IT Companies’ Fest Begins in Visakhapatnam Ahead of the Partnership Summit!
Ahead of the prestigious Partnership Summit being organized by the Government of Andhra Pradesh, Visakhapatnam is already witnessing a surge of activity from information technology companies. A day before the summit, on November 13, State Minister for Information Technology Nara Lokesh will lay the foundation stones for four IT companies and two major infrastructure projects. Analysts believe that key developments such as the World Trade Center and Raheja IT Space will significantly transform the landscape of Visakhapatnam.
The Partnership Summit, scheduled to be held in Visakhapatnam on November 14 and 15, aims to attract substantial investments in the IT and electronics sectors. As a positive sign ahead of the event, several national and international companies have come forward to launch their operations in Visakhapatnam.
Major corporations like Tata Consultancy Services (TCS), which plans to provide 12,000 jobs, and Cognizant, with 8,000 jobs, are already establishing their development centers in the city. Furthermore, through the efforts of Minister Nara Lokesh, Google has agreed to set up its largest Artificial Intelligence hub outside the United States in Visakhapatnam, with an investment of ₹1.35 lakh crore. Following these developments, more companies are showing interest in setting up operations in the city.
The following companies and projects will be launched tomorrow:
Sails Software: Minister Nara Lokesh will lay the foundation stone for this Advanced Software Innovation and AI Excellence Center at IT Hill No. 3. The facility is expected to create employment for more than 300 IT professionals.
iSpace Software Solutions: The company will launch its unit at IT Hill No. 2, focusing on healthcare IT services and AI-driven solutions. It will also establish a research and development center in Visakhapatnam.
Tech Thammina Software Solutions: Operating from IT Hill No. 2, this company will focus on low-code and AI technologies and aims to provide employment to 2,000 people over the next five years.
Phenom People Private Limited: Minister Nara Lokesh will lay the foundation stone for this Global Development Center at IT Hill No. 2. The project involves an investment of ₹205 crore in two phases and will create 2,500 jobs.
Raheja IT Space and Residential Project: To meet the growing needs of IT companies and employees relocating to Visakhapatnam, Raheja Corp will develop this project at IT Hill No. 3 in Madhurawada. With an initial investment of ₹2,172 crore, it is expected to generate employment for 8,000 people.
World Trade Center (WTC): Minister Nara Lokesh will lay the foundation stone for this international trade center to be developed by the Kapil Group at Yendada. Spanning 7.5 million square feet, the WTC will serve as a hub for business networking, investment attraction, and innovation.
Officials stated that these consecutive project launches reflect the government’s efforts to position Visakhapatnam as a global hub for IT and commerce. They also indicated that the Partnership Summit will further solidify the inflow of new investments into the state.