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The investors outlined several issues including transportation of the production to the mainland, cold storage requirement, ice plants, and development of chilled fish handling centres etc
The Department of Fisheries, Ministry of Fisheries, Animal Husbandry & Dairying (MoFAHD), Government of India, in collaboration with the UT Administration of Lakshadweep, recently organised the Investors’ Meet on “Investment Opportunities in Fisheries and Aquaculture Sector of Lakshadweep Islands” at Bangaram Island, UT of Lakshadweep. So far, approximately, Rs 519 crore worth of investment has been envisaged.
The event was graced by Union Minister Rajiv Ranjan Singh, Ministry of Fisheries, Animal Husbandry & Dairying and Ministry of Panchayati Raj; Ministers of State Prof SP Singh Baghel, MoFAH&D and Panchayati Raj; and George Kurian, MoFAH&D and Minority Affairs; and Praful Patel, Hon’ble Administrator of Lakshadweep.
During the meet, an interactive session was held to provide platforms to the Investors to share experiences and highlight challenges. The investors outlined several issues including transportation of the production to the mainland, cold storage requirement, ice plants, and development of chilled fish handling centres for post-harvest management. The Investors called for value addition facilities for sashimi-grade tuna, fish oil refining capacities, requirement of skilled labour, ornamental fish brood banks for the strategic utilization of Lakshadweep’s EEZ to drive sustainable growth.
In his keynote address, Union Minister FAHD&PR Rajiv Ranjan Singh said that the Government of India issued fishing rules for the Exclusive Economic Zone (EEZ) therefore the fishermen operating in India’s EEZ can now legally fish with an authorised ‘Access Pass,’ enabling them to export high-value tuna and other fish products to international markets. As per international law, fishery resources present in India’s EEZ will now be recognised as “Indian Origin,” which will further facilitate the export of fish products, he added.
Minister of State, FAHD&PR Prof SP Singh Baghel in his address highlighted Lakshadweep’s untapped fisheries potential, called for the need to bridge the gap between Lakshadweep’s current production of 14,000 tonnes and its potential of 1 lakh tonnes. He emphasized that the islands are naturally suited for premium-quality tuna fishing using pole-and-line and handline methods are globally recognized for their clean and sustainable practices. With proper branding, certification, and modern value-chain development, Lakshadweep tuna can access high-end international markets. He urged exporters to explore newer markets and leverage existing Government welfare schemes to strengthen the fisheries value chain.
Minister of State, FAHD&MA George Kurian focussed on emerging investment domains such as seaweed farming and ornamental fisheries, which offer high returns and diversification opportunities.