1. Government should double outlay for fishery sector: Assocham

Government should double outlay for fishery sector: Assocham

The government should double the outlay of Rs 3,000 crore for development and management of fisheries sector as there is potential to reach the production of 16 million tonnes by 2020, a latest Assocham study said.

By: | New Delhi | Published: May 23, 2017 5:29 PM
The government should double the outlay of Rs 3,000 crore for development and management of fisheries sector as there is potential to reach the production of 16 million tonnes by 2020, a latest Assocham study said. (Reuters)

The government should double the outlay of Rs 3,000 crore for development and management of fisheries sector as there is potential to reach the production of 16 million tonnes by 2020, a latest Assocham study said. “However, most of the incremental fish production will have to come from aquaculture and ‘Blue Revolution’ will provide necessary impetus in this direction,” Assocham National Secretary General D S Rawat said.

In value terms, the study said that there is potential to reach Rs 1.5 lakh crore in the domestic market and 0.5 lakh crore from exports by 2020. Total domestic fish retail market is forecast to cross Rs 61 lakh crore or almost triple in next 4-5 years and more jobs are likely to be created. “Both direct and indirect employment in entire fisheries sector in India is likely to reach 15.25 million from an estimated 14 million in 2014-15,” Rawat said.

India is endowed with over 8,000 km long coastline, exclusive economic zone of over two million square km of continental shelf, there is scope to increase marine catch, which has turned sluggish lately, the study added.

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