Tech consultancy firm Accenture has proposed to build a new campus in Visakhapatnam, Andhra Pradesh.
Tech consultancy firm Accenture has proposed building a new campus in Visakhapatnam, Andhra Pradesh. This move will further strengthen the company's employment prospects in India. Currently, India is Accenture's largest employee base, with over 300,000 employees.
New Campus and Employment in Andhra PradeshAccenture has requested approximately 10 acres of land from the state government for the campus. The company aims to generate approximately 12,000 new jobs there. The proposal is currently under review, but officials believe it has a high chance of being approved.
Government policies and expansion of companiesThe Andhra Pradesh government is leasing land to large companies at just ₹0.99 per acre in exchange for job creation. Cognizant and TCS have also signed agreements under this policy to build campuses, which are expected to create approximately 20,000 jobs. Cognizant will invest approximately $183 million and TCS $154 million.
Growing IT sector in small townsIn the post-COVID era, IT companies are increasingly moving to Tier-2 cities. Land, rent, and salary costs are relatively low, and local talent is readily available. Meanwhile, uncertainties surrounding H-1B visa policies and taxation in the US have made local expansion even more crucial for the Indian IT sector.