Centre focuses investments of $9 billion in fisheries sector

The Central government is focusing on investments worth $9 billion within the fisheries sector over the subsequent 5 years. This was revealed by Dr Rajeev Ranjan, Union secretary, ministry of fisheries, whereas talking on 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 said that fisheries export is anticipated to achieve Rs 1 lakh crore by 2024-25 from the present Rs 46,589 crore, a release issued by ICC acknowledged.

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He said that the PM Matsya Sampada Yojana (PMMSY) has been designed to realize this goal and to suffice it ministry of fisheries is anticipating to take fish production to 220 lakh tons by 2024-25 from 138 lakh tons at current. This can even have vital repercussion on the employment creation from the sector, that’s anticipated to be around 55 lakhs by 2024-25 from 15 lakhs at current.

Central Govt authorities have additionally predicted to enhance the standard of life in coastal communities and diversification of the coastal financial system via sustainable livelihood opportunities and inclusive improvement in an built-in method and Rs 750 crore have been allotted towards the same. “One of the major objectives of Matsya Sampada Yojana is to double sea products export to 15 billion dollars by 2024”, stated Dr. Ranjan.

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In the convention, Mr. K. S. Srinivas, chairman, The Marine Products Export Development Authority (MPEDA), acknowledged that fisheries sector is in want of first mile connectivity which incorporates infrastructure improvement; ports, harbours and vessels should be upgraded with expertise intervention such as sterile temperature facility set up, cold chain amenities n order to scale back post-harvest losses and attain the export target.

On the other hand, Dr. Ravi Shankar C.N. Director, ICAR-CIFT, Cochin recommended that fisheries being a state subject, state governments have to come back ahead proactively to implement the insurance policies which have been introduced out by the Union government.

Also, improvement of accountable fishing technologies and low-cost equipment are the necessity of the hour to rework the marine financial system. Dr. K.K. Vijayan, Director, Brackish water Aquaculture (CIBA) said that PPP mode of involvement is required for integrating R&D and aquaculture for transforming the sector.