The recent announcement from Tata Consultancy Services (TCS) regarding the establishment of a new IT facility in Visakhapatnam has sparked excitement among local residents and industry experts alike. With the potential to create approximately 10,000 new jobs, this development is set to significantly enhance the city’s economic landscape. Currently, the IT sector in Visakhapatnam consists of over 200 companies, employing between 25,000 and 30,000 individuals, and TCS’s entry is expected to propel this figure even higher.
O. Naresh Kumar, Vice President of the Rushikonda IT Park Association, highlighted the magnitude of this initiative, stating, “This represents a major leap for the IT ecosystem in both Visakhapatnam and Andhra Pradesh.” He also expressed anticipation for TCS’s official announcement regarding the facility’s launch date, while commending the state government’s initiatives to attract leading IT players like Wipro and Infosys, alongside TCS.
A key aspect of TCS’s presence is its potential to empower women seeking local employment. Kumar pointed out that many families prefer not to have their daughters relocate for work, making this facility a valuable opportunity for local job seekers. “This development is expected to boost the local economy by increasing demand for housing, food services, retail, and more,” he noted.
Currently, around 25,000 employees are engaged in the Information Technology Enabled Services (ITES) sector in Visakhapatnam, which includes personnel from numerous software firms operating with over 1,000 seats in the area. The anticipated introduction of facilities by major companies such as TCS and HCL Technologies is expected to further enhance job opportunities.
Moreover, the demand for residential properties is anticipated to rise as more professionals seek housing near their workplaces. The government has plans to develop new IT parks and incubation centers to support this burgeoning sector, including proposals for an Integrated Technology Park and two new IT concept cities in Rushikonda and Bhogapuram.
Srinivas, the General Secretary of CREDAI, noted that real estate prices have surged to unprecedented levels, reaching around ₹10,000 per square foot. He highlighted a notable shift in buyer expectations post-COVID-19. The city’s appeal is heightened by its proximity to major courts, public centers, and scenic beach areas, making it attractive to both working professionals and retirees.
Areas near the IT hub, particularly neighborhoods like Madhurawada, are becoming increasingly sought after, with square foot rates ranging from ₹7,000 to ₹10,000. Minimal price variations are observed in Rushikonda and Sagar Nagar, where the average cost of a two-bedroom flat is now around ₹34 lakh.
In a heartwarming story, a 29-year-old BBA graduate, Margani Venkata Seshu, shared his fond memories of meeting industrialist Ratan Tata multiple times. After hearing of Tata’s demise, Seshu expressed his heartbreak, recalling the memorable occasions when he took his parents to meet Tata. An animal lover, Seshu often communicated with Tata, sharing sketches of animals, which garnered appreciation from the industrialist.
Seshu reminisced about presenting a sapling to Tata during their first meeting in 2018 and how a special dry-fruit laddu made by his mother was well received by Tata on one occasion. “Those moments remain etched in my life forever,” he stated.
As Visakhapatnam prepares for the arrival of TCS and the associated economic growth, the stories of local residents like Seshu highlight the deep connections that enrich the community’s fabric.
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