The most popular businesses in Visakhapatnam are shipping and port-related industries. This city is a major port city from where a major export-import work of India takes place. Businesses such as logistics, cargo handling, warehousing and marine services have grown rapidly due to the Visakhapatnam Port Trust and its natural harbour.
This area has become a hub for transportation of products such as steel, coal, crude oil and fertilizers, due to which many companies have established their base here.
Another popular business sector is manufacturing companies in Visakhapatnam has large industrial units like Rashtriya Ispat Nigam Limited (Vizag Steel Plant), Hindustan Shipyard Limited and Bharat Heavy Electricals.
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Apart from these, pharmaceutical and IT sectors have also now become booming business areas. Tourism, seafood processing and hospitality business is also growing rapidly here, as this city is known as a peaceful and beautiful coastal destination.