visakhapatnam centre inaugurated by Chief Minister Chandrababu Naidu last month. The company, which would be investing about Rs 455 crore at this centre, is expected to employ about 2500 people.

Office spaces other IT firms such as Turiya too were flagged off by the CM recently. These companies, once start operating in the city, are not only expected to bolster the technological prominence here but also are also deemed to provide employment to many individuals.

The CII Partnership Summit held in Visakhapatnam in February, witnessed MoUs worth Rs 7000 crore being signed between the government and several IT firms.

Earlier, it was reported that tech-giant Google X too would be launching its research facility in Visakhapatnam.

However, the unavailability of sufficient land space in the city to accommodate these firms posed as a major obstacle for the government. To address the same, the officials have decided to develop an integrated township sprawling over 1360 acres at Kapuluppada in Visakhapatnam. As part of the first phase of development, 19 plots, over 175.91 acres of land, are being developed at a rapid pace.

In addition to being located at a scenic location, the layout is being equipped with other attractive features as well. While 8.86 acres of land will be allocated for the parking space, about 30 acres will be developed for the recreational purposes of the employees.

The IT layout, once launched, will help in bolstering the IT ecosystem in the city further. Earlier, it was reported that a Millennium Tower-B will also be constructed soon in addition to the already existing tower.

Visakhapatnam is also taking rapid strides towards emerging as a major hub for the booming technology of blockchain.

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