Vizag is now the toast of new Andhra Pradesh. Everyone has their one eye on the quiet corner near the sea coast that is deigning to become the next global hub of investments. From the Fintech Valley to the CII Summits, Visakhapatnam has become a high traffic zone, accommodating the surging changes. There is also a new tangent added to the city lately, with the IT Minister declaring his plans to make Vizag as AP’s IT and Digital payments capital.
While there is a lofty amount of doubt and speculation that is prevailing about all the attention on the city, Vizag has always been an ideal choice for such a gamut of metamorphosis. The digital card being played by the state government is apt for the city of destiny. The fact of the matter is, Vizag has always been the obvious choice, right after the likes of Hyderabad and Bengaluru.
Having invested three years of efforts and initiative into channeling Vizag to become the next big IT destination, the sails look clear with the on boarding of investments. While 60% of the IT sector has been planned to be diverted towards Vizag, the remaining 40% has been split in an equal measure between Amaravati and Tirupati. If one has to be go by the choices, this is a perfect balance of the developed and the developing zones in the state.
Fintech valley is undoubtedly the core focus of the governance, and strategy is being readied to propel the growth accelerators to give a massive push to the startup ecosystem. The goal is now to generate as many as 2,000 jobs within the city, and the state is already underway, attracting global investments.
Vizag is a perfect spot to empower the much needed startup ecosystem. What the government could not keep up with the Sunrise Hub, is now being offset with Fintech. The fact that young teams are now being hired within the departments to work on the projects is a promising welcome sign.
If we go back and visit the then Vizag of 2002, the city was always an instant choice for IT and BPO establishments. Companies like HSBC were the first to make an entry, creating a new rush of employment, avenues and refreshing cross cultural impact on the city. It goes without saying that Visakhapatnam has been more than competent to imbibe a massive transmutation regardless of times and circumstances.
It remains to be seen if the new Fintech mission will add in to the new remodeling of the emerging metropolis.