Visakhapatnam: Opportunities and challenges for the city to emerge as a favourable investment destination were discussed at a session organised in the city on Friday as part of annual day of the Confederation of Indian Industry-Vizag.
District collector Dr N. Yuvaraj, who participated in the session ‘Make in India, Made in Visakhapatnam’, said the state government was focusing on providing infrastructure in the city to attract investments.
“We have created a land bank for future needs. The proposed Anandapuram-Anakapalli National Highway, which is expected to be completed shortly, will ease the city’s traffic congestion. For faster cargo movement, the Raipur-Rayagada line was being developed,” he said. He also suggested that industry ensure jobs for locals to avoid unrest, which dents the image of a city aspiring to be an industrial destination.
Eisai Pharmaceuticals India Pvt Ltd managing director Dr Sanjit Singh Lamba stressed on the need to bring in tax and labour reforms to boost investment.
Eastern Naval Command Maritime Warfare Centre director Cmde Srikant B. Kesnur, the Vizag and Rambilli coasts had the potential to become a special maritime zone. Nothing that AP in general and especially Vizag had a maritime ecosystem, said there were many opportunities in the defence and sectors.
Cmde Kensur added that Vizag can make Indian Navy as its brand. Brandix India Apparel City (P) Ltd chief operating officer Ragupathy Veeraswamy said that there was a lot of scope for India to emerge as an apparel manufacturing hub. Despite despite the resources, India's share in the global apparel exports was only 4 per cent. A small country like Bangladesh had a share of 10 per cent, Vietnam 6 per cent and China's 40 per cent.
He said that choosing Vizag to set up the apparel park way back in 2007-08 was a big challenge. Mr Veerswamy said they had converted every challenge into an opportunity and their turnover during 205-16 stood at Rs 1,500 crore, providing employment to around 17,000 persons including 14,000 women....