Positioning Vizag as the financial capital of Andhra

In line with the State government's aim to position Visakhapatnam as the financial capital of Andhra Pradesh, 2024 saw major announcements for the City of Destiny.

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In the IT sector, Tata Consultancy Services (TCS) and Google unveiled significant plans for Vizag. TCS announced the establishment of an IT facility with a capacity to employ up to 10,000 people. The project is expected to commence within six months.

Additionally, HCL's (Hindustan Computers Limited) expansion plans have potential to generate 10,000 jobs, complementing the 4,500 positions already created by the company's operations in Gannavaram near Vijayawada.

Google also made headlines with its focus on artificial intelligence (AI). In collaboration with the State government, the tech giant signed a Memorandum of Understanding (MoU) to enhance AI training in schools, colleges, and startups while integrating AI and machine learning (ML) solutions into sectors such as healthcare and environmental sustainability. The company is also set to establish an AI Data Centre in the city.