imported>Rajasekhar1961 at 07:14, 17 July 2021

2021-07-17T07:14:49Z

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{{Use dmy dates|date=December 2018}}
{{Use Indian English|date=December 2018}}
[[File:Vizag aerial view.jpg|thumb|right|Aerial view of Visakhapatnam city]]
[[Visakhapatnam]] is the largest city of [[Andhra Pradesh]]. Visakhapatnam has a [[GDP]] of $43.5 billion. It is the 9th richest city in India.<ref>{{cite web|title= Vizag 9th richest city in country|url=https://www.thehansindia.com/posts/index/Andhra-Pradesh/2017-11-23/Vizag-9th-richest-city-in-country/341023 }}</ref> Fishing industry, road–rail connectivity, many heavy industries like [[Hindustan Petroleum]], [[Visakhapatnam Steel Plant]], [[Hindustan Shipyard]], [[Visakhapatnam Port|Visakhapatnam Port Trust]], [[NTPC Limited|National Thermal Power]], [[Bharat Heavy Electricals Limited|Bharat Heavy Electricals]], [[Bhabha Atomic Research Centre|BARC]], [[Naval Science and Technological Laboratory]], [[Naval Dockyard (Visakhapatnam)|Naval Dockyard]], [[Dredging Corporation of India]], [[Strategic Petroleum Reserve (India)|Strategic Petroleum Reserve]], [[National Mineral Development Corporation|NMDC]], [[Container Corporation of India|CONCOR]], [[Andhra Pradesh Medtech Zone]] etc..

Private sector like [[Coromandel International]], [[Ferro Alloys Corporation]], [[Gangavaram Port]], etc., are the factors that made the city into an industrial hub, from a small hamlet.<ref name="img report">{{cite web|author1=Philip Amis|author2=Sashi Kumar|title=Urban economic growth, infrastructure and poverty in India: lessons from Visakhapatnam| url=http://archidev.org/IMG/pdf/Urban_economic_growth_infrastructure_and_poverty_in_India_1.pdf|publisher=Environment&Urbanization Vol 12 No 1 April 2000|accessdate=15 July 2014|ref=abba|format=PDF}}</ref> Tourism also plays an important role in generating revenue, with numerous tourist destinations in and around the city.<ref name=tourism>{{cite web|title=Vizag|url=http://www.aptdc.gov.in/vizag.html|publisher=Andhra Pradesh Tourism|accessdate=23 July 2014|archive-url=https://web.archive.org/web/20140630033556/http://www.aptdc.gov.in/vizag.html|archive-date=30 June 2014|url-status=dead}}</ref> Blessed with a [[natural harbour]] and one of the largest ports of India, sea trade was made possible with other countries which also boosts the economy.<ref name=encyclopedia>{{cite web|title=Visakhapatnam Article|url=http://www.britannica.com/EBchecked/topic/630503/Visakhapatnam|publisher=Encyclopædia Britannica|accessdate=23 July 2014}}</ref> The service sector contributes for 55 per cent of total GDP of Visakhapatnam, while 35 per cent comes from the industrial sector and 10 per cent from agricultural and allied sectors.<ref>{{Cite news|url=http://www.business-standard.com/article/economy-policy/vizag-district-eyes-100-gdp-growth-114090700696_1.html|title=Vizag district eyes 100% GDP growth|last=Raju|first=VDS Rama|date=2014-09-07|newspaper=Business Standard India|access-date=2016-11-10}}</ref>

== Fisheries ==
[[File:Fishermen at Visakhapatnam beach.jpg|thumbnail|left|Fishermen at work, Visakhapatnam]]

[[Fishing]] is a major occupation in Visakhapatnam, as many fishermen depend on fishing for their livelihood. The fishing harbour at [[Visakhapatnam Port]] is one of the biggest in the coastal corridor of Andhra Pradesh and also exports seafood such as [[Tuna]].<ref name="img report" /><ref>{{cite news|title=A career in Vizag|url=http://www.thehindu.com/todays-paper/tp-features/tp-opportunities/a-career-in-vizag/article4072336.ece|accessdate=22 May 2014|newspaper=The Hindu|date=7 Nov 2012}}</ref> Fish preserving by drying, processing and curing activities takes place at the harbour. The dried fish is sent to markets in [[Tamil Nadu]], [[Karnataka]], and [[Orissa, India|Orissa]], and also exported to [[Sri Lanka]], [[Singapore]], [[Burma]] and others.<ref>{{cite web|author1=Madhumita Das|author2=Prathibha Rohit|author3=G. Maheswarudu|author4=Biswajit Dash|author5=P. V. Ramana|title=An overview of dry fish landings and trade at Visakhapatnam Fishing Harbour|url=http://eprints.cmfri.org.in/8414/1/2.pdf|website=Central Marine Fisheries Research Institute|publisher=Marine Fisheries Information Service T&E Ser., No. 215, 2013|location=Regional Centre of CMFRI, Visakhapatnam|format=PDF}}</ref> Ice factories in and outside the [[Fishing Harbour Visakhapatnam]] can produce tonnes of ice, catering to the needs of the fishermen and also provides industrial employment.<ref>{{cite web|title=Ice Production|url=http://ifpkochi.nic.in/annual%20report%2012-13.pdf|publisher=National Institute of Fisheries Post Harvest Technology and Training, Kochi|accessdate=22 July 2014|format=PDF}}</ref><ref>{{cite news|title=Cold storage unit in Vizag|url=http://www.thehindu.com/news/cities/Visakhapatnam/cold-storage-unit-in-vizag-nearing-completion/article1980646.ece|accessdate=22 July 2014|work=THE HINDU|date=30 April 2011|location=Rajahmundry}}</ref>

== Ports ==
[[File:Visakhapatnam view from Vizag seaport.JPG|thumb|The City, overlooking seaport]]

Visakhapatnam Port is one of the largest cargo handling ports in [[India]]. It can accommodate 150,000 [[Deadweight tonnage|DWT]] vessels and draft up to {{convert|17|m|ft|abbr=on}}.<ref>{{cite web|title=Port structure|url=http://www.vizagcustoms.gov.in/Admin/port.pdf| publisher=vizagcustoms| accessdate=22 May 2014}}</ref><ref name=VPT>{{cite web| title=Visakhapatnam Port Trust|url=http://www.vizagport.com|publisher=vizagport|accessdate=8 May 2014}}</ref> The port during 2013–14 period, handled {{nowrap|58 million}} [[tonnes]] of cargo and also a cape size vessel in the outer harbour. Neighboring ports, current projects, decline in iron ore exports, [[Gangavaram Port]], lead to loss of cargo to Visakhapatnam Port.<ref>{{cite news|title=VPT FY:2013-14| url=http://www.thehindubusinessline.com/news/states/vizag-port-handles-58-mt-of-cargo-during-201314/article5858685.ece|accessdate=24 May 2014|newspaper=The Hindu|date=1 April 2014}}</ref>

A {{INRConvert|13000}} crores modernisation and expansion program of the port is underway, to increase the capacity to 130 million tonnes by 2016–17.<ref>{{cite news|title=Modernization and expansion of port|url=http://www.thehindu.com/todays-paper/tp-national/vizag-port-plans-to-increase-capacity-by-201617/article3928278.ece|accessdate=24 May 2014|newspaper=The Hindu|date=23 Sep 2012}}</ref> Products moved through the port include petroleum, steel, minerals, and foods.<ref>{{cite web|title=Commodity terminal at vizag seaport|url=http://www.vizagseaport.com/company.html|publisher=vizagseaport|accessdate=24 May 2014|archive-url=https://web.archive.org/web/20140222125630/http://www.vizagseaport.com/company.html|archive-date=22 February 2014|url-status=dead}}</ref>

The inauguration of the Gangavaram Port, located 15 km away from the Visakhapatnam Port, has led to a significant diversion of traffic away from Visakhapatnam. It has the capacity of accommodating ocean liners of 200,000–250,000 [[Deadweight tonnage|DWT]]. The Visakhapatnam Port Trust plans to develop a satellite port at [[Bheemunipatnam]] to reduce the traffic.<ref>{{cite news|title=Satellite port at Bhimili |url=http://www.thehindu.com/news/cities/Visakhapatnam/vpt-to-finalise-consultantfor-satellite-port-at-bhimili/article3831258.ece|accessdate=23 November 2012|newspaper=The Hindu |date=28 August 2012}}</ref>

== SEZs and industrial parks ==
[[File:Panoramic view of Vizag Industrial area from Yarada hill.jpg|thumb|Panoramic View of Naval Industrial Area]]
There are [[Special economic zone|special economic zones]] (SEZs) and industrial corridors such as [[Visakhapatnam Special Economic Zone]] (VSEZ),<ref>{{cite web|title=Visakhapatnam Special Economic Zone|url=http://www.sezindia.nic.in/sezindia-vsez.asp|work=Special economic zones in India|publisher=sezindia|accessdate=8 May 2014}}</ref> [[Andhra Pradesh Special Economic Zone|APSEZ]], [[Andhra Pradesh Industrial Infrastructure Corporation|APIIC]], Aganumpudi Industrial Park, Visakha Dairy, JNPC.<ref name="pharma sez">{{cite web|title=Jawaharlal Nehru Pharmacity|url=http://www.ramky.com/jnpc/aboutus.html|publisher=ramky|accessdate=24 May 2014}}</ref>

== Pharmaceuticals ==

[[Jawaharlal Nehru Pharma City]] (Ramky Pharma City (India) Limited) is a [[Public Private Partnership]] between [[Government of Andhra Pradesh]] and Ramky Group. It is a [[special purpose entity]], setup for the manufacturing of bulk drugs and pharmaceuticals. It is the first industrial township in India, spread over an extent of {{convert|2400|acres|ha}} with 102 companies and 8698 employees, presently in operational.<ref>{{cite web|title=Ramky pharma city|url=http://www.igep.in/live/hrdpmp/hrdpmaster/igep/content/e48745/e49028/e56649/e57534/04_PresentationNewdelhi.pdf|publisher=IGEP Foundation|accessdate=24 May 2014}}</ref> PharmaZell of Germany and Eisai Pharma of Japan, French collaboration with SNF Ltd, joint US venture Aptuit Laurus Labs and US multinational company Hospira Healthcare Private Limited (a Pfizer Company) are major companies in the pharma city.<ref>{{cite web| title=Eisai Pharmatechnology and Manufacturing| url=http://www.eisai.co.in/index.php/eisai_career/Career_Opportunities/| publisher=eisai| accessdate=24 May 2014| archive-url=https://web.archive.org/web/20140525232527/http://www.eisai.co.in/index.php/eisai_career/Career_Opportunities/| archive-date=25 May 2014| url-status=dead}}</ref><ref>{{cite web|title=SNF (India)|url=http://www.snf-india.com/contactus.html|publisher=snf-india|accessdate=24 May 2014}}</ref>

== Heavy industries ==
[[File:Cargo ship at Vizag Shipyard.JPG|thumb|A cargo ship at Vizag Shipyard]]

'''Hindustan shipyard'''
[[File:Stamp of India - 1965 - Colnect 371666 - 1 - National Maritime Day.jpeg|thumb|left|Jalausha on Stamp of India released on National Maritime Day.]]
The defense administered Hindustan Shipyard Limited, built the first ship of [[India]] in 1948, which was named as ''Jala Usha'' and also built 167 various size of ships.<ref name=hsl>{{cite web|title=Ship Building Division|url=http://www.hsl.gov.in/content/27_1_ShipBuildingDivision.aspx|publisher=Hindustan Shipyard Limited|accessdate=6 August 2014|archive-url=https://web.archive.org/web/20140706224251/http://www.hsl.gov.in/content/27_1_ShipBuildingDivision.aspx|archive-date=6 July 2014|url-status=dead}}</ref> The ports and shipyard in the city led to the establishment of several large scale industries such as, [[GAIL]], [[Hindustan Petroleum|HPCL]], [[Bharat Heavy Electricals Limited|BHEL]], [[Hindustan Zinc]], [[Dredging Corporation of India]] , [[Coromandel International|Coromandel Fertilizers]], Reliance and Brandix etc,<ref name=cmnflr>{{cite web|title=City Overview VISAKHAPATNAM|url=http://www.commonfloor.com/guide/wp-content/uploads/2014/07/Visakhapatnam-Overview-revised.pdf|publisher=commonfloor|accessdate=6 August 2014}}</ref><ref name="Vizag city features">{{cite news|title=City overview|url=http://www.thehindu.com/todays-paper/tp-features/tp-opportunities/a-career-in-vizag/article4072336.ece|accessdate=24 May 2014|newspaper=The Hindu|date=7 Nov 2012|author=Hema Gopalakrishnan}}</ref> and industries headquartered in Visakhapatnam are [[Rashtriya Ispat Nigam|RINL]], [[Dredging Corporation of India]], etc.

'''Steel plant'''

Visakhapatnam Steel Plant, whose corporate entity [[Rashtriya Ispat Nigam|RINL]] is the second largest state-run steel industry. The capacity of the plant has been upgraded to 6.3MT, and it covers an area of {{convert|20000|acres|km2}}. It is planned to become a 20MT plant in the future, the largest plant in a single location. The plant had revenues of {{INRConvert|144570|m|0|nolink=yes}} for 2011–2012 and has about 17,800 employees.<ref>{{cite web|title=vizag steel corporate profile|url=https://www.vizagsteel.com/index.asp|publisher=vizagsteel|accessdate=24 May 2014}}</ref>

== Software industry ==
[[File:Satyam campus in Visakhapatnam.jpg|thumbnail|Tech Mahindra Development Centre|alt=Front of large round building, with street and trees in front]]

The [[ITES]] and [[IT sector]] is growing at its pace in the city of Visakhapatnam, the generated revenue from these sectors are a boon to the economy.<ref>{{cite news|author1=B.V. PRASAD|title=Bright prospects for IT in Vizag|url=http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/bright-prospects-for-it-in-vizag/article5206283.ece|accessdate=24 July 2014|work=The Hindu|date=6 October 2013}}</ref> The [[Information technology|IT]] special economic zone and incubation center exists at Rushikonda Hills, of the city. There are many national and multi–national IT/ITes and banking firms such as [[Mahindra Satyam]], [[Pulsus Group]],<ref>{{cite news|title=Pulsus campaign in association with STPI against plastic use|url=https://www.thehansindia.com/andhra-pradesh/pulsus-campaign-in-association-with-stpi-against-plastic-use-569720|accessdate=20 January 2020|work=[[The Hans India]]|date=4 October 2019}}</ref><ref>{{cite news|title=ITIR in Vizag expected to be in place soon: AP Governor|url=https://www.thehindu.com/news/cities/Visakhapatnam/pulsus-to-invest-100-cr-in-vizag-facility/article23247799.ece|accessdate=20 January 2020|work=[[The Hindu]]|date=15 March 2020}}</ref> [[Wipro]], [[Kenexa]], [[Infotech]], [[IBM]], [[Sutherland]], and [[HSBC]] etc. Software exports from Visakhapatnam have increased by nearly 90% each year.<ref>{{cite book|author1=Students' Academy|title=Visakhapatnam-The City of Destiny-India|publisher=Lulu.com|isbn=978-1-257-06510-3|pages=43–45|url=https://books.google.com/?id=WfQGAgAAQBAJ&pg=PA44&lpg=PA44&dq=Software+exports+from+Visakhapatnam+have+increased+by+nearly+90%25+each+year.#v=onepage&q=Software%20exports%20from%20Visakhapatnam%20have%20increased%20by%20nearly%2090%25%20each%20year.&f=false|accessdate=24 July 2014}}</ref>

The IT exports from the city for 2012 were {{INR}}1,200 crore and 16,000 people were employed.
According to data released by the state IT department for the financial year 2012–13, IT industry registered an impressive in IT/ITeS revenues, that generated {{INRConvert|1445|c}}, an increase of 20%, compared to the previous financial year. The same year saw an increase in employment, generated by the IT/ITeS industry, with 16,988 jobs as compared to 16,000 in 2011–12 period.<ref>{{cite web |title=IT Revenues |url=http://timesofindia.indiatimes.com/city/visakhapatnam/Visakhapatnam-IT/ITeS-sector-surges-20-in-2013/articleshow/22592960.cms | publisher=The Hindu|accessdate=2014-05-08}}</ref> The Information Technology Investment Region (ITIR) project, planned by the [[Government of Andhra Pradesh]], may generate employment to approximately, up to {{nowrap|15 lakh}} [[Information technology|IT]] professionals and also the it can generate revenue for the economy, of up to {{INRConvert|3.11|c}}.<ref>{{cite news|title=ITIR in Vizag expected to be in place soon: AP Governor|url=http://articles.economictimes.indiatimes.com/2014-01-26/news/46636507_1_information-technology-investment-region-ap-governor-manufacturing-zones|accessdate=24 July 2014|work=The Economic Times|date=26 Jan 2014|location=Hyderabad}}</ref>

== Minerals and resources ==
Visakhapatnam and its surrounding areas are having mineral deposits of [[quartzite]], [[bauxite]], [[graphite]], [[manganese]], [[titanium]], [[silica sand]] and 1,000 [[Metric tonnes|MT]] of [[bauxite]] reserves. The [[Iron ore]] and other minerals, from the neighbouring states are transported through rail and road to Visakhapatnam. These minerals are exported through sea to other countries.<ref>{{cite web |title=Mineral Deposits |url=http://mines.nic.in/writereaddata%5CContentlinks%5C901ea44b95ca4a218f2c7be81a10011b.pdf |archive-url=https://web.archive.org/web/20140514004846/http://mines.nic.in/writereaddata%5CContentlinks%5C901ea44b95ca4a218f2c7be81a10011b.pdf |url-status=dead |archive-date=2014-05-14 |publisher=mines.nic.in |accessdate=2014-07-23 }}</ref> [[Ilmenite]] is used for extraction of titanium and [[Monazite]] for extraction of [[thorium]] are found at [[Bheemunipatnam]].<ref>{{cite web |title=Mining extraction |url=http://apmines.org/?page_id=933 |accessdate=2014-05-08 |archive-url=https://web.archive.org/web/20140508223804/http://apmines.org/?page_id=933 |archive-date=8 May 2014 |url-status=dead }}</ref> [[Ferroalloy]] plants, [[Aluminium]] refineries (such as Anrak Aluminium and Jindal Aluminium) are developing, due to the close proximity of manganese and bauxite.<ref>{{cite news |title=Refineries of Aluminium |url=http://www.business-standard.com/article/companies/despite-uncertainty-in-bauxite-mining-aluminum-project-comes-up-in-vizag-113051501036_1.html |accessdate=2014-05-08|newspaper=Business Standard India |date=2013-05-16 |last1=Reporter |first1=B. S. }}</ref>

[[File:vizagindustries.jpg|thumbnail|HPCL Petrochemical Complex|alt=Hazy photo of chemical factory]]

'''Petro corridor'''

Visakhapatnam holds [[crude oil]] reserves with Hindustan Petroleum Corporation [[Oil refinery|Refinery]], [[Indian Oil Corporation|IOC]] and [[Bharat Petroleum|BPCL]] have their bottling units in the city.<ref>{{cite web |title=Crude Oil Reserves |url=http://futureofpower.org/wp-content/uploads/2014/04/Visakhapatnam-.Summary-Report.pdf |accessdate=2014-05-08}}</ref> Visakhapatnam is a part of the ''Visakhapatnam–Kakinada Petroleum, Chemical and Petrochemical Investment Region (VK PCPIR)'', proposed between Visakhapatnam and [[Kakinada]].<ref>{{cite web |title=PCPIR Zone| url=http://www.vuda.gov.in/CRZ_pdfs/Scope%20of%20CRZ%20STUDY.pdf | publisher=Vuda.gov.in|accessdate=2014-05-08}}</ref>

'''Power plants'''

[[Simhadri Super Thermal Power Station|Simhadri Super Thermal Power Plant]] is a coal-based power plant under the ownership of [[NTPC Limited]]. It has a capacity of 2000 [[Megawatt|MW]] with 4 units of 500 [[Megawatt|MW]] each.<ref>{{cite web|first=|title=Simhadri super power plant|url=http://www.ntpc.co.in/index.php?option=com_content&view=article&id=307&Itemid=175&lang=en|publisher=NTPC}}</ref> Hindujas has begun construction of a 1,040 [[Megawatt|MW]] coal-based thermal power plant in Visakhapatnam district with two 520 [[Megawatt|MW]] units.<ref>{{cite web|title=Hinduja National Power Corporation Limited (HNPCL)|url=http://www.hindujanationalpower.com/|publisher=Hinduja Group|accessdate=23 July 2014}}</ref>

== See also ==
* [[Economy of Andhra Pradesh]]

== References ==
{{reflist}}

{{Commons category}}

[[Category:Economy of Visakhapatnam| ]]

Economy of Visakhapatnam - Revision history

imported>Rajasekhar1961 at 07:14, 17 July 2021