India Inc India Inc: Thursday, 12 October 2017 10:43

Conduent to invest in Fintech Valley

American technology major Conduent will be investing up to Rs 300 crore ($46 million) to put up a development centre at Fintech Valley over the next three years.

Andhra Pradesh IT minister Nara Lokesh confirmed to the media that an agreement had been signed under which Conduent will be putting up a development centre in Vishakhapatnam to create 5,000 jobs in the state.

Allaying common concerns surrounding India, where experts say the country is looked at as a destination for cheaper labour, he responded that 2,000 of the jobs will be in the emerging fintech space.

He added that there are a few areas where the state needs to improve, especially on the social ecosystem front. This includes places for serving alcohol, improving the nightlife, providing sufficient avenues of entertainment, as well as having infrastructure like convention centres.

A senior state government official said, at present, nine companies are already working out of the valley and 16 more are slated to come in the next 45 days.

India Investment Journal’ has in-depth coverage on related topics.

Login to post comment
Get in Touch
This email address is being protected from spambots. You need JavaScript enabled to view it.

Array ( [format] => html [Itemid] => 148 [option] => com_k2 [view] => item [task] => 6843:conduent-to-invest-in-fintech-valley [id] => 6843:conduent-to-invest-in-fintech-valley )