Andhra Pradesh allots 21.16 acres to TCS for 99 paise

In a major move to position Visakhapatnam as a leading IT hub, the Andhra Pradesh Cabinet has approved the allotment of 21.16 acres of land to Tata Consultancy Services (TCS) at just 99 paise. TCS is set to invest ₹1,370 crore to build a large development centre, which is expected to create 12,000 jobs in the city.

According to a state government release, IT and Electronics Minister Nara Lokesh played a key role in securing this investment. His pitch to TCS during his visit to Tata House in October 2024, followed by consistent follow-ups, led to this milestone deal.

“This is a bold move that underlines Andhra Pradesh’s commitment to attracting IT investments,” the government stated.

Chief Minister N Chandrababu Naidu had earlier hinted at this possibility during his meeting with N Chandrasekaran, Chairman of Tata Sons, in Amaravati. The state also formed a Task Force for Economic Development, co-chaired by Chandrasekaran, to fast-track such initiatives.

The decision mirrors Prime Minister Narendra Modi’s earlier move as Gujarat Chief Minister, when land was allotted at 99 paise to Tata Motors for its now-defunct Nano plant in Sanand.

Developing Visakhapatnam as an IT hub was a key poll promise of Naidu, who pledged to generate 3 lakh jobs in five years. The state is also planning a 500-acre Data City near Visakhapatnam and has signed an MoU with Google for setting up an AI Data Centre in the region.