Revanth to lay stone for new facility of Cognizant today

Hyderabad: The first two-week long official tour of USA and South Korea to attract investments into Telangana by a high-level delegation led by Chief Minister A Revanth Reddy seems to have drawn good response as Cognizant CEO Ravi Kumar and his team invited the Chief Minister to lay foundation stone for the proposed new facility in Hyderabad on Wednesday.

Revanth, who returned to Hyderabad on Tuesday night, would be laying the foundation stone for the new facility that would come up on a 10-lakh square feet space providing 15,000 jobs in the IT sector.

It may be mentioned here that during the US tour, the CM had held a meeting with Ravi Kumar and entered into a MoU for expansion plans in Hyderabad. The new campus will focus on various advanced technologies, including artificial intelligence, machine learning, digital engineering, and cloud solutions.

Cognizant had started its operations in Hyderabad from 2002. So far, the company has established five campuses in different parts of the IT corridor. The new campus will also provide IT and ITES services apart from offering jobs to the IT professionals.

Currently, 57,000 employees are working for Cognizant in Hyderabad and the company is considered as the second largest employer in the IT sector in the state.

Official sources said that the company management decided to speed up the implementation of the agreement entered with the state government and take up the business expansion in Telangana instantly. Hence, the company finalised the schedule to lay the foundation stone for the new facility on the same day the CM returned to Hyderabad from his US tour.

During his two-week long tour, Revanth Reddy attended over 50 business meetings and three round tables and several field visits. The CM concluded 19 investment deals/ MoUs, totaling an investment of 31,500 crore and 30,750 new jobs for the State.

The major announcements in the IT sector include the Charles Schwab GCC, one of America’s leading financial sector corporations. Another major takeaway of the visit was the decision by Amazon to make significant expansions in their data centre presence in Hyderabad and use the city as a hub in a big way to drive their India presence. The delegation led by CM Revanth Reddy also engaged with Apple, Google and Stanford University.