By Admin 
Cognizant: Chandrababu Naidu’s government in Andhra Pradesh has made a deal with IT company Cognizant. Under this, the company will get a land in the city for just 99 paise. Just two months ago, the government here had entered into a similar agreement with India’s largest software company Tata Consultancy Services (TCS).
Large investment going to cognizant
Cognizant’s headquarters are in Taink of New Jersey. The company has promised an investment of Rs 1,582 crore in the next eight years in the coastal city of Visakhapatnam in Andhra Pradesh. The company’s plan is to build an IT campus here, which will provide jobs to around 8,000 people. According to the CNBC report, the campus will be located about 600 kilometers from Hyderabad and 800 km from Chennai after Bengaluru. It is expected that Cognizant will start its commercial operation in Visakhapatnam by March 2029.
Visakhapatnam ready to become a new IT hub
After giving 21 acres of land to TCS in April this year, the state’s technology minister Nara Lokesh told CNBC that his goal is to make Visakhapatnam a new hub for IT investment. Let us know that the cabinet of Andhra Pradesh had approved allotting 21.16 acres of land to TCS at a token lease price of 99 paise in Visakhapatnam in April. The company had promised an investment of Rs 1,370 crore to build an IT campus in this land found in IT Hill No. 3. With this, 12,000 people are expected to get jobs.
ESIC and Steel Plant also given land
Apart from this, the cabinet also approved the proposal of Mahamaya Industries Limited to increase the scope of its steel plant in Vijayanagaram. On behalf of the cabinet, ESIC (Employees State Insurance Corporation) was also given 6.35 acres of land in Nadimpalem of Patapadumandal in Guntur district, so that 100 -bed hospital and residential quarters could be made.
Why is the government giving land for 99 paise?
This deal of 99 paise is such a strategy of the government to attract investment on a large scale. This will create new industries, then infrastructure will be better, jobs will increase in the state and the economy will benefit.
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