There is a need to for the fisheries sector to focus on domestic market consumption along with exports, deploying more scientific methods of production, said Parshottam Rupala, Minister of Fisheries, Animal Husbandry and Dairying.
Realising the sector’s potential, the Government has committed to a national target to increase fish production to 22 million metric tons by 2024-2025, which will have a positive impact on 28 million fishers and fish farmers and almost twice that number along fish-related value chains, the minister said at an event organised by Confederation of Indian Industry in collaboration with the Ministry of Fisheries, Animal Husbandry and Dairying, National Fisheries Development Board and the Marine Products Export Development Authority on “Showcasing India as a hub for Aquaculture and fisheries Investment” on January 21, 2022.
“(At present) 74% of India’s export is shrimp; however the share of value added products is low at 7%. Thus, there is a huge scope to increase value added exports and in tandem increase price points for fishermen. Towards this, India must focus on strengthening seed quality and availability, smart farming and food safety standards,” Rajnikant Rai, Chief Executive, Agri Businesses Division, ITC said.
Indian Fisheries and Aquaculture sector registering an average annual growth of 7.53% during last 5 years. The country exported 12.89 lakh metric tons of fisheries products valued at Rs 46,662 crore (USD 6.68 billion) during 2019-20.
“Technology will allow wastelands to be converted to wetlands and thus drive up production towards reaching the target; and also unlock new avenues of investment in high demand segments such as seaweed farming,” Dr L Murugan, Minister of State for Fisheries, Animal Husbandry and Dairying said.
The Fisheries and Aquaculture Infrastructure Development Fund (FIDF) has been set up with a fund size of Rs 7,522.48 crore towards creation of fisheries infrastructure facilities both in marine and inland fisheries sectors and augment the fish production.
Further, the Pradhan Mantri Matsya Sampada Yojana (PMMSY) was launched with an allocation of Rs 20,050 crore, the highest ever investment for fisheries sector. The PMMSY will be implemented over a period of 5 years from FY 2020-21 to FY 2024- 25 in all States/Union Territories. As of January 2022, proposals worth Rs 5,234 crore have been sanctioned, impacting around 16 million beneficiaries.
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