Vizag Economic Region Eyes Global Manufacturing Hub Status
NITI plan pushes shipbuilding to drive maritime manufacturing growth
Mumbai: The government is planning to transform the Visakhapatnam Economic Region (VER) into a global port-proximate manufacturing hub.
The Economic Master Plan for VER, developed under NITI Aayog’s Growth Hub initiative, identifies shipbuilding, ship repair and ancillary manufacturing among the region’s priority emerging sectors.
The master plan projects that VER could grow into a $125-135 billion economy by FY32, supported by investments in ports, logistics, defence manufacturing, shipbuilding and industrial infrastructure.
Visakhapatnam, along with Gangavaram, Krishnapatnam and Kakinada in Andhra Pradesh, forms one of the most significant port networks on India’s eastern coast, with a 975-km coastline. In addition to cargo movement, these ports support sectors such as steel, cement, fertilisers, seafood exports and energy logistics, while enabling industrial clusters to grow around them.
The Indian government is expected to give in-principle approval for a ₹30,000-crore mega shipbuilding cluster in Andhra Pradesh in the near future as it looks to increase the fleet size of India-flagged vessels, Union Ports, Shipping and Waterways Minister Sarbananda Sonowal has said.
“Shipbuilding and ship repair are among the emerging sectors of strategic importance in NITI Aayog’s plan to develop the Visakhapatnam Economic Region as a global economic hub,” said Saifuddin Hajee, founder and chairman of SHM Group, which operates DG Shipping-approved service stations for servicing life-saving appliances and fire-fighting appliances in Visakhapatnam.
SHM Group is a Mumbai-based company with more than 100 years of expertise as a maritime solutions provider with an international presence. It is involved in shipbuilding and ship management, operations of its own fleet, and repair, maintenance and supply of shipboard safety equipment across India and overseas.
“Andhra Pradesh’s ongoing port-led development is crucial for India’s maritime strategy to improve port capacity, connectivity and coastal economic activity. Maritime India Vision 2030 commits ₹1.3 lakh crore to transform India into a top-five shipbuilding nation, aided by its 7,500-km coastline,” Hajee said.
