Cognizant to Establish Massive New Facility in Hyderabad, Creating 15,000 Jobs
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Cognizant to set up new facility in Hyderabad with over one million sq.ft
Cognizant, a global leader in IT services and consulting, announced its significant expansion plans in Hyderabad. The plans include a new facility in the city of over one million sq. ft capacity creating 15,000 new jobs. The new centre in Hyderabad will focus on various advanced technologies including artificial intelligence, machine learning, digital engineering, and cloud solutions. Cognizant facility to accommodate 20,000 employees The expansion is expected to create numerous job opportunities, further bolstering Hyderabad's standing as a key player in the global technology landscape. The company will build the facility with a capacity to accommodate 20,000 employees. Cognizant's decision underscores its commitment to leveraging Hyderabad's rich talent pool and robust infrastructure to support its global operations. Chief Minister A. Revanth Reddy has concluded a deal with Cognizant as part of his visit to the United States. The foundation for the agreement was laid out during the Chief Minister and the State delegation's visit to Davos earlier this year. The announcement comes on the heels of a successful meeting between the Chief Minister and IT Minister D. Sridhar Babu with Cognizant CEO S. Ravi Kumar. The discussions focussed on 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," Mr. Ravi Kumar said. The new centre would enable Cognizant to better serve global clients and continue delivering cutting-edge solutions in IT services and consulting. Mr. Revanth Reddy congratulated the IT major for its expansion plans and emphasised his government's commitment to fostering a conducive environment for IT and business services. "Expansion of Cognizant's operations in Hyderabad is a testament of the confidence in the city's growing reputation as a global destination for technology companies," the Chief Minister said. He said the State would support Cognizant in its growth journey and was looking forward to the positive impact this expansion will have on our economy. Mr. Sridhar Babu explained the significance of the expansion saying the city's vibrant tech ecosystem was continuing to attract leading global companies. "Cognizant's decision to establish a new centre strengthens our position as a leading IT hub." Read Comments
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Cognizant to set up 10 lakh sq ft facility in Hyderabad, to create 15,000 new jobs
At a time when the IT industry is facing tough times, IT major Cognizant announced a major expansion plan. The company said it will set up a 10-lakh sq ft facility in Hyderabad, creating 15,000 new jobs. The new centre can house 20,000 employees. The centre would focus on various advanced technologies, including artificial intelligence, machine learning, digital engineering, and cloud solutions. This announcement was made during the meeting between Cognizant's top team and Telangana Chief Minister A Revanth Reddy in the US on Monday. The foundation for this new agreement was laid out during the Davos visit of the Chief Minister and his delegation earlier this year. "We are excited to expand our presence in Hyderabad, a city that continues to demonstrate its strengths as a technology and innovation hub," Ravi Kumar S, CEO of Cognizant, said. The new centre will enable Cognizant to better serve global clients and continue to deliver cutting-edge solutions in IT services and consulting. The Chief Minister, along with IT and Industries Minister D Sridhar Babu and top officials, urged the Telugu Diaspora to invest in Telangana. The team will depart for South Korea on August 10 for a four-day visit and will return to Hyderabad on August 14. SHARE Copy linkEmailFacebookTwitterTelegramLinkedInWhatsAppRedditPublished on August 5, 2024
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Cognizant Technology Solutions is set to expand its presence in Hyderabad with a new 1 million sq ft facility. The project aims to create 15,000 new jobs and strengthen the city's position as a tech hub.
Cognizant's Expansion Plans in Hyderabad
Cognizant Technology Solutions, a leading global IT services company, has announced plans to establish a new facility in Hyderabad, India. The project, spanning over one million square feet, is set to significantly boost the company's presence in the region and create thousands of job opportunities
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.Facility Details and Job Creation
The new facility, covering approximately 10 lakh square feet (1 million sq ft), is expected to generate around 15,000 new jobs in the coming years. This expansion aligns with Cognizant's strategy to strengthen its foothold in Hyderabad, which is already home to several of the company's existing facilities
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.Government Support and Collaboration
The announcement came during a meeting between Cognizant's top executives and Telangana IT and Industries Minister D. Sridhar Babu. The minister expressed the state government's commitment to supporting Cognizant's growth plans in Hyderabad. This collaboration underscores the government's efforts to attract and retain major tech companies in the region
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.Cognizant's Presence in Hyderabad
Cognizant already has a significant presence in Hyderabad, with multiple facilities across the city. The company's workforce in the region currently stands at around 30,000 employees. With the addition of 15,000 new jobs, Cognizant's total employee count in Hyderabad is expected to reach approximately 45,000
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Impact on Hyderabad's Tech Ecosystem
This expansion is poised to further solidify Hyderabad's position as a major technology hub in India. The city has been attracting investments from various multinational companies in recent years, and Cognizant's new facility is expected to contribute significantly to this growth trend. The influx of high-skilled jobs is likely to have a positive impact on the local economy and talent pool
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.Future Prospects and Industry Outlook
The announcement comes at a time when the global IT industry is experiencing some challenges. However, Cognizant's investment in Hyderabad signals confidence in the long-term growth prospects of the sector. The company's expansion is expected to create opportunities not only in traditional IT services but also in emerging technologies such as artificial intelligence, cloud computing, and data analytics
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