PM Modi Lays Foundation for Rs. 76,000 Crore Vadhvan Port in Maharashtra, Addresses Global Fintech Fest 2024

Mumbai/Palghar, August 30, 2024 – Prime Minister Narendra Modi is set to visit Maharashtra today, where he will lay the foundation stone for the highly anticipated Vadhvan Port project in Palghar, a massive Rs 76,000 crore initiative. This deepwater port is poised to become one of India’s largest, significantly enhancing the country’s maritime connectivity by accommodating large container vessels and ultra-large cargo ships.

The Vadhvan Port is expected to not only boost India’s maritime infrastructure but also create numerous employment opportunities and contribute to regional economic growth while adhering to strict environmental standards.

PM Modi will also address the Global Fintech Fest 2024 at the Jio World Convention Centre in Mumbai. Organized by the Payments Council of India and other key organizations, the event will feature over 800 speakers, including global policymakers and industry leaders. The Prime Minister’s address is expected to highlight India’s advancements in the fintech sector. The conference will also witness the release of more than 20 thought leadership reports and white papers on the latest developments in fintech.

In addition, PM Modi will inaugurate 218 fisheries projects worth approximately Rs 1,560 crores. These initiatives are aimed at boosting infrastructure and productivity across India’s fisheries sector, with an expected creation of over five lakh employment opportunities. The Prime Minister will also launch the National Roll Out of the Vessel Communication and Support system, developed by ISRO, which will enhance the safety and communication of fishermen at sea.

Expressing his enthusiasm, PM Modi shared on X, “I look forward to being among the people of Maharashtra tomorrow, 30th August. I will take part in programmes in Mumbai and Palghar. This is a very important project, signifying our commitment to port-led development and to the progress of Maharashtra.”