The Vizagapatam Chamber of Commerce (herein after called as ‘VCCI’) was incorporated in 1931 with an objective to understand the problems of business community and work out with effective solutions in coordination with state and central government to foster the industrial growth and social wellbeing of the Visakhapatnam and other districts of Andhra Pradesh. At that time the registered office was at Viziya building Cathedral in old town area. There were nine committee members and the first set of office bearers were Mr. Rao Saheb C. Mr. Sanjiva Rao Naidu President, Sri Kancharla Ramabrahmam - Vice- President, Mr. V.J.Gupta- Secretary. Since then India and Visakhapatnam in particular have gone through several changes politically and economically. World War II, independence and the formation of the State of Andhra Pradesh gave a new dimensions to the Chamber of Commerce.
Until the time of economic liberalisation initiated by the former Prime Minister Sri. P.V.Narasimha Rao, the chamber of Commerce was fixated more on trade. However, after this it got involved with industrialisation with the setting up of the Steel Plant and other industries, the number of member’s grew making it imperative to cater to differing needs and expectations.
The chamber members are playing very important role in different government bodies Railway Users Committee, Visakhapatnam Port Trust, K. G. H, Food and District Industries Promotion. Further, the chamber members are heading the following committees such as 1. Customs House Agents 2. Visakhapatnam District Drug Trade Association 3. Federation of all India Petroleum Traders. 4. A.P Federation of Petroleum traders and many more.
The Chamber plays an important role in different Government Bodies such as Zonal Railway, Users Consultative Committee, Divisional Railway Users Consultative Committee, Visakhapatnam Port Trust, King George Government Hospital, and District Industries Promotion. Members also involved with bodies such as Customs House Agents Association, Visakhapatnam District Drug Trade Association, Federation of All Indian Petroleum Traders and A.P Federation of Petroleum Traders. Now the chamber had its own office located in a spacious building at Siripuram Junc and serving the Trade & Industry in Visakhapatnam.
The Vizagapatam Chamber of Commerce & industries is affiliated to:
The Vision and plans of Vizagapatam Chamber of Commerce are very clear. VCCI wish to be one of the growth engines steering the sustainable development of the city. The Priority of VCCI is to step up its activities in inviting National and International Companies to invest in Visakhapatnam both in trade and make it a vibrant chamber at domestic and global levels.
The Vizagapatam Chamber of Commerce & industries had MOU’s with:
As Vizag grows rapidly, there is need to strengthen the Physical, Social and Economic infrastructure as well as infuse new dynamism so that the city adapts to the changing face of India. To achieve this, VCCI will embrace all aspects of city growth where excellence, innovation, integrity, passion and teamwork will be the guiding principle. The Chamber will form alliances with business leaders, trade associations, sister chambers, government agencies, civic officials & foreign dignitaries to accomplish its goals of business & community service to Vizag.
VCCI will become the information gateway to the community, promote networking, seminars, international trade fairs, and workshops that enhance the knowledge of its members.
To be Vizag’s Principal business organization and promote the building of a vibrant and prosperous city to do business, work and live
Visakhapatnam is the largest city of Andhra Pradesh. Visakhapatnam has a GDP of $43.5 billion. It is the 9th richest city in India.Fishing industry, road–rail connectivity, many heavy industries like Hindustan Petroleum, Visakhapatnam Steel Plant, Hindustan Shipyard, Visakhapatnam Port Trust, National Thermal Power, Bharat Heavy Electricals, BARC, Naval Science and Technological Laboratory, Naval Dockyard, Dredging Corporation of India, Strategic Petroleum Reserve, NMDC, CONCOR, Andhra Pradesh Medtech Zone etc..
Private sector like Coromandel International, Ferro Alloys Corporation, Gangavaram Port, etc., are the factors that made the city into an industrial hub, from a small hamlet.Tourism also plays an important role in generating revenue, with numerous tourist destinations in and around the city.Blessed with a natural harbour and one of the largest ports of India, sea trade was made possible with other countries which also boosts the economy.The service sector contributes for 55 per cent of total GDP of Visakhapatnam, while 35 per cent comes from the industrial sector and 10 per cent from agricultural and allied sectors.
There are special economic zones (SEZs) and industrial corridors such as Visakhapatnam Special Economic Zone (VSEZ),APSEZ, APIIC, Aganumpudi Industrial Park, Visakha Dairy, JNPC
Jawaharlal Nehru Pharma City (Ramky Pharma City (India) Limited) is a Public Private Partnership between Government of Andhra Pradesh and Ramky Group. It is a special purpose entity, setup for the manufacturing of bulk drugs and pharmaceuticals. It is the first industrial township in India, spread over an extent of 2,400 acres (970 ha) with 102 companies and 8698 employees, presently in operational.
The defense administered Hindustan Shipyard Limited, built the first ship of India in 1948, which was named as Jala Usha and also built 167 various size of ships.Visakhapatnam Steel Plant, whose corporate entity RINL is the second largest state-run steel industry. The capacity of the plant has been upgraded to 6.3MT, and it covers an area of 20,000 acres.
Visakhapatnam Port is one of the largest cargo handling ports in India. It can accommodate 150,000 DWT vessels and draft up to 17 m (56 ft).
Fishing is a major occupation in Visakhapatnam, as many fishermen depend on fishing for their livelihood. The fishing harbour at Visakhapatnam Port is one of the biggest in the coastal corridor of Andhra Pradesh and also exports seafood such as Tuna
The ITES and IT sector is growing at its pace in the city of Visakhapatnam, the generated revenue from these sectors are a boon to the economy.
Visakhapatnam and its surrounding areas are having mineral deposits of quartzite, bauxite, graphite, manganese, titanium, silica sand and 1,000 MT of bauxite reserves.
The Executive Committee consists of eight elected members including office bearers. The Executive Committee meets every month.
The following are the Executive Committee for the year of 2023-2024