PM Narendra Modi to Visit Maharashtra on Friday, Address Global Fintech Fest in Mumbai, and Inaugurate Major Projects in Palghar

Prime Minister Narendra Modi is set to visit Maharashtra on Friday, August 30, to lay the foundation stone for the Vadhvan Port project and several other key developments in Palghar. Additionally, he will deliver a keynote address at the Global Fintech Fest (GFF) held at the Jio World Convention Centre in Mumbai.

As per a statement from the Prime Minister's Office (PMO), Modi's itinerary begins in Mumbai, followed by a visit to Palghar in the afternoon.

Around 11 AM, Modi is scheduled to address a special session at the Global Fintech Fest in Mumbai. The event, jointly organized by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council, will feature approximately 800 speakers, including policymakers, regulators, senior bankers, industry leaders, and academicians from India and around the world. The conference will host over 350 sessions, showcasing the latest innovations in the fintech sector. Additionally, more than 20 thought leadership reports and white papers will be launched, providing deep insights into industry trends.

Modi is expected to arrive in Palghar around 1:30 PM to inaugurate and lay the foundation stone for the Vadhvan Port project, which is valued at ₹76,000 crores. He will also inaugurate other significant development initiatives at the CIDCO ground in Palghar.

Among these projects are 218 fisheries projects worth around ₹1,560 crores, designed to enhance infrastructure and productivity in the fisheries sector nationwide. These initiatives are anticipated to create over five lakh jobs in the fisheries industry.

The fisheries-related projects include the development of fishing harbors and Integrated Aquaparks, along with the implementation of advanced technologies such as the Recirculatory Aquaculture System and Biofloc. Modi will also lay the foundation for essential fishery infrastructure projects, including the development, upgrading, and modernization of fishing harbors, fish landing centers, and the construction of fish markets. These efforts aim to provide necessary facilities and hygienic conditions for post-harvest management of fish and seafood.

According to the official release, these projects will be rolled out across multiple states, offering vital infrastructure and high-quality inputs to boost fish production, improve post-harvest management, and create sustainable livelihoods for millions in the fisheries sector.

Modi will also launch the National Rollout of the Vessel Communication and Support System, costing approximately ₹360 crores. This project will see the phased installation of 1 lakh transponders on mechanized and motorized fishing vessels across 13 coastal states and union territories.

The PMO stated that this vessel communication and support system, developed indigenously by ISRO, will enable two-way communication for fishermen at sea, assist in rescue operations, and ensure the safety of fishermen.

Ahead of his visit, Modi expressed his anticipation, stating that he is "looking forward" to being among the people of Maharashtra. "The Global Fintech Fest platform highlights India's advancements in the fintech sector and brings together key stakeholders. Following this, I will be in Palghar for the foundation stone laying of the Vadhvan Port project. This project is crucial, reflecting our commitment to port-led development and Maharashtra's progress," Modi posted on X.

What is the Vadhvan Port Project?

The Vadhvan Port, situated near Dahanu town in Maharashtra's Palghar district, is set to become one of India's largest deepwater ports, enhancing the country's maritime connectivity and solidifying its position as a global trade hub. The project is estimated to cost around ₹76,000 crores.

The port is designed to provide direct access to international shipping routes, reducing transit times and costs. It is also expected to generate substantial employment opportunities, stimulate local businesses, and contribute to the overall economic growth of the region.

Equipped with cutting-edge technology and infrastructure, the port will feature deep berths, efficient cargo handling facilities, and modern port management systems.

According to the PMO, the project emphasizes sustainable development, focusing on minimizing environmental impact and adhering to stringent ecological standards.