Visakhapatnam is on the brink of a major transformation, emerging as a key Global Capability Center (GCC) hub for Andhra Pradesh. This vision was articulated by Mr. K. S. Viswanathan, IAS, Commissioner of the Visakhapatnam Metropolitan Region Development Authority (VMRDA), during the CII Visakhapatnam Annual Meeting & Swarnandhra Vision 2029. His address underscored the government’s commitment to making Visakhapatnam a premier destination for GCCs, fostering economic growth, innovation, and high-value employment
Visakhapatnam: The Next GCC Hub
With its strategic location, skilled workforce, and improving infrastructure, Vizag is set to attract global corporations seeking to establish their capability centers. Mr. Viswanathan emphasized the importance of building an investor-friendly environment by revisiting the City Master Plans to streamline processes and enhance the ease of doing business.
This move is not just about attracting businesses but about creating a knowledge-driven economy, especially in sectors like IT, pharmaceuticals, and artificial intelligence (AI). The city’s potential to foster cutting-edge research and development makes it a prime candidate for companies looking to expand their global operations
This move is not just about attracting businesses but about creating a knowledge-driven economy, especially in sectors like IT, pharmaceuticals, and artificial intelligence (AI). The city’s potential to foster cutting-edge research and development makes it a prime candidate for companies looking to expand their global operations
Unprecedented Investment in Urban Development
To support this ambitious vision, the VMRDA has announced a massive investment plan of ₹200-220 crores for urban development. This tenfold increase in investment compared to the last five years highlights the government’s dedication to transforming Visakhapatnam into a world-class city
These funds will go toward:
- Infrastructure enhancement – improving roads, utilities, and business districts
- Connectivity improvements – better transportation and logistics support
- Quality of life upgrades – making the city more attractive for both businesses and talent
This commitment ensures that Visakhapatnam will not only accommodate the influx of global companies but also provide an environment where they can thrive and innovate
Leveraging Pharma and AI for Growth
Visakhapatnam’s rise as a GCC hub is further supported by its booming pharmaceutical industry. The city’s proximity to the Pharma Belt presents a unique opportunity to establish a Drug Discovery Complex utilizing artificial intelligence to drive innovation in pharmaceutical research and development. The integration of AI in drug discovery is expected to revolutionize the sector, attracting leading biotech firms and AI-driven enterprises. This initiative reinforces the city’s potential as a center for cutting-edge technology and scientific breakthroughs
Conclusion
With a clear roadmap, significant investment, and a thriving business ecosystem, Visakhapatnam is well on its way to becoming a key driver of Andhra Pradesh’s economic growth. The steps being taken today will shape a future where the city stands as a global hub for innovation, technology, and business excellence.
As it continues this transformative journey, Visakhapatnam is not just building a stronger economy—it is setting a benchmark for other Indian cities aspiring to become global centers of opportunity and growth
As it continues this transformative journey, Visakhapatnam is not just building a stronger economy—it is setting a benchmark for other Indian cities aspiring to become global centers of opportunity and growth
