Visakhapatnam is an industrial city with Central, State Government Organizations along with Public Sector undertakings with Public and Private Companies that includes Oil Refinery, Zinc, Fertilizers, Steel, Dredging, Heavy Engineering, Ship Building and Power Generation with many more small scale industries. Visakhapatnam has rich deposits like Rich Minerals Beach Sand, Graphite, Limestone, Calcite, Bauxite and much more with rich Marine resources.

Visakhapatnam is the 5th busiest port with the natural harbor. Visakhapatnam and Gangavaram are operational ports with Visakhapatnam Node as a part of the VCIC Corridor. The government of Andhra Pradesh has declared Visakhapatnam as FinTech Valley to offer Financial Technology services.

Industries in Visakhapatnam include Visakhapatnam Steel Plant (VSP),Hindustan Petroleum Corporation Limited (HPCL) Plant, Indian Strategic Petroleum Reserves Limited (ISPRL), Steel Authority of India (SAIL), Eastern Naval Command Headquarters of the Indian Navy, Hindustan Shipyard Limited, Information Technology Special Economic Zone (IT SEZ), Jawaharlal Nehru Pharma City (JNPC), Brandix India Apparel City (BIAC), Bharat Heavy Plates and Vessels (BHPV), Naval Science & Technological Laboratory (NSTL), Dredging Corporation of India (DCI), Simhadri Super Thermal Power Plant(STPP) - National Thermal Power Corporation (NTPC), Vizag Thermal Power Plant (VTPP) - Hinduja National Power Corporation Limited (HNPCL) and many more Upcoming projects include, R&D Project of Society for Applied Microwave Electronics Engineering, Upcoming Naval Base at Rayavaram Village, Information Technology Investment Regions (ITIRs), Sunrise Startup Village Incubation Center, Jawaharlal Nehru Pharma City (JNPC), a global destination for manufacturers of bulk drugs, active pharmaceutical ingredients and intermediates housing over 60 leading Pharma Units along with Mega Life Sciences Park.

Bhogapuram in Visakhapatnam has been chosen to construct International Airport.