PM Modi to Inaugurate Vadhvan Port Project and Address Global Fintech Fest in Maharashtra

Prime Minister Narendra Modi will lay the foundation stone for the Vadhvan Port project worth Rs 76,000 crores in Maharashtra. He will also address the Global Fintech Fest 2024 in Mumbai, highlighting India's fintech strides. The initiatives are expected to generate significant employment and economic growth.

Prime Minister Narendra Modi is set to visit Maharashtra today to lay the foundation stone for the Vadhvan Port project valued at approximately Rs 76,000 crores in Palghar. Modi will also address the Global Fintech Fest 2024 in Mumbai.

'I look forward to being among the people of Maharashtra tomorrow, 30th August,' Modi posted on X. 'I will take part in programs in Mumbai and Palghar. In Mumbai, I will participate in the Global Fintech Fest 2024 at around 11 AM. This platform showcases India's strides in the world of Fintech and brings together key stakeholders of the sector. Thereafter, I will be in Palghar for the foundation stone laying program of the Vadhvan Port project. This is a very important project, signifying our commitment to port-led development and to the progress of Maharastra.'

At 11 AM, the PM will address the Global Fintech Fest (GFF) 2024 at the Jio World Convention Centre in Mumbai. By 1:30 PM, Modi will inaugurate and lay the foundation stone for various development projects at the CIDCO ground in Palghar, according to a press release by the Prime Minister's Office. The Fintech event, jointly organized by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council, will feature around 800 speakers across 350 sessions, showcasing latest fintech innovations.

The Vadhvan Port project, poised to become one of India's largest deepwater ports, aims to bolster maritime connectivity, facilitating trade with large container vessels and ultra-large cargo ships. The project is expected to generate significant employment, boost local businesses, and contribute to the region's overall economic development while adhering to sustainable and ecological practices.

In addition, Modi will lay the foundation stone for 218 fisheries projects worth Rs 1,560 crores, expected to create over five lakh employment opportunities. The PM will also launch the National Roll Out of the Vessel Communication and Support system, a project developed by ISRO, with a budget of Rs 360 crores, to install communication transponders on fishing vessels in 13 coastal states and union territories, enhancing safety and rescue operations for fishermen.

Other initiatives include the development of fishing harbours, Integrated Aquaparks, and the adoption of advanced technologies to boost fish production and create sustainable livelihoods in the fisheries sector. These projects will improve infrastructure, enhance post-harvest management, and upgrade fish landing centres and markets, ensuring necessary facilities and hygienic conditions for the seafood industry.

(With inputs from agencies.)