Mumbai: Prime Minister Narendra Modi is scheduled to visit Maharashtra on Friday, where he will address the Global Fintech Fest (GFF) 2024 in Mumbai and initiate the Vadhvan Port project, valued at approximately Rs 76,000 crore, in Palghar.
Modi will speak at GFF 2024 at the Jio World Convention Centre in Mumbai at 11 am, and later at around 1:30 pm, he will inaugurate and lay the foundation stones for various development projects at the CIDCO ground in Palghar, according to a statement from the Prime Minister’s Office (PMO) on Thursday.
The Vadhvan Port is designed to be a world-class maritime gateway, enhancing the nation’s trade and economic growth by accommodating large container vessels with deeper drafts and ultra-large cargo ships, the statement explained.
Situated near Dahanu town in the Palghar district, Vadhvan Port is set to become one of India’s largest deep-water ports, offering direct connectivity to international shipping routes, thereby reducing transit times and costs, the statement added.
The port is anticipated to create significant employment opportunities, boost local businesses, and contribute to the region’s overall economic development, it mentioned.
Furthermore, PM Modi will inaugurate and lay the foundation stone for 218 fisheries projects worth approximately Rs 1,560 crore, aimed at enhancing the infrastructure and productivity of the sector nationwide.
These projects are expected to create over five lakh job opportunities in the fisheries sector, the statement noted.
Additionally, he will launch the National Roll Out of the Vessel Communication and Support system, costing about Rs 360 crore. This project involves installing one lakh transponders on mechanised and motorised fishing vessels across 13 coastal states and Union Territories in a phased approach, according to the statement.
The prime minister’s upcoming initiatives include inaugurating developments in fishing harbours and integrated aquaparks, as well as adopting cutting-edge technologies like recirculatory aquaculture systems and bio floc.
Additionally, the prime minister is set to lay the foundation for significant fishery infrastructure projects, which encompass the development, enhancement, and modernization of fishing harbours, fish landing centres, and the construction of new fish markets.
The Global Fintech Fest (GFF) is being organized collaboratively by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council. The conference will feature approximately 800 speakers, including policymakers, regulators, senior bankers, industry leaders, and academics from India and abroad, who will participate in over 350 sessions.
Furthermore, GFF 2024 will highlight the most recent fintech innovations. The event will see the launch of more than 20 thought leadership reports and white papers, providing insights and comprehensive industry information, according to the statement.
