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Prime Minister Narendra Modi is set to make a significant visit to Maharashtra today, marking two major events: addressing the Global Fintech Fest (GFF) 2024 and inaugurating the ambitious Vadhvan Port project. The visit highlights the government’s commitment to advancing both economic infrastructure and technological innovation.
Vadhvan Port Inauguration
At 1:30 PM today, PM Modi will lay the foundation stone for the Vadhvan Port in Palghar, a monumental project valued at approximately ₹76,000 crore. This deep-water port, situated near Dahanu town, is poised to become one of India’s largest maritime gateways. The port is designed to handle large container vessels and ultra-large cargo ships, offering deeper drafts and reducing transit times and costs. It aims to enhance the country’s trade capabilities and economic growth significantly.
The Vadhvan Port project is expected to generate substantial employment opportunities and stimulate local businesses. It will provide direct connectivity to international shipping routes, further integrating India’s trade with global markets.
Development Initiatives
In addition to the port, PM Modi will inaugurate and lay the foundation for various other development projects:
- Fisheries Sector: The Prime Minister will oversee the launch of 218 fisheries projects valued at around ₹1,560 crore. These initiatives are aimed at enhancing the sector’s infrastructure and productivity, creating over 500,000 employment opportunities.
- Vessel Communication System: Modi will also launch the National Roll Out of the Vessel Communication and Support system, costing approximately ₹360 crore. This project will see the installation of one lakh transponders on mechanised and motorised fishing vessels across 13 coastal states and Union Territories.
- Fishing Infrastructure: Further developments include the construction and modernisation of fishing harbours, fish landing centres, and markets, alongside the adoption of advanced technologies such as the recirculatory aquaculture system and biofloc.
Global Fintech Fest (GFF) 2024
Earlier in the day, PM Modi will address the GFF 2024 at the Jio World Convention Centre in Mumbai. The festival, jointly organised by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council, will feature over 350 sessions with approximately 800 speakers from various sectors. The conference aims to showcase the latest innovations in the fintech landscape and will release over 20 thought leadership reports and white papers.
Sources By Agencies
