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 would speak at GFF 2024 at the Jio World Convention Centre in Mumbai at 11 a.m. and then, at about 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 marine 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, would 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 provide a large number of job opportunities, boost neighborhood companies, and support the region’s general economic growth.
In addition, PM Modi will dedicate and lay the groundwork for 218 fisheries projects, totaling around ₹ 1,560 crore, with the goal of enhancing the nation’s infrastructure and production in this field.
These initiatives are expected to generate more than five lakh employment opportunities in the fisheries sector, it said.
He will also launch the National Roll Out of Vessel Communication and Support system at a cost of around ₹ 360 crore. Under this project, one lakh transponders will be installed in a phased manner on mechanised and motorised fishing vessels in 13 coastal states and Union Territories, the statement said.
Other initiatives to be inaugurated by the prime minister include the development of fishing harbours and integrated aquaparks alongside the adoption of advanced technologies such as the recirculatory aquaculture system and biofloc.
The prime minister will also lay the foundation stone for important fishery infrastructure projects including development, upgradation and modernisation of fishing harbours, fish landing centres and construction of fish markets.
GFF is being jointly organized by the Payments Council of India, the National Payments Corporation of India and the Fintech Convergence Council. Around 800 speakers, including policymakers, regulators, senior bankers, industry captains and academicians from India and various other countries will address more than 350 sessions at the conference.
It will also showcase the latest innovations in the fintech landscape. Over 20 thought leadership reports and white papers will be launched at GFF 2024, offering insights and in-depth industry information, the statement added.
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