Tata Consultancy Service, the largest company in the country’s largest industrial house, has got more than 21 acres of land for just 99 paise. This is not a joke. According to sources, the Andhra Pradesh cabinet on Wednesday allocated Tata Consultancy Services (TCS) 21.16 acres in Visakhapatnam on a token money of just 99 paise. TCS is planning to build a development center on this land. In which thousands of jobs are expected to be generated. Let us also tell you what TCS and Andhra government is going to do on this land.
This is the entire plan
According to the information, the company is planning to build a development center in the city with an investment of Rs 1,370 crore, which will produce more than 12,000 jobs. According to sources, the discussion for land between the state and the company started in October 2024, when the state IT minister Nara Lokesh visited Tata House and asked TCS to set up a large development center in Andhra Pradesh. A government source said that with constant follow -up action and discussions between the state government and TCS, Lokesh has prepared a pilot project to allocate 21.16 acres of land in Vizag to TCS at a total value of 99 paise. This is a bold decision to indicate the industry that Andhra Pradesh is serious to attract IT investment.
Approval of investment from 57 companies
This has happened at a time when the State Investment Promotion Board (SIPB) has approved the investment of 4.71 trillion rupees by 57 companies since the NDA government came to power last year. This is expected to create 4.17 lakh jobs. The Government of Andhra has targeted to generate about 2 million jobs by targeting more than 40 trillion investment by 2029. The report states that out of this, the state has already received an investment proposal of 8 trillion rupees. Among the new investment proposals, the renewable energy sector will get the highest share, which will attract about 4 trillion rupees from local and international players in eight months, mainly due to the Integratid Clean Energy Policy launched in October 2024, which accelerated the approval and arranged for new incentives.
These companies are investing thick
The main investors include several projects such as Tata Power (Rs 49,000 crore), NTPC Green (Rs 2.08 trillion), Vedanta’s serous (Rs 50,000 crore), SAEL Industries (Rs 6,000 crore) and Brookfield (Rs 50,000 crore). Additionally, renew power is in the process of making considerable investment in the state. Chief Minister N Chandrababu Naidu is comparing the move to allocate land to TCS at a token price of 99 paise, when he was the Chief Minister of Gujarat and provided land to Tata Motors in Sanand for 99 paise. This initiative promoted the development of automobile ecosystem in that state. It also strengthened the image of PM Modi as a pro -industry leader.