According to his office, Prime Minister Narendra Modi will visit Maharashtra on Friday. While there, he would give a speech at the Global Fintech Fest (GFF) 2024 in Mumbai and lay the cornerstone for the ₹ 76,000 crore Vadhvan Port project in Palghar.
The Prime Minister’s Office (PMO) stated in a statement on Thursday that PM Modi will speak at GFF 2024 at the Jio World Convention Centre in Mumbai at 11 a.m. and then, at approximately 1:30 p.m., he will inaugurate and lay the foundation stone of several development projects at CIDCO ground, Palghar.
The goal of the Vadhvan Port is to provide a top-notch maritime entry point that will support big container ships, provide deeper drafts, and foster the nation’s commerce and economic expansion.
According to the statement, Vadhvan Port, which is situated in the Palghar district close to Dahanu town, will rank among the biggest deep-water ports in India and offer direct access to international shipping lanes, cutting down on both transit times and prices.
According to the statement, the port is anticipated to create a large number of job possibilities, boost neighbourhood companies, and support the region’s general economic growth.
In addition, PM Modi will officially open and lay the groundwork for 218 fisheries projects, totalling around ₹ 1,560 crore, with the goal of enhancing the infrastructure and production of the industry throughout the country.
It stated that more than five lakh job opportunities in the fishing industry are anticipated as a result of these activities.
At an estimated expense of ₹360 crore, he will also introduce the National Roll Out of Vessel Communication and Support system. According to the announcement, this scheme will gradually install one lakh transponders aboard motorised and mechanised fishing vessels throughout 13 coastal states and Union Territories.
The prime minister will also launch other projects including integrated aquaparks and fishing harbours, as well as the use of cutting-edge technology like biofloc and the recirculatory aquaculture system.
The prime minister will also lay the groundwork for significant initiatives involving the infrastructure of the fishing industry, including as the construction of fish markets, fish landing facilities, and the development, modernisation, and upgrading of fishing harbours.
The Fintech Convergence Council, National Payments Corporation of India, and Payments Council of India are organising GFF together. At the conference, over 350 sessions will be addressed by almost 800 speakers, including academics from India and other nations, senior bankers, regulators, policymakers, and industry captains.
Additionally, it will feature the most recent advancements in the financial industry. The announcement further stated that more than 20 thought leadership studies and white papers with insights and comprehensive industry data will be released during GFF 2024.
