Prime Minister Narendra Modi is set to visit Maharashtra on Friday, where he will participate in the Global Fintech Fest (GFF) 2024 in Mumbai and lay the foundation stone for the Vadhvan Port project in Palghar, valued at approximately ₹76,000 crore, according to a statement from his office.
PM Modi will address GFF 2024 at the Jio World Convention Centre in Mumbai at 11 am. Following this, around 1:30 pm, he will inaugurate and lay the foundation stone for various development projects at the CIDCO ground in Palghar, as noted by the Prime Minister’s Office (PMO).
The Vadhvan Port is envisioned as a cutting-edge maritime gateway that will enhance India’s trade and economic growth by accommodating large container vessels, providing deeper drafts, and supporting ultra-large cargo ships. Located near Dahanu town in Palghar district, Vadhvan Port will be one of the country’s largest deep-water ports, offering direct connectivity to international shipping routes and reducing transit times and costs.
The project is expected to create significant employment opportunities, boost local businesses, and contribute to the overall economic development of the region.
In addition to the port project, PM Modi will inaugurate and lay the foundation stone for 218 fisheries projects worth around ₹1,560 crore. These initiatives aim to strengthen infrastructure and productivity in the fisheries sector across India and are expected to generate over five lakh employment opportunities.
The Prime Minister will also launch the National Rollout of the Vessel Communication and Support System, with an investment of around ₹360 crore. This project will see the phased installation of one lakh transponders on mechanized and motorized fishing vessels across 13 coastal states and Union Territories.
Other key initiatives to be inaugurated include the development of fishing harbors, integrated aquaparks, and the adoption of advanced technologies such as the recirculatory aquaculture system and biofloc. PM Modi will also lay the foundation stone for crucial fishery infrastructure projects, including the development, upgrading, and modernization of fishing harbors, fish landing centers, and fish markets.
The GFF is being jointly organized by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council. The event will feature over 800 speakers, including policymakers, regulators, senior bankers, industry leaders, and academicians from India and around the world, addressing more than 350 sessions.
