Visakhapatnam set for tech boom as chief minister lays mega foundations

The Andhra Pradesh Chief Minister, N Chandrababu Naidu, laid the foundations for 8 tech companies and the ground-breaking ceremony for Cognizant in Visakhapatnam on 12th December. 

“Visakhapatnam will be developed as a world-class future Knowledge and technology hub with the best living standards,” said Chief Minister N Chandrababu Naidu. The Chief Minister expressed that several global companies, including Google, Microsoft, and Amazon, are ready to set up offices in Visakhapatnam.

Participating in the groundbreaking ceremony of Cognizant Technologies here today, along with Minister for IT Nara Lokesh, the Chief Minister said Visakhapatnam will be a game changer in the technology revolution, and the surrounding districts will be developed as an economic region.

The state government has allocated 22 acres of land for Cognizant. The company has committed to investing Rs 1,583 crore to establish an 8,000-seat facility in Visakhapatnam. Initially, the company began its operations with 1,000 associates.

Speaking on the occasion, the Chief Minister said that the Cognizant CEO promised to increase the employee strength to 25,000. He expressed his happiness in laying the foundations for eight other companies, including Tech Tammina, Satwa Developers, Imaginnovate Tech Solutions India, Fluentgrid Limited, Motherson Technologies, Qorp Technosoft, CAN Healthcare, RCM Services and Nanrel Technologies. The Chief Minister stated that an ecosystem was developing in Visakhapatnam as a future technology hub. He promised to cooperate with Cognizant and urged them to complete the campus construction in less than a year.

Future Developments:

The Chief Minister said Visakhapatnam will emerge as a knowledge economy and IT destination. With the opening of India’s longest glass bridge and the completion of Bhogapuram airport, Vizag has the potential to become a budding tourism hub. He also pointed out that the cost of living is 20 per cent less when compared to other cities. He said that Andhra Pradesh has attracted investments of more than Rs 20 lakh crore, including Rs 13.5 lakh crore during the CII partnership in Visakhapatnam alone. The Quantum Valley will be developed in Amaravati, and the first quantum computer will be produced within six months.

The Chief Minister said that the state government is giving top priority to industries and start-ups through the speed of doing business and opening of Escrow accounts. He said the growth rate in AP will increase to 15 per cent soon.

Addressing the meeting, Minister Nara Lokesh said that Andhra Pradesh will be developed as an economic powerhouse. He stated that the foundation of the Cognizant company will become a milestone in the development of Visakhapatnam as a global technology hub. He appealed to the company’s first batch of employees to become brand ambassadors of AP.

Earlier, Cognizant CEO Ravikumar addressed the gathering and thanked the state government for its cooperation and efficient business approach. Ravikumar expressed that the company looks forward to unlocking the full potential of Visakhapatnam’s talent and innovation spirit.

District In-Charge Minister D Balaveeranjaneyulu, APIIC Chairman M Rama Raju, Cognizant President (Global Operations) Rajesh Varrier, Cognizant USA President Surya Gummadi and others were present.

Also read: Special trains announced to ease festive rush among passengers

Stay tuned to Yo! Vizag website and Instagram for more city and news updates.