Cognizant to invest ₹1,500cr in Andhra Pradesh, create 8,000 jobs
What's the story
IT giant Cognizant has announced plans to establish a new campus in Andhra Pradesh. The company will invest over ₹1,500 crore in the project and create around 8,000 jobs. Nara Lokesh, the state's Information Technology Minister, made the announcement today. The campus will be set up on a 22-acre site at Kapuluppada IT Hills in Vizag, and will be developed in three phases.
Economic impact
Project aims to promote digital skilling in tier-2 cities
The IT Minister said that the government's approval for Cognizant's project is aimed at making Andhra Pradesh a global technology hub and promoting digital skilling in tier-2 cities. He added that the company's presence will boost the regional digital economy, improve tech skills, and take advantage of the state's infrastructure and business-friendly policies.
Timeline
Operations from temporary facility for 800 employees
Cognizant will start operations from a temporary facility for 800 employees until phase I of the permanent campus is ready by early 2029. "We are proud to expand in the port city and thank the government for its progressive support," said Cognizant CEO S Ravi Kumar. He added that Vizag offers rich talent and strong infrastructure, which fits into their strategy of investing in high-potential regional locations.
Workforce development
Support for Cognizant's global transformation delivery capabilities
The new campus will help build an inclusive, innovation-driven digital workforce and support Cognizant's global transformation delivery capabilities. Kumar emphasized that India is central to their operations with over 70% of their 3,36,300 global associates based in different Indian delivery locations. This move by Cognizant is likely to have a significant impact on the state's economy and job market in the coming years.