The 2.32 km bridge, including 900 metres of central double span cable-stayed portion, will be constructed at a cost of Rs 962.43 crore.
"There were lots of possibilities of development in the tourism sector here, but earlier the UPA government had an indifferent attitude towards Gujarat because of the BJP government in the state... I clearly remember," PM Modi said at a public gathering, referring to his days as Gujarat chief minister.
Terming the bridge a link between the old and new Dwarka, he said it would benefit the people of Beyt (island) Dwarka and devotees.
The prime minister is on a two-day visit to the state, beginning today.
The four-lane 27.20 metre wide bridge will have 2.50 metre wide footpaths on each side. Solar panels installed on the roof of footpath will produce 1 MW power for street lights on the bridge, officials said.
At present, devotees visiting the Shri Dwarkadhishji temple at Beyt Dwarka can travel only during the day by ferry.
Once the bridge is constructed, they can travel any time of the day.