PM Narendra Modi’s Visit to Maharashtra: Launching the Vadhvan Port Project and Addressing the Global Fintech Fest
On Friday, August 30, 2024, Prime Minister Narendra Modi will embark on a significant visit to Maharashtra, where he will oversee the inauguration of several crucial projects in Palghar, including the Vadhvan Port project, and address the Global Fintech Fest (GFF) in Mumbai. This visit marks a pivotal moment in India’s development, as it underscores the government’s commitment to infrastructure growth and technological advancement.
According to a statement from the Prime Minister’s Office (PMO), Modi’s itinerary begins in Mumbai with a special session at the Global Fintech Fest, held at the Jio World Convention Centre. The event is jointly organized by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council. It will feature over 800 speakers, including policymakers, industry leaders, and academicians from India and abroad, who will discuss the latest innovations in the fintech sector. More than 350 sessions will take place, during which over 20 reports and white papers will be launched, providing valuable insights into the industry.
Following his engagement in Mumbai, Modi will travel to Palghar, where he will lay the foundation stone for the Vadhvan Port project. This deepwater port, located near Dahanu town, is poised to become one of India’s largest maritime hubs. The project, with an estimated cost of ₹76,000 crores, aims to enhance India’s maritime connectivity by providing direct links to international shipping routes. This will reduce transit times and costs, making India a more competitive player in global trade. Additionally, the port is expected to generate substantial employment opportunities and stimulate local businesses, contributing to the overall economic development of the region.
The Vadhvan Port will be equipped with state-of-the-art technology, including deep berths, efficient cargo handling facilities, and modern port management systems. In line with the government’s emphasis on sustainable development, the project incorporates measures to minimize environmental impact and adhere to stringent ecological standards.
In addition to the port project, Modi will inaugurate and lay the foundation for 218 fisheries projects across the country, valued at approximately ₹1,560 crores. These projects are part of a broader initiative to strengthen the fisheries sector, providing the necessary infrastructure and inputs to boost fish production and improve post-harvest management. The PMO’s statement highlights that these projects are expected to create over five lakh employment opportunities in the fisheries sector, further contributing to India’s economic growth.
Among the fisheries initiatives are the development and modernization of fishing harbours, fish landing centres, and fish markets, which will ensure hygienic conditions for post-harvest management. Additionally, the adoption of advanced technologies such as the Recirculatory Aquaculture System and Biofloc will enhance the sector’s productivity and sustainability.
Modi will also launch the National Rollout of the Vessel Communication and Support system, an indigenous technology developed by ISRO, which will cost around ₹360 crores. This system, which will be installed in a phased manner on mechanized and motorized fishing vessels in 13 coastal states and union territories, is designed to establish two-way communication with fishermen at sea. It will also play a crucial role in rescue operations, ensuring the safety of fishermen and enhancing their livelihoods.
Ahead of his visit, Modi expressed his enthusiasm on social media, stating that he looks forward to being among the people of Maharashtra and highlighting the importance of the Global Fintech Fest as a platform showcasing India’s advancements in the fintech sector. The Vadhvan Port project, he noted, signifies the government’s commitment to port-led development and the progress of Maharashtra.
The Vadhvan Port project, with its focus on enhancing India’s maritime infrastructure and connectivity, along with the array of fisheries projects and the Global Fintech Fest, underscores the government’s dedication to fostering sustainable economic growth and technological innovation.