Visakhapatnam economic region gets Rs 28,000 crore blueprint

Visakhapatnam: The state govt, during the annual budget presentation on Saturday, announced that it is submitting development proposals worth Rs 28,000 crore for Visakhapatnam economic region (VER), as recommended by NITI Aayog in its recent report. The VER project, selected at the national level under Niti Aayog's growth hub initiative, comprises nine districts — from Srikakulam to Dr BR Ambedkar Konaseema district. The proposals are expected to receive partial funding from the Centre, while the state plans to mobilise a major share of the funds from the private sector. Taking a cue from this initiative, the govt has also decided to develop the Amaravati economic region, covering NTR, Krishna, Eluru, Guntur, West Godavari, Prakasam, Palnadu, Bapatla and Markapuram districts. On the lines of the study conducted for Visakhapatnam region by Niti Aayog, a comprehensive socio-economic assessment will be undertaken to identify the strengths, resources, and potential growth drivers of these districts.At the same time, Rayalaseema region will be transformed into a global horticulture hub. The Rayalaseema integrated development plan envisages expanding the horticulture area from 8.41 lakh hectares to 14.41 lakh hectares by 2030. It also includes assured water supply through irrigation and micro-irrigation projects, along with improved road connectivity to facilitate access to global markets. The state is preparing proposals worth Rs 30,000 crore for this project.Finance minister P Keshav said the govt has adopted a regional approach to ensure inclusive growth to implement Vision Swarna Andhra@2047 and meet regional aspirations. "We have identified three regions — Visakhapatnam, Amaravati and Tirupati — as the key growth engines of Andhra Pradesh. Working closely with NITI Aayog, we have developed an economic master plan for the Visakhapatnam economic region. We are submitting proposals worth nearly Rs 28,000 crore for VER, including a metro rail project," he said.The budget also made allocations for several proposals and institutions in and around Visakhapatnam region, including block grant for Andhra University (Rs 389 crore) and Bhogapuram airport (155 crore).The NITI Aayog report, released recently, outlines a roadmap to transform Visakhapatnam economic region into a major global economic centre by 2047, targeting a GDP of $125 to $135 billion by FY32 and $750 to $800 billion by FY47. Seven key growth drivers are expected to generate $60 to $70 billion in GVA and create 2 to 2.4 million jobs by 2032.A major focus area is the development of a port-based manufacturing hub, with clusters in steel, aluminium, shipbuilding, defence, chemicals, clean technology, and green hydrogen and ammonia. The region will also build a strong digital and innovation ecosystem through the AI and data centre hub at Anandapuram, the IT and GCC hub at Kapuluppada, and the expanded Madhurawada IT Park, all supported by a high-speed subsea cable landing station. Together, these hubs are projected to create 4 lakh jobs and add $8 to $10 billion in GVA by FY32.Balanced development is planned across nine districts — Anakapalli for industry, ASR for tourism, East Godavari and Konaseema for agriculture, Srikakulam for healthcare, and Visakhapatnam for advanced IT and innovation.BUILDING THE FUTUREAerocity project in 300 acres near the upcoming Bhogapuram international airportIntegrated international care hub in 700 to 800 acres near BhogapuramEducation, skilling, and innovation hub to come up in 150 acres near Indian Institute of Management, VisakhapatnamIT and data centre hub in 300 acres near Anandapuram, anchored on Google's AI hub coming up at TarluwadaSubsea cable landing station at VisakhapatnamIT, GCC, and data centre hub to come up in 300 acres at Kapuluppada1,000 acres earmarked for expansion of Madhurawada IT Park