Prime Minister Narendra Modi will visit Maharashtra on Friday (August 30), where he will address the Global Fintech Fest (GFF) 2024 in Mumbai and lay the foundation stone for the Vadhvan Port project in Palghar, according to a statement from his office. The Prime Minister will speak at GFF 2024 at the Jio World Convention Centre in Mumbai at 11 am.
Following his address, at around 1:30 pm, PM Modi will inaugurate and lay the foundation stone for various development projects at the CIDCO ground in Palghar. One of the major projects is the Vadhvan Port, a significant maritime development with an investment of around Rs 76,000 crore. Located near Dahanu town in Palghar district, Vadhvan Port is set to become one of India’s largest deep-water ports, providing direct connectivity to international shipping routes. The port is expected to boost trade, reduce transit times, lower costs, and contribute to the overall economic development of the region. It is also anticipated to create substantial employment opportunities and stimulate local businesses, reports news agency, PTI.
Inauguration of fisheries projects
In addition to the port project, PM Modi will inaugurate and lay the foundation stone for 218 fisheries projects worth around Rs 1,560 crore, aimed at enhancing infrastructure and productivity in the fisheries sector across the country. These initiatives are expected to generate over five lakh employment opportunities.
PM Modi will also launch the National Rollout of the Vessel Communication and Support System, a project valued at around Rs 360 crore. As part of this initiative, one lakh transponders will be installed in a phased manner on mechanised and motorised fishing vessels across 13 coastal states and Union Territories.
Development of harbours
Other projects to be inaugurated include the development of fishing harbours, integrated aquaparks, and the adoption of advanced technologies such as the recirculatory aquaculture system and biofloc. The Prime Minister will also lay the foundation stone for key fishery infrastructure projects, including the development, upgradation, and modernisation of fishing harbours, fish landing centres, and the construction of fish markets.
The Global Fintech Fest (GFF) 2024 is being jointly organized by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council. The event will feature around 800 speakers, including policymakers, regulators, senior bankers, industry leaders, and academicians from India and abroad, who will address more than 350 sessions. The conference will also showcase the latest innovations in the fintech landscape, with over 20 thought leadership reports and white papers set to be launched, providing insights and in-depth industry information.