Visakhapatnam Lands Rs 25,000 Cr Investment Pledge as DRI Nabs Gold Smugglers and Navaratri Rush Begins
Andhra Pradesh used Visakhapatnam as the launchpad for a sweeping regional investment campaign, drawing nearly Rs 25,000 crore in commitments from industrial and energy players at IIM-V. The same week, the city made headlines on the law-enforcement front as the DRI intercepted a Kolkata-to-Hyderabad car loaded with foreign-origin gold, while Navaratri brought a surge of festive travel to the city's transport hubs.
🏢 Rs 25,000 Crore Pours In at IIM-V Regional Conference
Andhra Pradesh launched its first regional investment conference at the Indian Institute of Management, Visakhapatnam, drawing commitments of nearly Rs 25,000 crore across 31 agreements covering industrial, energy, manufacturing, and emerging sectors. The conference is part of an ambitious pre-summit campaign ahead of the 31st CII Partnership Summit scheduled for November 12-13 in Visakhapatnam. The expected investments are projected to generate close to 57,000 jobs across the state. Among the leading investors, Himadri Speciality Chemical committed Rs 5,000 crore, Oriana Power pledged Rs 4,500 crore, Granules India announced Rs 4,000 crore, and ReNew Photovoltaics added Rs 1,500 crore to the pipeline. During the conference, 33 projects worth Rs 3,519 crore were also formally grounded or inaugurated, expected to create 9,449 direct jobs spanning tourism, MSME, and investment promotion board sectors. The government plans four additional regional conferences in Kakinada, Amaravati, Ananthapuramu, and Tirupati across October, targeting five strategic economic zones. All of this feeds into the Swarna Andhra Vision 2047, which sets a goal of a USD 2.4 trillion economy, USD 500 billion in cumulative investments, and 5 million new jobs, underpinned by 26 specialised industrial policy frameworks. [5]
🎓 Rs 200 Crore to Modernise Four Visakhapatnam ITIs Under PM-SETU
The Centre, the Andhra Pradesh government, and ArcelorMittal Nippon Steel India (AM/NS India) have signed shareholders agreements to overhaul four government Industrial Training Institutes in Visakhapatnam under the PM-SETU scheme, with approved funding of Rs 200 crore. A parallel cluster of five ITIs in Surat, Gujarat, will receive Rs 240 crore under the same agreements, bringing the combined outlay for the two projects to Rs 440 crore. These are among 14 Strategic Investment Plans approved under PM-SETU nationwide as of early October, covering ITI clusters across eight states and one union territory at a combined proposed investment of Rs 3,446 crore. Under the arrangement, separate special purpose vehicles will be created for each cluster: AM/NS India takes a 51 per cent stake in each SPV, while the Centre and the respective state government each hold 24.5 per cent. PM-SETU is a central scheme with a Rs 60,000 crore outlay aimed at upgrading 1,000 government ITIs through industry partnerships and fortifying five National Skill Training Institutes, anchoring technical education to live industry needs and significantly improving vocational training infrastructure across the country. [6]
DRI Seizes 5.83 kg of Smuggled Gold on Visakhapatnam Highway
The Directorate of Revenue Intelligence made a significant catch on the national highway near Visakhapatnam when it intercepted a car travelling from Kolkata to Hyderabad and recovered 5.83 kilograms of foreign-origin gold valued at Rs 8.98 crore. Two individuals were arrested in connection with the seizure. The DRI had been tracking the vehicle as part of an intelligence-led operation targeting smuggling networks active on the east-coast corridor. The haul underscores the city's strategic location on a major arterial route, which intelligence agencies say is frequently exploited by smugglers moving contraband between Bengal and Telangana. The seizure is among the larger single recoveries in the region in recent memory, and the arrested individuals are being questioned to unravel the broader supply network responsible for routing the gold into the country and directing its movement inland. [2]
🎉 Navaratri Festivities Drive Festive Travel Surge Across Visakhapatnam
The onset of Navaratri brought a noticeable surge of travel activity across Visakhapatnam, with the Dwaraka RTC Complex, Maddilapalem bus station, and the city's railway stations all reporting high crowd volumes. National highways also faced traffic congestion as families set out on holiday journeys to their hometowns and pilgrimage destinations. Several localities across the city set up Kali Matha idols, with devotees gathering in large numbers to offer prayers to Goddess Durga as the nine-day festival commenced. Transport authorities noted the demand spike was broadly in line with expectations given the importance of Navaratri as a major festival in Andhra Pradesh, with people preferring road and rail travel to reconnect with family. The festive energy was visible in the city's public spaces, and local vendors and flower sellers also reported brisk business as residents prepared for the daily puja rituals that mark the festival. [4]
Sources: [5] TradingView · [6] Business Standard · [2] ANI News · [4] The New Indian Express