TCS to invest in Kerala digital hub
TCS, the world's largest information technology company, will invest between Rs 1,200 and Rs 1,500 crore to expand its operations in Kerala and has signed a Memorandum of Understanding with Technopark here to lease 97 acres of land on its Technocity campus to establish a digital hub for engineering, product development, and information technology services across manufacturing, defence, and aerospace sectors, with a focus on next-generation technologies.
According to an official spokesman, TCS expects to complete the first phase of the project within the next 22-28 months, which will produce 5,000 jobs. Chief Minister Pinarayi Vijayan, who witnessed the signing of the MoU, stated that the TCS investment comes at a time when major IT businesses have either cancelled or delayed plans to invest large sums in expansion.
The quest to become a knowledge-based economy
When completed, the project will generate 20,000 direct jobs, a significant step forward in the state's drive to establish a knowledge economy, according to the Chief Minister. TCS's new technology hub will focus on artificial intelligence, machine learning, robots, the Internet of Things, data analytics, and blockchain.
The Chief Minister assured TCS that they would receive all necessary assistance in wrapping up their investment and completing the project. All authorizations and approvals would be granted on a time-sensitive basis. Various TCS facilities now employ 15,000 people in the state, he said. Tata Elxsi, a group firm, will also establish a digital development centre on the new TCS site.
TCS's Executive Director and Chief Operating Officer, NG Subramaniam, expressed gratitude to the Chief Minister for his generous commitment of all-round support. The first phase will begin shortly and is expected to be completed ahead of schedule.
Establishes a business incubator
Vishwas Mehta, Chief Secretary, and Mohammed Saffirulla, Kerala's IT Secretary, were also present for the signing of the MoU. Sasi Pilacheri Meethal, CEO of Technopark, and Dinesh P Thampi, Vice President and Head of TCS's Kerala Operations, signed the deal.
The establishment of the proposed start-up incubator within the new TCS campus, the Chief Minister stated, will assist improve Kerala's start-up ecosystem. India has recognised Kerala as a state with innovative start-up practises, he added.