Kerala govt approves investment of Rs 1,500 cr in Technocity

Thiruvananthapuram, Feb 3 (UNI) The Kerala Cabinet on Wednesday approved the signing of a Memorandum of Understanding (MoU) between Technopark and Tata Consultancy Services to set up a new centre of TCS in Technocity at Pallipuram, on the outskirts of Thiruvananthapuram, at an investment of Rs 1,200-1,500 crores.
The MoU will be signed for the lease of 97 acres of land from the government for this project that would house the new generation of industries of TCS. The company plans to launch industries based on innovative technologies in the IT sector such as the Internet of Things, blockchain, robotics, data analytics, machine learning and artificial intelligence.
The goal is to focus on the latest technologies in the areas of defence, aerospace and construction. The centre is expected to generate 20,000 direct job opportunities and indirectly employ three to five times that number. TCS also plans to set up an incubator centre here for technology startups.
TCS group company, Tata Elxsi’s hardware business will also be established at this centre. Seven acres of land will be allotted for this purpose. A committee chaired by the Chief Secretary was appointed to examine the recommendations of the TCS and the MoU with TCS is being signed in view of the recommendations of this committee.
Earlier, 97 acres of land was leased to TCS for setting up a training centre for employees at Technocity but the project did not materialize. It is in this context that the same site is being set aside for the implementation of the new project.
TCS is the largest IT employer in Kerala with about 15,000 employees in various projects. This is the major trade investment coming to the State in the post-Covid period. The project will help increase the revenue of the state apart from creating more job opportunities.