New Delhi: On Friday, August 30, Prime Minister Narendra Modi will visit Maharashtra to lay the foundation stone for the Vadhvan Port project in Palghar and address the Global Fintech Fest (GFF) at the Jio World Convention Centre in Mumbai. The visit underscores the Indian governments commitment to infrastructure development and innovation in the financial technology sector.Key pointsThe Prime Ministers Office (PMO) has outlined Modis schedule, starting with his arrival in Mumbai. At 11:00 AM, Modi will deliver a keynote speech at the Global Fintech Fest, an event co-organized by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council. The conference will host over 800 speakers, including global policymakers, regulators, and industry leaders, across more than 350 sessions. GFF 2024 will also unveil over 20 thought leadership reports and white papers, providing deep insights into the fintech industry.Following his engagement in Mumbai, PM Modi will head to Palghar around 1:30 PM to launch the Vadhvan Port project, a ₹76,000 crore initiative that will be one of Indias largest deepwater ports. The project is expected to enhance Indias maritime connectivity, positioning the nation as a key player in global trade. The port will incorporate advanced technology and sustainable practices, emphasizing minimal environmental impact.Outline of Modis activitiesIn addition, Modi will inaugurate 218 fisheries projects worth ₹1,560 crore, aimed at boosting infrastructure and productivity in the sector. These projects, which include the development of fishing harbors and integrated aquaparks, are projected to create over five lakh jobs in the fisheries industry.The PM will also launch the National Rollout of the Vessel Communication and Support System, developed by ISRO, enhancing safety and communication for fishermen at sea. Taking to his X handle, PM Modi posted:महाराष्ट्रातील जनतेबरोबर उद्या, 30 ऑगस्ट रोजी येण्यासाठी मी उत्सुक आहे. मुंबई आणि पालघर इथल्या कार्यक्रमांमध्ये मी सहभागी होणार आहे.मुंबईमध्ये, ग्लोबल फिनटेक फेस्ट 2024 या कार्यक्रमात सकाळी 11 वाजता मी सहभागी होणार आहे. या मंचावर भारताने फिनटेकच्या जगात घेतलेल्या भरारीचे…— Narendra Modi (@narendramodi) August 29, 2024What is Vadhvan PortThe Vadhvan Port, strategically located near Dahanu town in Palghar district, Maharashtra, is set to become one of Indias largest deepwater ports, with a project cost estimated at ₹76,000 crores. This monumental initiative is poised to significantly enhance Indias maritime connectivity, fortifying the nations standing as a pivotal hub in global trade.The ports design focuses on providing direct connectivity to international shipping routes, which will streamline transit times and reduce logistical costs for businesses. In addition to bolstering global trade, the Vadhvan Port is expected to generate substantial employment opportunities, driving economic growth in the Palghar region and stimulating local businesses.The Vadhvan Port will be equipped with cutting-edge technology and infrastructure. Its features will include deep berths capable of accommodating large vessels, efficient cargo handling facilities, and modern port management systems.The Vadhvan Port project represents a crucial step in Indias journey toward becoming a global trade leader.
