Economy of Vijayawada

Overview of Vijayawada city

Vijayawada is the second largest city in the state of Andhra Pradesh of India. It is one of the Tier-II cities and categorized under B-1 grade cities of India .[1][2] Factors contributing to its economic growth include agricultural exports, tourism, resources, industries and transportation etc., with the economy depends largely on trade and commerce, providing entrepreneurial growth. About 70% of the working people are involved in tertiary activities. The GDP of Vijayawada in 2010 was $3 billion (Rs. 18,000 crore) and is expected to grow upto $17 billion (Rs. 1,02,000 crore) by 2025.[3]

Agriculture

Farms and plantations in the area are irrigated using water from the Krishna River and Prakasham Barrage. The city is one of the largest exporters of mango in the state of Andhra Pradesh and earns revenue from the mango plantations. Other important crops include rice and sugarcane.[4]

Industrial sector

Industrial sector is based mainly on agro products processing, textile, automobile body building, hardware, consumer goods, fertilizers, and small industries. The two well equipped industrial estates in Vijayawada are Auto-Nagar and other near Kondapalli.[4]

Agro-based and textile industries

Vijayawada is the hub of agricultural markets of Krishna district. The trade and exports agro commodities such as, Tobacco, cotton, turmeric and mangoes etc., and solvent extract plants, oil, dal and rice mills are located around the city.[3] There are textile markets at Old Town, Kaleswara Rao market area, Governorpet and Besant Road for textile trade.[4]

Automobile and heavy industries

Auto Nagar industrial estate, also known as Jawahar Lal Nehru Auto Nagar Estate, is an industrial park dedicated to the automobile industry. It is one of the largest of its kind in Asia.[4]

The industrial estate in Kondapalli has an 450 acres (1.8 km2) industrial park with more than 800 industries.[5]

Industrial parks

There are some of the industrial parks present and proposed in and around the city. Apparel Park, is an industrial development project, spread over an area 1,000 acres (400 ha), is located at 25 km from the city. L&T Hitech City Limited, a proposed IT/ITES SEZ project, spread over an area of 30 km2 (12 sq mi), is located near Gannavaram airport. IT park, proposed in an area of 40 km2 (15 sq mi), is located in Mangalagiri town, near Vijayawada.[3]

Transportation

Vijayawada Railway Station

The city is well connected to the rest of the country by National Highways, Railways, boosting trade. Vijayawada railway station with A-1 status, is one of the important railway junctions in India contributing the highest revenues in the South Central Railway.[6] It also has a domestic airport at Gannavaram, which is the headquarters for regional airliner Air Costa.[7]

Resources

Power plants

Kondapalli Estate houses thermal plant namely Vijayawada Thermal Power Station is one of the coal based power plants of the APGENCO. It has a capacity of 1760 MW with 6 units of 210 MW and 1 unit of 500 MW currently under operation.[8] Another power plant in the estate is Lanco Kondapalli Power Ltd., a gas based plant with a capacity of 732 MW serve the power needs of the city and state.[9] Bharat Heavy Electricals Limited (BHEL) in agreement with APGENCO will to take up technology demonstration project plant of 182 MW capacity.[10]

Tourism

Kanaka Durga Temple, Vijayawada

The important tourism city of Vijayawada after Visakhapatnam in the state has certain landmarks and visitor attractions in and around the city such as Prakasam barrage, parks, museums, caves, river island and religious sites etc., geneartes revenue for the APTDC.

Real estate

The growing population and economy have resulted in rising real estate prices.[11] Real-estate companies are building housing projects in the city outskirts with many residential townships.

References

  1. ↑ "Indian cities grading" (PDF). India Brand Equity Foundation. p. 43. Retrieved 4 June 2014.
  2. ↑ "Tier I and Tier II Cities of India". mapsofindia. Retrieved 4 June 2014.
  3. 1 2 3 "Economy of the City" (PDF). City Development Initiative For Asia. Archived from the original (PDF) on 17 July 2014. Retrieved 31 July 2014.
  4. 1 2 3 4 "Economic sectors of Vijayawada". vijayawadaonline. Retrieved 4 June 2014.
  5. ↑ "Kondapalli Industrial Estate" (PDF). vijayawadaworld. Retrieved 4 June 2014.
  6. ↑ "Andhra Pradesh / Vijayawada News: Plans to develop railway station". The Hindu. 24 March 2008. Retrieved 30 January 2012.
  7. ↑ "LEPL to invest Rs 600 cr in Air Costa". Business Standard. Retrieved 16 October 2013.
  8. ↑ "Dr Narla Tata Rao Thermal Power Plant". Andhra Pradesh Power Generation Corporation Ltd. Retrieved 2014-06-06.
  9. ↑ "Lanco power plant". lancogroup. Retrieved 4 June 2014.
  10. ↑ V. Sajeev Kumar. "Business Line: Companies News: BHEL Tiruchi to invest Rs 600 cr over two years". Thehindubusinessline.com. Retrieved 30 January 2012.
  11. ↑ ET Bureau 31 Aug 2012, 07.51AM IST (2012-08-31). "Despite slowdown, housing prices bullish across cities – Economic Times". Articles.economictimes.indiatimes.com. Retrieved 2013-08-08.
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