Thiruvananthapuram: Prime Minister Narendra Modi on Friday inaugurated the Vizhinjam International Seaport in India, which is the country's first transsphipment hub. PM Modi said that in the future coastal cities will be center of India's economic growth. He lauded the Adani Group for building the Vizhinjam Port. 

Here's what PM Modi said at the inaugural event of the Vizhinjam Port: 

PM Modi mentioning the presence of Kerala CM Pinarayi Vijayan and Congress leader Shahshi Tharoor in the opening event said that this will leave many sleepless, hinting at the leaders of the  INDIA bloc. 

"The full potential of the port economy is realized when infrastructure development and ease of doing business are prioritized 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."

"Before the era of slavery, 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."

"This 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% 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.