Govt. sees ‘Visakha Economic Region’ as growth engine of A.P., aims at $120 billion economic output by 2032

Chief Minister N. Chandrababu Naidu aims to develop Visakha Economic Region into a $120 billion economic powerhouse by 2032.

Chief Minister N. Chandrababu Naidu has directed officials to develop the “Visakha Economic Region” as the growth engine of Andhra Pradesh and to aim for the creation of $120 billion in economic output from this region by 2032.

The Economic Region comprises eight districts — Visakhapatnam, Vizianagaram, Srikakulam, Anakapalli, Kakinada, East Godavari, ASR, and Manyam. The Chief Minister has instructed officials to develop projects that will boost economic activity across this eight-district zone. 

At a review meeting with NITI Aayog officials at the Secretariat near here on Friday, Mr. Naidu emphasised transforming Visakhapatnam into another Mumbai within the next seven years. For this, it was necessary to identify one lakh acres for various projects. Currently, the region spans 36,000 square kilometres and has a population of 15.5 million. With a current GDP of $49 billion, the region is projected to generate 2 to 2.4 million new jobs by 2032, making it crucial for the State’s progress. Around six ports, seven manufacturing nodes, 17 major agricultural zones, six service hubs, and 12 tourism hubs can be developed, he said.

 NITI Aayog officials presented a detailed PowerPoint presentation. The officials outlined plans around seven growth drivers: ports, IT, agriculture, tourism, healthcare, urban development, and infrastructure. A total of 41 key projects are to be prioritised for implementation. If these plans are realised within the next seven years, the region could see the construction of 7.5 lakh housing units, 10,000 hotel rooms, up to 20 innovation centres, 10 colleges, 7,000 hospital beds, industrial development across 20,000 hectares, 80 million sq. ft. of office space, and 60 million sq. ft. of warehousing capacity.

Mr. Naidu said that the government would develop beach roads from Mulapeta to Visakhapatnam and from Visakhapatnam to Kakinada. These will be connected to national highways. The coast is a treasure trove, and it is necessary to leverage it fully. Tourism is being treated as an industry, and the government’s new policy is very investor-friendly. With future needs in mind, the government will ensure continuous skill training for youth. “We’re adopting ‘Work from Home’ and Knowledge Economy outsourcing models. The goal is to provide work-from-home opportunities to 20 lakh people,” he said.

Energy Minister Gottipati Ravikumar, NITI Aayog CEO B.V.R. Subrahmanyam, Chief Secretary K. Vijayanand, representatives of the ISEG Foundation, and other senior officials were present.