The first-ever investors’ meet in Lakshadweep Islands has seen INR 519 crore worth of planned investment to unlock fisheries and aquaculture potential
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NEW DELHI — The first-ever investors’ meet in Lakshadweep Islands has seen INR 519 crore worth of planned investment to unlock fisheries and aquaculture potential, according to the government.
The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying (MoFAHD), in collaboration with the Union Territory of Lakshadweep, organised the investors’ meet.
Union Minister Rajiv Ranjan Singh said that the government issued fishing rules for the Exclusive Economic Zone (EEZ), therefore the fishermen operating in 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 said at the event.
Singh stated that the government also issued the ‘High Seas Fishing Guidelines’ granting fishing vessels flying the Indian flag the legal right to operate in these waters.
He urged investors to come forward and seize the vast investment opportunities in the Islands, which have immense potential for high-value species such as tuna, in strong global demand.
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.
They called for value addition facilities for sashimi-grade tuna, fish oil refining capacities, requirement of skilled labour, ornamental fish brood banks for the strategic utilisation of Lakshadweep’s EEZ to drive sustainable growth.
Minister of State S.P. Singh Baghel 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 emphasised that the islands are naturally suited for premium-quality tuna fishing using pole-and-line and handline methods are globally recognised for their clean and sustainable practices.
Baghel urged exporters to explore newer markets and leverage existing government welfare schemes to strengthen the fisheries value chain.