'Some will lose sleep over today's event': Shashi Tharoor on stage, PM Modi takes veiled jibe at Congress with an Adani reference

The port, which was developed by Adani Ports and SEZ Ltd under a public-private partnership, is positioned to emerge as a critical transhipment hub in international maritime trade. "I was listening to the minister speak a while ago. He referred to Adani as a partner of the government. This is a minister of a communist government who is saying that the private sector is a partner of the government. This is New India," said PM Modi. "People in Gujarat will realise that Adani built such an impressive port in Kerala, but not one like it in Gujarat, despite working there for 30 years. He will have to face their anger."

PM Modi further said that the seaport has been constructed at a cost of Rs 8,800 crore, and its transshipment hub capacity is set to triple in the near future.

"It is designed to accommodate large cargo ships, addressing a critical need. Until now, 75 per cent of India's transshipment activities were conducted at foreign ports, resulting in significant revenue losses for the country." "However, this is poised to change. The funds previously spent abroad will now be channeled into domestic development, creating new economic opportunities for the people of Vizhinjam and Kerala, ensuring that the nation's wealth directly benefits its citizens," he said.

The PM also referred to the era before slavery and said that India flourished with prosperity for thousands of years. "At one point, it held a significant share of the global GDP. What set India apart from other nations during that time was its impressive maritime capabilities and the thriving economic activity in its port cities. Kerala, in particular, played a major role in this success," he said.

PM Modi also said that the full potential of the port economy is realised when infrastructure development and ease of doing business are prioritised and promoted. "Over the past decade, this approach has been the cornerstone of the government's port and waterways policies. Significant strides have been made in advancing industrial activities and driving the holistic development of the state," he said.