Vizag India’s next economic powerhouse: Lokesh

HRD, IT Electronics & Communication Minister, Nara Lokesh, has unveiled the State’s vision to catapult Visakhapatnam to the fifth largest economic city in India, up from its current 10th position. Speaking at the AP Infrastructure Summit 2024, organised by the Confederation of Indian Industry (CII), Lokesh emphasised the goal of transforming Visakhapatnam into a trillion-dollar economy and a global destination.
“We aim to make Visakhapatnam a leading economic capital and industrial centre in India,” Lokesh stated, highlighting plans to establish the city as a global hub for IT, Data Centres, and Artificial Intelligence. The city is also poised to become a world-class pharmaceutical hub, with sectors such as Defence, Aero Facilities, and a dedicated Freight Corridor. Key developments include the operationalisation of the cargo freight corridor and the upcoming Bhogapuram Airport, expected to create numerous employment opportunities and contribute substantially to the region’s GDP growth.
Discussing the comprehensive development plans for various regions across Andhra Pradesh, Lokesh stated, “Anantapur is to become a mobility hub within the next five years, with operations of KIA in full swing, while Kurnool will focus on renewable energy projects, including hydro, wind, and solar energy.
Kadappa will be developed as a hub for electronics manufacturing, Prakasam for biofuels, Krishna-Guntur as the capital region, and the Godavari region will emphasise the aqua industry and petrochemical corridor.”
Meanwhile, MP M Sribharat emphasised plans to position Bhogapuram Airport among the top 10 air traffic destinations in India. He commended APEPDCL, Andhra Pradesh’s power distribution company, for its uninterrupted power supply and highlighted the proposed 12 flyovers along the Anakapalle-Bheemili route, which will be transformed into three elongated elevated expressways to improve traffic flow and connectivity.
BC Janardhan Reddy, Minister for Roads & Buildings, Infrastructure & Investments, spoke on the potential of the Public-Private-People Partnership (PPPP) model in driving infrastructure development. He noted that Andhra Pradesh’s growing road and economic corridors present immense opportunities for port development. During the summit GBS Raju, Business Chairman-Airports at GMR Group, remarked, “Every rupee spent on infrastructure would result in a 2.5 per cent increase in GDP.”
Rajesh Gandhi, Chairman of CII Visakhapatnam, stated that infrastructure is the “oxygen for GDP growth,” advocating for the development of an additional ship-building centre in the region. Dr. V Muralikrishna, Chairman of CII Andhra Pradesh, stressed the necessity for robust power, social, and digital infrastructure to elevate Andhra Pradesh into a globally competitive player.