Prime Minister Narendra Modi laid the foundation stone for the Vadhvan Port project in Maharashtra’s Palghar district on Friday. The project, valued at approximately Rs 76,000 crore, is poised to become a major hub for maritime trade.
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- In addition to the Vadhvan Port project, PM Modi also laid the foundation stone for 218 fisheries projects in Palghar, amounting to Rs 1,560 crore. These initiatives are aimed at boosting the fishing industry in the district, providing a substantial economic uplift to local communities dependent on fisheries.
- During the event, the Prime Minister launched the National Roll Out of the Vessel Communication and Support system, a Rs 360 crore initiative developed by ISRO.
- This system, which will see the phased installation of one lakh transponders on mechanized and motorized fishing vessels across 13 coastal states and Union Territories, is designed to enhance the safety of fishermen at sea by facilitating two-way communication and aiding in rescue operations.
- The Prime Minister also addressed the Global Fintech Fest (GFF) at Mumbai’s Jio Convention Center. In his speech, he lauded the rapid growth of the fintech sector in India, noting its pivotal role in democratizing financial services and promoting inclusivity.
- PM Modi also called upon regulators to strengthen measures against cyber fraud and to boost digital literacy nationwide, ensuring that the benefits of the fintech revolution reach every corner of the country.
- According to prime minister’s office (PMO), PM Narendra Modi will begin his visit with Mumbai and later visit Palghar in the afternoon.
- PM Modi will reach the Jio Convention Centre around 11am, where he will address a special session of the Global Fintech Fest in Mumbai – an event jointly organised by the Payments Council of India, the National Payments Corporation of India and the Fintech Convergence Council.
- According to PMO, 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 Global Fintech conference. It will also showcase the latest innovations in the fintech landscape.
- Later in the afternoon, PM Modi will reach Palghar where he will lay the foundation stone of ₹76,000 crores worth of project in Vadhvan Port, which will boost country’s trade and provide direct connectivity to international shipping routes.
- He will also inaugurate and lay the foundation stone of 218 fisheries projects worth around ₹1,560 crores, aimed at bolstering the sector’s infrastructure and productivity across the nation.
- PM Modi will launch the National Rollout of Vessel Communication and Support system, which costs around ₹360 crores.
