Welcome to Visakhapatnam

Visakhapatnam

Visakhapatnam, often referred to as "The City of Destiny" and "The Jewel of the East Coast," is a dynamic coastal city in Andhra Pradesh and a pivotal economic hub of the state. With a population surpassing 5.3 million, it ranks as the ninth most populous metropolitan area in India and contributes significantly to the national GDP, valued at approximately 43.5 billion USD. The city boasts a robust and diversified economy anchored by heavy industries, shipping, information technology, pharmaceuticals, and textiles. Visakhapatnam's strategic location features one of India's busiest cargo ports and a natural harbor that supports thriving export activities, notably seafood, which commands the highest export volumes in the country.

Business Environment

The business climate in Visakhapatnam is marked by rapid industrial growth and a welcoming ecosystem for startups and multinational corporations alike. It hosts the largest textile park in India, Brandix India Apparel City, employing over 15,000 women, and a flourishing IT and fintech sector concentrated around innovation hubs such as Sunrise Startup Village and Fintech Valley Vizag. The information technology sector has experienced remarkable expansion, with revenues growing from ₹1,450 crore in 2013–14 to ₹5,400 crore in 2016–17, supported by major firms like IBM, Wipro, Tech Mahindra, and Google, which plans a $6 billion data center campus in the city. The presence of an IT Special Economic Zone and incubation centers further fortifies Visakhapatnam’s stature as an emerging global fintech and IT investment destination.

Popular Markets

• Heavy Industries and Shipbuilding – Home to Hindustan Shipyard, a major naval fleet builder and repairer.
• Information Technology and Fintech – Hosting over 350 IT/ITeS firms including IBM, Wipro, Paytm, and emerging startups.
• Textile and Apparel Manufacturing – Brandix India Apparel City, the largest textile park in the country.
• Ports and Logistics – Visakhapatnam Port and Gangavaram Port are among the busiest in India, facilitating extensive export-import operations.
• Pharmaceuticals and Medtech – Growing sectors contributing to the city’s diversified industrial portfolio.

Growth Potential

Visakhapatnam is poised for significant economic expansion, supported by strong infrastructure, government incentives, and a skilled workforce. Its growth rate, recorded at over 9% in recent years, and rising per capita income underpin the city’s attractiveness for new investments. The ongoing development of IT parks, fintech hubs, and large-scale renewable energy projects linked to data center investments reflect a future-ready economy. With favorable geo-economic shifts and increasing global interest in industrial reshoring, Visakhapatnam is emerging as a premier destination for businesses seeking a strategic gateway to South Asia’s growing markets.