Mumbai/Palghar, August 29, 2024: Prime Minister Narendra Modi is set to visit Mumbai and Palghar in Maharashtra on August 30, 2024, for a series of high-profile events aimed at boosting the state's infrastructure and economic development. At around 11 AM, the Prime Minister will address the Global Fintech Fest (GFF) 2024 at the Jio World Convention Centre in Mumbai. Following this, at around 1:30 PM, he will lay the foundation stone for the Vadhvan Port project and inaugurate several fisheries projects in Palghar.
Vadhvan Port to Transform India's Maritime Connectivity
One of the major highlights of the visit is the foundation stone laying of the Vadhvan Port project, which is estimated to cost around Rs 76,000 crores. Located near Dahanu town in the Palghar district, Vadhvan Port is set to become one of India's largest deep-water ports, enhancing the nation's maritime infrastructure. Designed to accommodate large container vessels and ultra-large cargo ships, the port will offer deeper drafts and direct connectivity to international shipping routes, significantly reducing transit times and costs.
The Vadhvan Port is expected to boost India’s standing as a global trade hub, offering state-of-the-art technology, deep berths, efficient cargo handling facilities, and modern port management systems. The project is also expected to generate significant employment opportunities and contribute to the economic growth of the region, while adhering to sustainable development practices to minimize environmental impact.
Boost to Fisheries Sector with 218 New Projects
During his visit, Prime Minister Modi will also inaugurate and lay the foundation stone for 218 fisheries projects worth around Rs 1,560 crores. These initiatives are designed to strengthen the fisheries sector’s infrastructure and productivity nationwide, potentially generating more than five lakh employment opportunities.
Among the initiatives is the National Roll Out of the Vessel Communication and Support System, a Rs 360 crore project under which one lakh transponders will be installed on mechanised and motorised fishing vessels in 13 coastal states and Union Territories. This system, developed using indigenous technology by ISRO, will ensure two-way communication and enhance the safety of fishermen at sea.
Innovations in Fisheries: From Aquaparks to Advanced Tech
The Prime Minister will also inaugurate various other fisheries initiatives, including the development of fishing harbours, Integrated Aquaparks, and the implementation of advanced technologies such as the Recirculatory Aquaculture System and Biofloc. These projects will improve fish production, post-harvest management, and create sustainable livelihoods for millions in the fisheries sector.
Global Fintech Fest 2024: A Convergence of Minds
In Mumbai, Prime Minister Modi will address a special session of the Global Fintech Fest (GFF) 2024, a major event organized by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council. The event will see participation from around 800 speakers, including policymakers, regulators, senior bankers, industry leaders, and academicians from India and abroad. The GFF 2024 will feature more than 350 sessions and will showcase the latest innovations in the fintech landscape. Over 20 thought leadership reports and white papers will also be launched during the event.
Prime Minister Modi’s visit is set to pave the way for significant advancements in both the maritime and fintech sectors, reaffirming India's commitment to economic growth and technological innovation.
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