IIFT to come up in Visakhapatnam

The Centre today announced a bonanza for Andhra Pradesh in the form of Indian Institute of Foreign Trade (IIFT) and a third National Investment and Manufacturing Zone (NIMZ).
The Centre has also agreed to positively consider the state's request for a World Pharmaceutical Trade Centre here.
While foundation stone of a new National Institute of Design was laid today in Hyderabad, Union Commerce Minister Anand Sharma announced that a Footwear Design and Development Institute would also be set up in the city.
"Pharma exports from Andhra Pradesh have shot up to Rs 60,000 crore....The state has come up with a proposal for setting up a World Pharmaceutical Trade Centre in Hyderabad and we will fully support it," Sharma announced at a press conference, accompanied by Chief Minister N Kiran Kumar Reddy, Union HRD Minister M M Pallam Raju and state Major Industries Minister J Geeta Reddy.

"Given the increased port-related activity along the Bay of Bengal coast in the state, there is need for a pool of professionals dealing in foreign trade. So, we are sanctioning the Indian Institute of Foreign Trade at Visakhapatnam," the Commerce Minister said.
Similarly, he had "accepted" the state's request for establishing a third NIMZ in Prakasam district in coastal Andhra region, he said. The Centre has already sanctioned NIMZ at Medak (Telangana) and Chittoor (Rayalaseema).