Key Points :
Accenture is coming up with a new campus in Visakhapatnam with a capacity to create 12,000 jobs.
The company has sought 10 acres of land under Andhra Pradesh’s concessional land-lease policy.
India already has more than 300,000 Accenture employees and is the firm’s largest global talent hub.
Key Background :
Accenture’s expansion plan is set as India is consolidating its position as a technology and outsourcing hub of the world. The firm, employing over 300,000 professionals in India, draws on the resource pool of trained individuals in the country to power its global consulting, technology, and operations services.
The Andhra Pradesh government has rolled out recently a land-lease policy to make metropolitan cities outside the established tech poles such as Bengaluru, Hyderabad, and Pune appealing to mass employers. The large IT companies will be able to lease land for as low as ₹0.99 an acre if they make mass employment commitments. Already, TCS and Cognizant have made investment commitment to the scheme, which will set up large campuses in Visakhapatnam that combined will create nearly 20,000 new employment opportunities.
For Accenture, taking the campus-in-Visakhapatnam approach is its strategy to diversify operations and establish a stronger footprint in India. The city has some positives: a rising pool of quality IT talent, lower real estate and operational costs than in metros, and good connectivity with other Indian and international markets through its port and improved transport connectivity.
State government officials have graded the bid as being a major opportunity to cause employment generation and further enhance the techno-hub position of Visakhapatnam. Even though the official approval is awaiting, the company’s application is of a similar nature to other projects that had been cleared earlier, and hence the chances are extremely bright.
The growth also tracks wider global trends. Growing uncertainties in overseas markets, such as tightened visa policies in developed nations and changing tax environments, are spurring technology companies to think about growing businesses in India. For Accenture, building its Indian foundation not only creates cost competitiveness but also brings resilience against geopolitical threats.
Once approved, the new campus will be a major driver of Andhra Pradesh’s economic development plan and further establish Visakhapatnam as a leading priority destination for high-value technology investment.
About the Author
Abhishek Roy
Abhishek Roy is a Managing Editor at Business Minds Media India.
