PM Modi Lays Foundation for Vadhvan Port, Set to Boost India's Trade

PM Modi laid the foundation of Vadhvan Port in Palghar, Maharashtra, expected to be India's largest deep-water port. With Rs 76,220 crore investment, it promises significant trade and GDP boosts, enhanced connectivity, and job creation. The port is envisioned as a green port supporting economic and environmental goals.

On Friday, Prime Minister Narendra Modi laid the foundation stone for the Vadhvan Port in Palghar, Maharashtra. Set to become India's largest deep-water port with an investment of Rs 76,220 crore, Vadhvan Port is expected to significantly enhance India's trade capabilities due to its strategic location and substantial capacity.

The new port promises improved connectivity with Central Asia and Russia, boosting trade via the International North-South Transport Corridor (INSTC) and the India-Middle East-Europe Economic Corridor. As a relief to the currently largest container-handling port, Jawaharlal Nehru Port, the Vadhvan Port is projected to contribute over one percent to Maharashtra's GDP and drive economic growth in the region.

Vadhvan Port will integrate with the Dedicated Freight Corridors of the Delhi-Mumbai Industrial Corridor, ensuring efficient cargo connectivity. The project will unfold in two transformative phases, featuring state-of-the-art facilities with the capacity to handle 23.2 million TEUs by the second phase. Furthermore, the port is forecasted to generate around 12 lakh direct jobs and over one crore indirect jobs.

Conceived as a green port, Vadhvan Port aims to balance economic growth and environmental stewardship, supporting India's blue economy. It is anticipated to accelerate socio-economic development for coastal communities and enhance maritime connectivity, reinforcing India's position as a global trade hub. Operational by 2030, the port will drive substantial contributions to the region's prosperity.

Prime Minister Modi called the Vadhvan Port project a "very special project," emphasizing its developmental impact and reiterating Maharashtra's status as a "powerhouse of progress."

(With inputs from agencies.)