PM Narendra Modi to Launch ₹76,000 Crore Vadhvan Port Project and Address Global Fintech Fest in Mumbai

PM Narendra Modi to Launch ₹76,000 Crore Vadhvan Port Project: On Friday, Prime Minister Narendra Modi will visit Maharashtra to speak at the Global Fintech Fest (GFF) 2024 in Mumbai and lay the cornerstone for the Vadhvan Port project in Palghar.

PM Modi will address the GFF 2024 at 11 am in the Jio World Convention Centre in Mumbai.

After meeting with the GFF, at 1:30 pm, PM Modi will then attend the inauguration of several development projects at the CIDCO ground in Palghar.

Among these projects, one of the most important projects is the Vadhvan Port which is a maritime development with an expenditure of Rs 76,000 crore.

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The Vadhvan Port is situated near Dahanu town in the Palghar district which will become India’s biggest deep-water port and will provide direct access to international shipping routes.

After the construction, the Vadhvan port is expected to increase trade and reduce transit time. It is also expected to cut expenses and help to boost the economic growth of the country.

The PTI news agency reported that development will also help to grow the small companies which will ultimately increase job opportunities in the country.

PM Modi will also lay the foundation stone for 218 fisheries projects worth over Rs 1,560 crore which is expected to improve the nation's production in the fisheries industry.

He will also inaugurate and lay the foundation stone for the National Rollout of the Vessel Communication and Support System projects worth over Rs 360 crore.

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As part of this effort, one lakh transponders will be put on mechanized and motorized fishing vessels throughout 13 coastal states and Union Territories.

Other projects that PM Modi will address to lay the foundation stone include the construction of integrated aquaparks, fishing harbors, and the adoption of cutting-edge technologies like bio floc and recirculatory aquaculture systems.

The Prime Minister will also attend the inauguration for the construction of fish markets, fish landing center, and better fishing harbors.

The Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council together organize the Global Fintech Fest (GFF) 2024. The Global Fintech Fest (GFF) 2024 consists of 800 speakers and will address over 350 sessions.

The event will also release more than 20 thought leadership reports and a white paper that consists of comprehensive analysis and market data.

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