TCS signs MoU to invest ₹1200-1500 crore, the project to generate 20,000 direct jobs
India’s largest IT firm Tata Consultancy Services has signed a Memorandum of Understanding for leasing 97 acres of land at the Technocity campus at Pallipuram, Kerala to set up a digital hub for engineering, product development, and IT services in manufacturing, defence and aerospace sectors with a focus on new generation technologies.
According to The Hindu report, This agreement is expected to bring in an investment of ₹1200-₹1500 crore to the State and generate 20,000 direct jobs. The MoU was signed between TCS and Technopark in the presence of Chief Minister Pinarayi Vijayan who termed the agreement as a major stride in the State’s quest to become a knowledge economy.
“The setting up of the proposed Startup Incubator within the TCS campus will help to strengthen the startup ecosystem in Kerala. India has acknowledged Kerala as a State having best practices in the startup sector,” the Chief Minister added.
The TCS hub would focus on new technologies like Artificial Intelligence, Machine Learning, Robotics, Internet of Things, Data Analytics and BlockChain.
Chief Secretary Vishwas Mehta and IT Secretary Mohammed Y. Safirulla were among those present. The agreement was exchanged between Sasi Pilacheri Meethal, CEO, Technopark and Dinesh P. Thampi, Vice President and Head, Kerala Operations, TCS.
Group company Tata Elxsi will also set up their Digital Development Centre within the TCS campus at Technocity.
