Can Vizag Compete with Hyderabad in 10 Years?

Synopsis
Key Takeaways
- Visakhapatnam aims to develop rapidly to match Hyderabad.
- The AI Edge Data Centre represents a significant investment.
- Over 1,000 jobs will be created through new projects.
- Investment commitments of $120 billion are expected in Andhra Pradesh.
- The goal is to achieve a $1 trillion economy by 2047.
Visakhapatnam, Oct 12 (NationPress) Andhra Pradesh’s Minister for Information Technology, Electronics and Real Time Governance, Nara Lokesh, stated on Sunday that Visakhapatnam can evolve to match Hyderabad within a decade.
He emphasized that while it took Hyderabad three decades to achieve its current status, Visakhapatnam can reach similar heights in just ten years.
Lokesh addressed attendees at a ceremony where he inaugurated Sify Technologies' Rs 1,500 crore AI Edge Data Centre and Open Cable Landing Station (CLS).
The facility, boasting a capacity of 50 megawatts, is being constructed by Sify, a subsidiary of NASDAQ-listed Sify Technologies, on a 3.6-acre plot allocated by the state government.
The minister expressed optimism that the AI Edge Data Centre and CLS will position Vizag as India's next global digital gateway, enhancing subsea connectivity and AI infrastructure.
This project is projected to generate employment for over 1,000 individuals and increase AI computing capabilities at the edge level. It is also anticipated to facilitate improved data exchange between India and Southeast Asian nations like Singapore, Malaysia, and Thailand, as well as Australia.
Lokesh mentioned that the government has set an ambitious goal of transforming Visakhapatnam into a $1 trillion economy by 2047.
He highlighted that Andhra Pradesh is attracting $120 billion in investments, with nearly half of that expected to flow into Visakhapatnam.
"We are making history. Of the $120 billion investment commitments coming into Andhra Pradesh, close to 50% is directed towards the Greater Economic Region of Visakhapatnam," he stated.
Lokesh also aims to create 500,000 jobs in the IT sector in Visakhapatnam, with a broader commitment to generate 2 million jobs across the state as part of the Super Six initiative.
"The double-engine government is accelerating at bullet train speed. Today, the Honourable Prime Minister is fully backing the economic agenda of Andhra Pradesh," he remarked.
He noted that the Centre is implementing new reforms in Andhra Pradesh because it trusts that the state government can deliver swiftly.
As Visakhapatnam continues to emerge as a prime investment destination, Lokesh indicated that several new investment announcements will be made in the coastal city within the next three months.
He mentioned that India’s largest steel plant and India’s single largest FDI project are set to be established in Visakhapatnam.
The IT Minister added that efforts are underway to position Visakhapatnam as the capital of Global Capability Centres (GCCs).