8 districts to be part of ‘Visakha Economic Region’ $120 billion economy target by 2032

Andhra Pradesh Chief Minister N. Chandrababu Naidu on Friday directed officials to develop the 'Visakha Economic Region' as the growth engine of Andhra Pradesh, aiming for a $120 billion economy from this region by 2032.

He highlighted the need to transform Visakhapatnam into another Mumbai in the next seven years. The Economic Region includes eight districts—Visakhapatnam, Vizianagaram, Srikakulam, Anakapalli, Kakinada, East Godavari, ASR, and Manyam—and the Chief Minister instructed officials to develop projects that will boost economic activity across this 8-district zone.

He also ordered the identification of one lakh acres for various projects.The Visakha Region spans 36,000 square kilometers and is home to a population of 15.5 million. Its current GDP is around $49 billion.

The Chief Minister noted that the region could generate 20 to 24 lakh jobs by 2032, making it crucial to the State's future growth during a review meeting with NITI Aayog officials at the Secretariat.

Naidu discussed the development of the Visakhapatnam Economic Region and proposed development centered around 6 ports, 7 manufacturing nodes, 17 major agricultural zones, 6 service hubs, and 12 tourism hubs.

An MoU was signed between the Government of Andhra Pradesh, NITI Aayog, and the ISEG Foundation in the presence of the Chief Minister for the State Energy Transition Roadmap.

The meeting was attended by Minister Gottipati Ravikumar, NITI Aayog CEO B.V.R. Subrahmanyam, Chief Secretary Vijay Anand, representatives of the ISEG Foundation, and other senior officials.

NITI Aayog officials presented a detailed 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 prioritized 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 centers, 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.

“We will develop beach roads from Mulapeta to Visakhapatnam and Visakhapatnam to Kakinada. These will be connected to national highways. The coast is a treasure trove—we must leverage it fully. Tourism is being treated as an industry, and our new policy is very investor-friendly. With future needs in mind, we will ensure continuous skill training for youth," said the Chief Minister.

Developing Visakhapatnam as a steel hub in collaboration with the country’s top 3 steel firms; focus on petrochemicals, gas grid, port development, petrochem-medical tech, shipbuilding, defense, electronics, clean tech, and labor-intensive manufacturing also figured in the discussion.

There is a target to create 4–5 lakh jobs in the IT sector over the next 7 years; emphasising on setting up data centers, startups, and innovation hubs in the region.