PM Modi has laid the foundation for the Vadhavan Port and 218 fisheries projects worth ₹77,560 crores, boosting trade, employment, and sustainability. He will also launch a ₹360 crore vessel communication system to enhance fishermen’s safety.
Prime Minister Narendra Modi laid the foundation stone for the Vadhavan Port, a landmark project valued at ₹76,000 crore. This initiative aims to create a world-class maritime gateway near Dahanu in Palghar district, positioning the port as one of India’s largest deep-water ports. Designed to accommodate large container vessels and ultra-large cargo ships, the port will enhance trade and economic growth by offering direct connectivity to international shipping routes. The state-of-the-art facility will feature deep berths, modern cargo handling equipment, and advanced technology and is expected to generate significant employment opportunities and stimulate local businesses. The port’s development will also adhere to sustainable practices and environmental standards.
In addition, PM Modi will inaugurate and lay the foundation for 218 fisheries projects worth approximately ₹1,560 crores. These projects aim to strengthen the infrastructure and productivity of the fisheries sector nationwide, creating over five lakh employment opportunities. The Prime Minister will also launch the National Roll Out of the Vessel Communication and Support System, a ₹360 crore initiative to install 100,000 transponders on fishing vessels across 13 coastal states and union territories. Developed by ISRO, this system will enhance communication, safety, and rescue operations for fishermen.
Other key initiatives include the development of fishing harbours, integrated aquaparks, and the adoption of advanced technologies such as the recirculatory aquaculture system and Biofloc. These efforts are expected to improve fish production, post-harvest management, and overall livelihoods in the fisheries sector.
Additionally, PM Modi will address a special session at the Global Fintech Fest 2024, organised by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council. The conference will feature around 800 speakers, including policymakers, regulators, senior bankers, and industry leaders, showcasing the latest fintech innovations. Over 20 thought leadership reports and white papers will be launched, providing valuable insights and industry information.
