Overview

• The Andhra Pradesh Cabinet has officially approved the allocation of 21.16 acres of land in Visakhapatnam to Tata Consultancy Services (TCS) for a token lease price of 99 paise.
• TCS plans to invest ₹1,370 crore to establish an IT development center on the site, which is projected to generate approximately 12,000 jobs.
• The initiative, led by IT Minister Nara Lokesh, began with negotiations in October 2024 and is part of the state’s broader strategy to attract significant IT investments.
• The move is being compared to Gujarat's 99-paise land allotment to Tata Motors, which catalyzed industrial growth in that region.
• Additional Cabinet approvals include land allocations for industrial parks, a hospital, and a temple, further advancing Andhra Pradesh’s infrastructure development goals.