National Conference on Fisheries and Aquaculture Insurance: A Milestone in Strengthening Fisheries Sector

New Delhi: In a significant development, the National Conference on Fisheries and Aquaculture Insurance was held today at PUSA, New Delhi, chaired by Shri Parashottam Rupala, the Minister of Fisheries, Animal Husbandry & Dairying. The conference, conducted in a hybrid mode, marked a crucial step towards enhancing the insurance coverage and risk management in India’s fisheries sector. Shri Rupala distributed Group Accident Insurance Scheme (GAIS) cheques of Rs 5 lakh each to identified beneficiaries and urged stakeholders to contribute inputs for formulating guidelines on vessel insurance schemes.

The conference, attended by eminent dignitaries including Dr. Abhilaksh Likhi, Secretary, DoF, and Shri Sagar Mehra, Joint Secretary, witnessed insightful discussions on various aspects of fisheries and aquaculture insurance. Shri Rupala emphasized the success of the Group Accident Insurance Scheme and urged for similar achievements in crop insurance and vessel insurance for the benefit of the fishing community. The Minister also highlighted the impact of climate change on the sector and encouraged stakeholders to consider these challenges while devising new schemes.

During the event, Shri Rupala distributed GAIS cheques to beneficiaries from Telangana and interacted with beneficiaries from various regions, gaining valuable feedback on the smooth and hassle-free insurance process. The Secretary, Dr. Abhilaksh Likhi, outlined plans to study successful insurance models for fishermen in countries like Japan and the Philippines, adapting their experiences to local conditions. He stressed the government’s commitment to promoting vessel insurance schemes and mentioned ongoing reviews of crop insurance schemes to build trust with the fishing community.

Shri Sagar Mehra, Joint Secretary (Inland Fisheries), discussed the department’s ongoing initiatives and programs for insurance and risk management, emphasizing the need for spreading awareness about the advantages of insurance among fishers and fish farmers. Industry experts, including Ms. Suchitra Upare from the Food and Agriculture Organization, New York, USA, and Dr. Shinoj Parappurathu and Dr. T Ravishankar, shared valuable insights into global experiences and best practices in fisheries/aquaculture, marine fisheries insurance, and shrimp insurance.

The conference saw the participation of private insurance entities such as ICICI Lombard General Insurance Co Ltd and Oriental Insurance Company Ltd. Experts from these entities provided insights into parametric insurance and risk mitigation management through insurance in fisheries. The event aimed to foster partnerships, encourage collaborative initiatives, set research and development goals, inspire farmers and fishers to embrace insurance coverage, and boost adoption rates of fisheries insurance within the community.

The Aquaculture & Vessels Insurance Conference, attended by diverse stakeholders, envisioned a comprehensive approach to fortify and expand the reach of insurance in the fisheries sector. The event served as a platform for productive deliberations, helping develop an implementation framework, collaborative efforts, and innovative solutions to make insurance packages more affordable and attractive for fishers and aquaculture farmers.