Vadhvan Port is set to become the largest deep-water port in India, backed by an investment of Rs 76,220 crore.
New Delhi:
On Friday, Prime Minister Narendra Modi inaugurated the construction of the Vadhvan Port, which is anticipated to enhance India’s trade significantly due to its strategic position and capacity. Located in Palghar, Maharashtra, Vadhvan Port is set to become India’s largest deep-water port with an investment of Rs 76,220 crore.
The port is expected to improve India’s connectivity with Central Asia and Russia while facilitating trade through the International North-South Transport Corridor (INSTC) and the India-Middle East-Europe Economic Corridor. It is projected to alleviate some of the strain on Jawaharlal Nehru Port, currently the largest container port in India.
According to government estimates, the port will be transformative for Maharashtra’s economy, contributing over one percent to the state’s GDP and fostering regional development. It will also link to the Dedicated Freight Corridors associated with the Delhi-Mumbai Industrial Corridor, ensuring quicker and more efficient cargo transportation.
The government anticipates the project to create around 1.2 million direct jobs and over 10 million indirect jobs. From its inception, the port has been designed as a green port, promoting economic growth while prioritizing environmental sustainability in line with India’s blue economy. It is expected to drive economic and social advancements for coastal communities and the broader Maharashtra region.
Prime Minister Modi referred to the Vadhvan Port project as a “very special project,” emphasizing its role in India’s development and asserting that it will solidify Maharashtra as a “powerhouse of progress.”
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