PM Modi to launch projects worth ₹76,000 crore, address Fintech Fest in Maharashtra on Aug 30

Prime Minister Narendra Modi. (ANI Photo)

Prime Minister Narendra Modi visited Maharashtra on Friday, where he launched projects worth more than ₹76,000 crore in Palghar and addressed the Global Fintech Fest 2024 at the Jio World Convention Centre in Mumbai.

According to a statement issued by the prime minister's office (PMO), Modi’s visit started in Mumbai in the morning. Later in the day, he inaugurated and laid the foundation stone for various development projects at CIDCO ground, Palghar.

In Mumbai

PM Modi first addressed a Special Session at the Global Fintech Fest (GFF) 2024 in Mumbai, which was jointly organised by the Payments Council of India, the National Payments Corporation of India (NPCI), and the Fintech Convergence Council.

The conference featured around 800 speakers, including policymakers, regulators, senior bankers, industry leaders, and academicians from India and abroad, who participated in over 350 sessions.

GFF 2024 also highlighted the latest innovations in the fintech sector, with the launch of over 20 thought leadership reports and white papers providing insights and detailed industry information.

All about projects in Palghar

According to the statement issued by the prime minister's office (PMO), the projects launched in Palghar aimed “to establish a world-class maritime gateway to boost trade and economic growth by accommodating large container vessels, offering deeper drafts, and handling ultra-large cargo ships.”

Vadhvan Port, near Dahanu town in Palghar, is set to become one of India’s largest deep-water ports, providing direct connectivity to international shipping routes, reducing transit times and costs. The port will feature advanced technology, deep berths, efficient cargo handling, and modern port management systems, significantly enhancing India’s maritime connectivity. Vadhvan Port is expected to create employment, stimulate local businesses, and contribute to the region's economic development, with sustainable practices to minimize environmental impact, the PMO said.

PM Modi also inaugurated and laid the foundation stone for 218 fisheries projects worth around ₹1,560 crores, enhancing infrastructure and productivity in the fisheries sector nationwide. These fisheries projects are projected to generate over five lakh jobs in the sector, providing critical infrastructure and inputs to boost fish production and post-harvest management.

The prime minister also launched the “National Rollout of the Vessel Communication and Support system,” which will cost around ₹360 crores and see 1 lakh transponders installed on fishing vessels in 13 coastal states and UTs. Developed by ISRO, this communication system will enhance safety, provide two-way communication for fishermen at sea, and assist in rescue operations.

Other initiatives included developing fishing harbours and Integrated Aquaparks and implementing advanced technologies like “Recirculatory Aquaculture Systems and Biofloc” to improve fisheries productivity.

Modi also laid the foundation for developing and modernizing fishing harbours, fish landing centres, and fish markets, which will improve post-harvest management and hygiene in fish handling.

News Source: https://www.hindustantimes.com/india-news/pm-modi-to-launch-76-000-crore-projects