Tech giants Infosys and Accenture are expected to announce their plans for establishing development centres in Andhra Pradesh as the state government extends incentives, says a CNBC TV-18 report.
The reports stated that as part of the incentives to attract the tech companies, the Andhra Pradesh government is selling the land for development centres to the tech companies at a token price of Rs 99 paisa. Infosys and Accenture will invest a total of Rs 2,000 crore in the state, the report adds.
As part of its push to attract more industry, the state has signed 401 MoUs promising an inflow of Rs 9.8 lakh crore investment at the CII Partnership Summit. “Andhra Pradesh will be the gateway to enter the global market with immense opportunities in various sectors. Ease of doing business, speed of doing business and cost of doing business in Andhra Pradesh is unprecedented,” N Chandrababu Naidu, Chief Minister of Andhra Pradesh, said at the summit.
Andhra Pradesh MoU with Taiwan companies
Among the key MoUs signed at the CII Summit, Andhra Pradesh inked two agreements with Taiwanese companies Allegiance Group and Creative Sensor Inc for an investment of Rs 18,400 crore.
As part of the deal, Creative Sensor will establish India’s first 23 GWh precursor-free single-crystal cathode active material and a solid-state electrolyte manufacturing facility. As per the Chief Minister, the CM, this investment will generate around 2,000 direct jobs.
Similarly, Allegiance Group will set up an industrial park across 470 acres in Kuppam with an investment of Rs 400 crore, creating about 50,000 direct and indirect jobs.