Special Economic Zones (SEZs) give a wide scope for the overall development of the country, as the establishment of new companies and industries contribute a lot to the economy. Over the years the state and central governments have been focussing on developing new SEZs across the country. These zones facilitate new job opportunities for the youth and enhance infrastructural development. Special Economic Zones have become the centre of foreign investments from various Multinational Companies (MNCs). Additionally, SEZs have been playing a key role in fighting the rising unemployment rate in the country. Visakhapatnam is home to one of the seven Central Government managed Special Economic Zones In India, which is the headquarters for the 53 Special Economic Zones in Andhra Pradesh, Chhattisgarh, and Yanam. The rise of SEZs in Visakhapatnam has also played a prominent role in establishing it as a centre of industrial development in the state.
Here is the list of SEZs in and around the port city of Visakhapatnam.
#1 Visakhapatnam Special Economic Zone
Visakhapatnam Special Economic Zone (VSEZ), is the first economic zone in Andhra Pradesh, which was established in 1989. VSEZ was initially named Visakhapatnam Export Processing Zone (VEPZ). It was renamed as Visakhapatnam Special Economic Zone on January 1 2003. The VSEZ is situated at Duvvada which is 30 km away from the heart of the city. This is one of the seven Central Government Special Economic Zones in India which is spread across 360 acres.
#2 IT SEZ Rushikonda
Information Technology (IT) SEZ Rushikonda is a software tech park. It was initially established as a Startup Village spread across two hills in Rushikonda and later expanded to three hills in 2017. The IT SEZ Rushikonda is home to companies such as Mouri Tech, Cognizant, Fed Serv, and other IT companies. This SEZ offers a spectacular sea view from the hills and is very close to Rushikonda Beach and Bheemili. This is the largest IT tech park in Andhra Pradesh.
#3 Pharma City Parawada SEZ
Pharma City is a hub for several pharmaceutical companies. The Pharma City in Parawada is home to Sionc Pharmaceuticals Pvt Ltd, Granules Omnichem Pvt Ltd, Sainor Life Sciences, and other major pharma companies. Apart from this, there are many small scale chemical industries at Pharma City Parawada.
#4 Divis Laboratories
Divis Laboratories is a Pharma SEZ in Visakhapatnam. The Divis Laboratories was established in 2002, which was developed into a SEZ. The company manufactures and custom synthesizes Generic Active Pharmaceutical Ingredients (APIs), intermediates and nutraceutical ingredients. In 2011, Divis Laboratories received approval from VSEZ for establishing a new manufacturing unit of 200 crores. This is located in the Chippada Village, Bheemunipatnam Mandal.
#5 Hetero Infrastructure SEZ
Hetero Infrastructure SEZ is a leading manufacturer of Emtriva Antiretroviral Drugs, Epzicom Antiretroviral Drugs, and Stribild Antiretroviral Drugs. This SEZ is situated at Nakkapalli, which is 60 km away from the heart of the city.