Software exports from Visakhapatnam in 2007 were worth Rs. 2,450 million (US$ 45 million) and Rs. 5,020 million (US$ 91 million) in 2008, Rs. 10 billion (US$ 182 million) in 2011 – an increase of nearly 90% each year.The IT exports from Vizag for 2012 were 1200Crores and 16000ppl were working in IT industry in Vizag -http://cityofvizag.com/home/vizag-now/2740-electronics-manufacturing-cluster-soon-ponnala.html .The city is set to have New Electronic Manufacturing Hub.
National and international IT and banking firms (such as IBM, Mahindra Satyam, Kenexa, Infotech, Softsol, and Miracle Software,Wipro) have opened offices in the city. The Andhra Pradesh government provided infrastructure and land for these companies to set up their development centres in the city's outskirts. The government has established an IT special economic zone with Incubation center in the Rushikonda Hills in Visakhapatnam. The growing population and economy have resulted in rising real estate prices, with prices at some locations in the city quadrupling in a short time. Real-estate companies are building housing projects in the city's outskirts.
Visakhapatnam has a growing film industry, and is home to Ramanaidu Studios and another studios.
Many residential townships are coming up in this area. This initiative by property developers will extend the CBD of VIZAG up to 10 km from the base point.
The fishing industry is also growing, with domestic and exported tuna doubling in a decade. The city has two ports: Visakhapatnam Port (opened in 1933) and Gangavaram Port (opened in 2008, 15 kilometres (9.3 mi) from Visakhapatnam Port). Gangavaram Port began with an investment of US$2 billion; it is the deepest port in the country, with the ability to handle large international vessels. Visakhapatnam Port is also expanding and plans to open a satellite port at Bhimili, 20 kilometres (12 mi) away.
Visakhapatnam has the Andhra Pradesh Industrial Infrastructure
