Lagatar24 Desk
Mumbai: Prime Minister Narendra Modi is set to visit Maharashtra today, where he will lay the foundation stone for the ₹76,000 crore Vadhvan Port project in Palghar and address the Global Fintech Fest (GFF) 2024 in Mumbai, according to an official statement.
The Prime Minister’s itinerary includes an address at GFF 2024 at the Jio World Convention Centre in Mumbai at 11 am, followed by the inauguration and foundation stone-laying ceremony of various development projects at the CIDCO ground in Palghar at around 1:30 pm.
The Vadhvan Port, located near Dahanu in Palghar district, is poised to become one of India’s largest deep-water ports. This world-class maritime gateway is designed to enhance the nation’s trade capabilities by accommodating large container vessels and ultra-large cargo ships, offering deeper drafts, and providing direct connectivity to international shipping routes. The port is expected to reduce transit times and costs, significantly boosting India’s economic growth.
In addition to improving maritime infrastructure, the Vadhvan Port project is anticipated to generate substantial employment opportunities, invigorate local businesses, and contribute to the overall economic development of the region.
During his visit, Prime Minister Modi will also inaugurate and lay the foundation stone for 218 fisheries projects, valued at approximately ₹1,560 crore. These projects aim to strengthen the fisheries sector’s infrastructure and productivity nationwide, with an expected impact of generating over five lakh employment opportunities.
Furthermore, PM Modi will launch the National Roll Out of the Vessel Communication and Support System, a project worth around ₹360 crore. This initiative will involve the phased installation of one lakh transponders on mechanized and motorized fishing vessels across 13 coastal states and Union Territories, enhancing communication and safety in the fishing industry.
Other key initiatives to be inaugurated include the development and modernization of fishing harbors, fish landing centers, and fish markets. The Prime Minister will also promote the adoption of advanced technologies in the fisheries sector, such as the recirculatory aquaculture system and biofloc technology.
The GFF 2024, jointly organized by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council, will feature around 800 speakers, including policymakers, regulators, senior bankers, industry leaders, and academicians from India and abroad. Over 350 sessions will be conducted, showcasing the latest innovations in the fintech industry. The event will also see the launch of more than 20 thought leadership reports and white papers, providing valuable insights into the fintech landscape.
