Govt Highlights Investment Opportunities in Fisheries at Andaman & Nicobar Investors Meet 2024

Port Blair: The Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry & Dairying, hosted the Investors Meet 2024 on “Investment Opportunities in Fisheries and Aquaculture of Andaman & Nicobar Islands” today at Swaraj Dweep, Andaman & Nicobar Islands. The event featured Union Minister of Fisheries, Animal Husbandry & Dairying, Rajiv Ranjan Singh, Lieutenant Governor Admiral D K Joshi, and other prominent officials, along with investors specializing in tuna fishing, seaweed farming, and aquaculture technology from across the country and abroad.

The meet underscored the potential of the Andaman & Nicobar Islands as a key hub in India’s blue economy, particularly in the global tuna market valued at over $40 billion. With an Exclusive Economic Zone (EEZ) spanning 6 lakh square kilometers and a largely untapped capacity of 60,000 metric tons of high-value tuna species, the islands present a significant opportunity for investment in tuna fisheries and aquaculture infrastructure. Union Minister Rajiv Ranjan Singh emphasized that this region could soon become a major fisheries export hub, providing extensive opportunities for private investment and trade partnerships, particularly with Southeast Asia.

Outlining the government’s vision, the Union Minister detailed transformative initiatives like the Pradhan Mantri Matsya Sampada Yojana (PMMSY) and Fishery Infrastructure Development Fund (FIDF), through which ₹38,572 crore has been invested since 2015. These programs aim to modernize the sector with deep-sea fishing and advanced post-harvest facilities to support India’s ambitious target of reaching ₹1 lakh crore in fisheries exports. Singh emphasized the potential of the Andaman & Nicobar Islands to contribute to these targets with its rich resources and strategic location near Southeast Asia.

Addressing key logistical challenges, Lieutenant Governor Admiral D.K. Joshi announced the launch of a direct flight connecting Andaman & Nicobar Islands with Southeast Asia on November 16, 2024, improving trade connectivity. Additionally, MPEDA and EIC have set up desk offices in Port Blair to expedite trade clearances, making the islands a more favorable base for seafood exports. “The inaugural export consignment will depart on the return flight,” Admiral Joshi shared, illustrating the government’s commitment to optimizing trade infrastructure.

Minister of State for MoFAH&D and Minority Affairs George Kurian highlighted the island’s pristine environment and abundant marine resources, urging sustainable use of the region’s fisheries and tourism potential. The islands’ location near Southeast Asia provides efficient trade routes for high-value species like Yellowfin and Skipjack tuna, making it ideal for private sector investment.

In his address, Prof. S.P. Singh Baghel, Minister of State for MoFAH&D and Ministry of Panchayati Raj, spoke about the job opportunities and livelihood benefits that the fisheries sector can bring to the islands. He pointed to advancements like Recirculating Aquaculture Systems (RAS) and Biofloc technology, which have strengthened the sector, as well as government initiatives to enhance safety by installing transponders on fishing vessels to protect against climate-related challenges.

Secretary of Fisheries, Dr. Abhilaksh Likhi, highlighted record-high marine exports in 2023-24, noting that the Andaman & Nicobar Islands could further boost production and diversify offerings through innovations in sea cage culture and marine ornamental fisheries. The Secretary called for private investment in these underdeveloped areas to ensure sustainable growth, equitable development, and increased biodiversity conservation.

The event brought together fishers, fish farmers, entrepreneurs, and government officials, providing a platform to explore emerging trends and network with stakeholders. The gathering reflects the government’s ongoing efforts to unlock the full potential of the Andaman & Nicobar Islands in building a robust and sustainable blue economy.