Hyderabad: On Monday, Chief Minister A Revanth Reddy concluded a huge expansion agreement with global IT major Cognizant, which will include a new facility in Hyderabad of over 10 lakh sq ft capacity that will create 15,000 new jobs rapidly.
Cognizant, a global leader in IT services and consulting, announced their significant expansion plans in Hyderabad, after meeting Revanth Reddy and IT and Industries minister Sridhar Babu in New York. Foundations for this new agreement were laid out during the Davos visit of Chief Minister and his delegation earlier this year.
The new center will have a capacity to accommodate 20,000 employees.
The announcement comes on the heels of a successful meeting between Chief Minister A Revanth Reddy, IT Minister Sridhar Babu, and a high-level delegation with Cognizant CEO Ravi Kumar S. The discussions highlighted the strategic importance of Hyderabad as a growing hub for technology and innovation in India.
"We are excited to expand our presence in Hyderabad, a city that continues to demonstrate its strengths as a technology and innovation hub," said Ravi Kumar S, CEO of Cognizant.
The new center will enable Cognizant to better serve global clients and continue to deliver cutting-edge solutions in IT services and consulting.
Chief Minister A Revanth Reddy congratulated Cognizant for its expansion plans, emphasizing the government's commitment to fostering a conducive environment for IT and business services.
"The expansion of Cognizant's operations in Hyderabad is a testament of confidence in the city's growing reputation as a global destination for technology companies," said Chief Minister. "We are happy to support Cognizant in their growth journey and are looking forward to the positive impact this expansion will have on our economy," he added.
IT Minister Sridhar Babu highlighted the significance of this expansion, saying, "Hyderabad's vibrant tech ecosystem continues to attract leading global companies. Cognizant's decision to establish a new center here strengthens our position as a leading IT hub.”
"The new center in Hyderabad will focus on various advanced technologies, including artificial intelligence, machine learning, digital engineering, and cloud solutions. This expansion is expected to create numerous job opportunities, further bolstering Hyderabad's standing as a key player in the global technology landscape," he added.