Elevating India’s maritime prowess, Prime Minister Narendra Modi laid the foundation stone of the largest deep-water port, Vadhvan, worth around Rs 76,000 crores in Maharashtra’s Palghar district on Friday.
Vadhvan Port Project aims to establish a world-class maritime gateway that will boost the country’s trade and economic growth by catering to large container vessels, offering deeper drafts, and accommodating ultra-large cargo ships. It also aims to boost India's trade in many aspects because of its strategic location and capacity.
India's upcoming Vadhvan Mega Port is set to significantly enhance the nation's connectivity with Central Asia and Russia, boosting trade through the International North-South Transport Corridor (INSTC) and the newly established India-Middle East-Europe Economic Corridor. The port is also expected to relieve some of the pressure on Jawaharlal Nehru Port, India's largest container-handling port.
According to government projections, the port is poised to become a key driver of Maharashtra's economy, contributing over one percent to the state's GDP and fostering regional growth and development. With its integration into the Dedicated Freight Corridors and the Delhi-Mumbai Industrial Corridor, the port will ensure faster and more efficient cargo transport.
The Vadhvan Mega Port is being developed in two phases, featuring state-of-the-art facilities. Once the second phase is completed, the port will have the capacity to handle 23.2 million TEUs (twenty-foot equivalent units), the standard measurement for cargo volume in shipping containers.
On the employment front, the government estimates that the port will create around 1.2 million direct jobs and over 10 million indirect jobs. Conceived as a green port from the outset, the project is designed to balance economic growth with environmental sustainability, contributing to India's blue economy. The port is also expected to drive social and economic development in coastal communities and across Maharashtra.
In addition to enhancing India's maritime connectivity, the port will solidify the country's role as a global trade hub. The Vadhvan Mega Port is scheduled to become operational by 2030.
Prime Minister Narendra Modi has hailed the Vadhvan Port project as a "very special project" that will play a crucial role in India's development. He further stated that the project will reaffirm Maharashtra’s position as a "powerhouse of progress."