Centre targets investments worth $9 billion in fisheries sector


The Central government is targeting investments worth $9 billion in the fisheries sector over the next five years. This was revealed by Dr Rajeev Ranjan, Union secretary, ministry of fisheries, while speaking at the ‘e-conference on Innovation for Transforming the Sustainable Marine Economy’ organized by the Indian Chamber of Commerce (ICC) and the ministry of earth science on Friday.

It was also informed that fisheries export is expected to reach Rs 10,00,00 crore by 2024-25 from the current Rs 46,589 crore, a release issued by ICC stated.

He stated that the PM Matsya Sampada Yojana (PMMSY) has been designed to achieve this target and to suffice it ministry of fsheries is expecting to take fish production to 220 lakh tons by 2024-25 from 138 lakh tons at present. This will also have significant repercussion on the employment generation from the sector, that is expected to be around 55 lakhs by 2024-25 from around 15 lakhs at present.


Central government has also envisaged to improve the quality of life in coastal communities and diversification of the coastal economy through sustainable livelihood opportunities and inclusive development in an integrated manner and Rs 750 crore have been allocated toward the same. “One of the major objectives of PMMSY is to double marine products export to USD 15 billion by 2024”, said Dr. Ranjan.

In the conference, Mr. K. S. Srinivas, chairman, The Marine Products Export Development Authority (MPEDA), stated that fisheries sector is in need of first mile connectivity which includes infrastructure development; ports, harbours and vessels need to be upgraded with technology intervention such as sterile temperature facility installation, cold chain facilities n order to reduce post-harvest losses and reach the export target.

On the other hand, Dr. Ravi Shankar C.N. Director, ICAR-CIFT, Cochin suggested that fisheries being a state subject, state governments have to come forward proactively to implement the policies that have been brought out by the Central government.

Also, development of responsible fishing technologies and low-cost machinery are the need of the hour to transform the marine economy. Dr. K.K. Vijayan, Director, Brackish water Aquaculture (CIBA) stated that PPP mode of involvement is needed for integrating R&D and aquaculture for transforming the sector.

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