Visakhapatnam: Chief Minister N Chandrababu Naidu has expressed his confidence that Visakhapatnam will be developed as “the best and most livable city in the world”.

He said this while participating in the ground-breaking ceremony of technology and professional services provider Cognizant here on Friday. The Chief Minister assured the gathering, “With strategic approach, the Visakhapatnam Economic Region (VER) will be developed as $135 billion economy by 2032.”

The ceremony was held for a state-of-the-art 20,000-seat facility of Cognizant in the city. Following strict timelines, the proposed new campus is slated to be completed by 2033 in three different phases with an investment of Rs.1,600 crore. Unveiling the firm’s Interim Techfin Centre in Visakhapatnam, Chief Minister N Chandrababu Naidu said, “This facility is a landmark step in advancing our vision of transforming Andhra Pradesh into a world-class destination where global enterprises can build, innovate, and grow.” Highlighting the advantages of the company's establishment in the city, the Chief Minister mentioned that the investment will generate high-quality jobs, enhance the region’s digital capabilities, and contribute significantly to the state’s innovation-driven and technology-enaled growth.

“Of the total strength, 80 per cent of the IT company’s employees are Indians, including the CEO,” the Chief Minister observed. Further, Naidu exhorted the officials of Cognizant to create job opportunities for one lakh youth in Visakhapatnam and assured all possible support from the government to them in this regard.

About land allotments to IT companies, the Chief Minister underlined that allotting lands at Rs 0.99 paisa per acre for IT companies is nothing but “a game-changer”. The first phase of the construction of Cognizant’s campus will commence in 2026 and accommodate 3,000 associates upon its completion in early 2029. The subsequent phases will yield a total seating capacity of 20,000.

Speaking about the development that is taking place in an accelerated mode in Andhra Pradesh, Minister for IT, Electronics and Communication Nara Lokesh, remarked, “Cognizant’s presence marks a pivotal milestone in Visakhapatnam’s emergence as a thriving hub for technology. This development centre will unlock new opportunities for our youth and further strengthen the city’s position as the economic and financial hub of the state.”

Youth continue to be the torchbearers and they should work hard to achieve success in life, Lokesh emphasised. Exhorting Cognizant employees to make Andhra Pradesh proud, Lokesh assured the firm that Visakhapatnam will be developed further in future. “After meeting Cognizant CEO S Ravi Kumar, we ensured that Cognizant is set up in Andhra Pradesh within a year,” he mentioned. Cognizant will continue its operation in the ad hoc building until its permanent campus gets wrapped up. The centre will focus on modern technology areas such as Artificial Intelligence, Machine Learning, digital engineering and cloud solutions.

Apart from Cognizant's CEO, its executive vice president Gummadi Surya, senior vice-president Tirumala Narayanan, vice-president Gaurav Hazra, Visakhapatnam MP M. Sribharat, district in-charge Minister Dola Sree Bala Veeranjaneya Swamy, Bheemunipatnam MLA Ganta Srinivasa Rao, among others, were present.

Sharing his views, CEO of Cognizant S Ravi Kumar commented, “Today marks a defining step in Cognizant’s growth journey in India. The ground-breaking of our new campus and the opening of an Interim Techfin Centre in Visakhapatnam reflect our confidence in the city’s talent and future potential.”

Even as the project was initiated with an initial target of creating employment to 8,000 people, Ravi Kumar announced that the company intends to provide 25,000 jobs in Vizag campus. The centre features a dedicated client experience zone and collaborative spaces designed to foster teamwork and accommodate more than 1,000 associates based in and around Visakhapatnam.