NewsCorporate ActionsAndhra Pradesh's Bold Move: 99 Paise Land Allocation to Accenture and Infosys Under IT Expansion DriveAndhra Pradesh's Bold Move: 99 Paise Land Allocation to Accenture and Infosys Under IT Expansion Drive
The Andhra Pradesh government plans to allocate land to tech giants Accenture and Infosys for a nominal fee of 99 paise as part of its IT expansion drive. This initiative, under the state's LIFT Policy 4.0, aims to attract investments and create job opportunities in tier-2 cities. The combined investments from these companies are expected to reach around ₹2,000 crore. Similar land allocations have previously been made to TCS and Cognizant. This move is part of Andhra Pradesh's strategy to establish itself as a major IT investment destination in South India.
*this image is generated using AI for illustrative purposes only.
In a strategic move to boost its IT sector, the Andhra Pradesh government has unveiled plans to allocate land to tech giants Accenture and Infosys for a nominal fee of 99 paise. This initiative, part of the state's ambitious IT expansion drive, is expected to attract significant investments and create numerous job opportunities in the region.
Key Highlights of the Initiative
- Land Allocation: Andhra Pradesh government to provide land to Accenture and Infosys for just 99 paise
- Expected Investment: Combined investments likely to reach around ₹2,000 crore
- Policy Framework: Falls under the state's LIFT Policy 4.0
- Objective: Promote technology-led job creation in tier-2 cities
Investment Details
| Company | Expected Action |
|---|---|
| Accenture | To announce development center plans |
| Infosys | To announce development center plans |
This move is part of Andhra Pradesh's broader strategy to establish itself as a major IT investment destination in South India. The state is leveraging incentives to attract global technology companies, particularly to its tier-2 cities.
Previous Similar Initiatives
The government's approach is not unprecedented. Similar land allocations have been made to other major IT players:
| Company | Allocation Details |
|---|---|
| TCS | Facility in Adibatla |
| Cognizant | Technology center in Visakhapatnam |
LIFT Policy 4.0
The land allocation to Accenture and Infosys falls under the state's LIFT (Leveraging Innovation for Transformation) Policy 4.0. This policy is designed to:
- Promote technology-led job creation
- Focus on development in tier-2 cities
- Attract global technology companies
By offering such attractive incentives, Andhra Pradesh aims to diversify its economic landscape and create a robust IT ecosystem across the state, moving beyond traditional tech hubs.
The move signifies the government's commitment to fostering a conducive environment for IT sector growth. As these tech giants establish their presence, it is expected to create a ripple effect, potentially attracting more investments and transforming Andhra Pradesh into a significant IT hub in the region.
While the exact details of the development centers and their capacities are yet to be announced, this initiative marks a significant step in Andhra Pradesh's journey towards becoming a key player in India's IT landscape. The success of this venture could set a precedent for other states looking to boost their IT sectors through innovative policy measures.
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