Visakhapatnam, or as often referred affectionately as Vizag,
is the largest city of Andhra Pradesh. That being said, it is the biggest hub
of the economy of the entire Eastern Ghats.
Entire shipments from the Eastern Ghats, that are to be shipped via cargo
are being transported here, the biggest port of East India. Post-Independence,
development of Vizag grew exponentially.
It is because of this development only, that it is one of the cities, selected to be developed further as a smart city. It is an industrial hub, which homes heavy industries like Vizag Steel, GAIL, Hindustan Shipyard, VSP, etc.
Other sectors, which generates huge revenues are fisheries, tourism, agriculture, Software Industry, Minerals, etc.
Vizag is a very important junction for all the sea trade of
that route, as it has a natural harbor, and is India’s one of the largest port.
Hence, all the natural resources, minerals, processed materials, charcoal,
steel, sugar, coking coal, etc., that are either harvested or produced
elsewhere are being transported all the way from the factories to the ports of
Vizag to be shipped and exported further abroad via the sea route.
Other materials, that are imported from other countries viz Australia, China, Malaysia, Thailand, etc. via the sea route, enters the country through Vizag.
Other materials, that are imported from other countries viz Australia, China, Malaysia, Thailand, etc. via the sea route, enters the country through Vizag.
Vizag ports are largest in handling cargos. At times, the
traffic of the Ocean liners accumulates so much in the ports that some of them
has to wait for days for the traffic to be cleared.
This led the authorities to think about the alternatives to tackle the traffic situations. They came up with the solution to develop different ports in the nearby areas to divert the traffic from the main port. This eased up the traffic at the single port of Vizag and the areas of the new port also started to develop.
This led the authorities to think about the alternatives to tackle the traffic situations. They came up with the solution to develop different ports in the nearby areas to divert the traffic from the main port. This eased up the traffic at the single port of Vizag and the areas of the new port also started to develop.
The Gangavaram port is located around 15 kilometers away
from the Vizag port and handles significant traffic diverted from the Vizag
port.
The authorities are planning to develop another port in the satellite area to further reduce the traffic accumulation. Bheemunipatanam is selected as a favorable choice to develop the port and handle the diverted traffic from the main port.
The authorities are planning to develop another port in the satellite area to further reduce the traffic accumulation. Bheemunipatanam is selected as a favorable choice to develop the port and handle the diverted traffic from the main port.
Setting up Special Economic Zones (SEZs), boosted up the
Foreign Direct Investment and hence the economy. SEZs are actually the zones
where the laws of trade, investments and taxes are different from the rest of
the state and country. It is established well within the boundary of the
country but enjoys special tax benefits, opportunities etc. SEZs like
Visakhapatnam Special Economic Zone (VSEZ), APSEZ, Jawaharlal Nehru Pharma City
(JNPC), Visakha Dairy, are the establishment that contribute to the stronger
economy of the city as well as ultimately the country. SEZs encourages the FDI
investors, and more the investors, stronger the economy gets.
JNPC is India’s first industrial township, which was set to
manufacture bulk drugs and pharmaceuticals. It also has manufacturing plants of
some foreign companies under the FDI.
Apart from that Heavy industries includes Visakhapatnam
Steel Plant, which produces both steel and processed materials to further transport
it to manufacturing and assembling units.
Defense Services has authority over the Hindustan Shipyard, which led to the establishments like Reliance, HPCL, BHEL, etc.
Defense Services has authority over the Hindustan Shipyard, which led to the establishments like Reliance, HPCL, BHEL, etc.
Fishing Sector is one of the largest contributor to the
economy, as it is the major occupation for the local resident. Local fishermen
use small motor boats and row boats for fishing. After that, they either sell
them to the local market or to the traders who connects it to further inland
cities and cargo transportation. Fishing is major source of income for the
local fishermen.
Fishes are exported to countries like Sri Lanka, Singapore, Burma, Thailand etc. and transported via freight and truck services to inland cities like Bhubaneswar, Chennai, etc. Tuna is the major harvest, and is exported internationally.
This also led investors to invest in ice making factories. Ice is required to keep the fishes fresh for longer duration during the transportation. Ice is used for cooling both in cargos, and trucks & freights.
Fishes are exported to countries like Sri Lanka, Singapore, Burma, Thailand etc. and transported via freight and truck services to inland cities like Bhubaneswar, Chennai, etc. Tuna is the major harvest, and is exported internationally.
This also led investors to invest in ice making factories. Ice is required to keep the fishes fresh for longer duration during the transportation. Ice is used for cooling both in cargos, and trucks & freights.
Minerals and Natural resources are also filled up in Vizag.
Major minerals include, Bauxite, Quartzite, Graphite, Manganese, Titanium,
Silica, Iron ore, etc. These minerals are either transported via rail and road
to different part of the country for further processing, or is exported in the
international market via the sea route in cargos.
Several factories and refineries like Jindal Aluminum, and Anrak Aluminum are set-up in the city itself to process the bauxite ore to make Aluminum products.
Several factories and refineries like Jindal Aluminum, and Anrak Aluminum are set-up in the city itself to process the bauxite ore to make Aluminum products.
Vizag has a huge reserve of crude oil. This made it the
petrochemical investment region, and is proposed to develop one. HPCR, IOC,
BPCL, have set-up their units here for the presence of crude oil.
Software industry is in the growing phase in the city. The
availability of global exposure due the presence of FDI investors had made it a
great contender to be developed as IT hub. Several IT and ITES industries are
already reaping profit, setting up the foot here. The IT special economic zone
is an initiative by the government to make special environment for the IT
companies to do the business. Presence of Satyam Mahindra, Wipro, IBM, HSBC, is
the witness that it has a great potential and is a great market for the IT and
ITES sector.
The location is a plus point and attracts thousands of
tourists in the city. Mountains of Eastern Ghats and Bay of Bengal, the natural
ambience is very good and this is a boon to the tourism sector. Government
initiatives and schemes in this sector is also helping increase the target
audience and increase the tourists and enhance their experience.
Service sector, Industries sector, and Agriculture &
allied sector are the major sectors, that contributes to the economy and to the
GDP.
The authorities are realizing the changing times and is planning accordingly to seize the opportunity to reap the profit and strengthen the economy.
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