Visakhapatnam - The Government of India is planning to transform the Visakhapatnam Economic Region (VER) into a globally competitive port-proximate manufacturing hub, with shipbuilding, ship repair and maritime ancillary industries identified as key growth sectors under NITI Aayog’s Growth Hub initiative.
According to the Economic Master Plan for VER, the region has the potential to become a $125–135 billion economy by FY32, driven by strategic investments in ports, logistics, defence manufacturing, shipbuilding and industrial infrastructure.
The Visakhapatnam Economic Region benefits from Andhra Pradesh’s extensive 975-km coastline and a strong maritime ecosystem . . .
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