Business News | PM Modi Chairs Meeting of Fisheries Sector to Boost Seafood Exports
Get latest articles and stories on Business at LatestLY. The plans are to advance the Fisheries sector while focusing on deep-sea fishing and seafood exports.This comes days after the Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry and Dairying, unveiled Rs 255 Crores worth of fisheries projects on April 28 in Mumbai.
New Delhi [India], May 15 (ANI): Prime Minister Narendra Modi on Thursday chaired a meeting to review the progress and future plans of the Fisheries sector.
The plans are to advance the Fisheries sector while focusing on deep-sea fishing and seafood exports.This comes days after the Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry and Dairying, unveiled Rs 255 Crores worth of fisheries projects on April 28 in Mumbai.
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For this, the ministry organised "Coastal States Fisheries Meet: 2025", where Union Minister Rajiv Ranjan Singh inaugurated and laid the foundation for key projects for seven coastal states and UTs with a total outlay of Rs 255.30 crores under Pradhan Mantri Matsya Sampada Yojana (PMMSY), underscoring the commitment of the government for advancing the fisheries sector in the coastal states and UTs.
The fisheries sector in India plays a crucial role in supporting rural livelihoods and contributing to the country's national economy.
With a vast coastline and an Exclusive Economic Zone (EEZ) of 2.02 million square kilometres, India boasts rich marine resources. The marine fisheries sector in India harbours significant potential, estimated at 5.31 million tonnes.
Coastal states and Union Territories, which include around 3,477 coastal fishing villages, produce 72 per cent of the country's total fish production and account for 76 per cent of India's total seafood exports.
The Ministry also launched a set of key initiatives aimed at strengthening marine fisheries and promoting sustainable practices, including the Marine Fisheries Census Operations, the Turtle Excluder Device (TED) project, and the release of the Standard Operating Procedure for the Vessel Communication and Support System.
India is the second largest fish producing country with around 8 per cent share in global fish production. Over the past two decades, India's fisheries sector has witnessed significant growth and transformation.
From technological advancements to policy reforms, the period from 2004 to 2024 has been marked by milestones that have bolstered India's position in global fisheries and aquaculture. The Union Budget 2025-26, proposed the highest ever total annual budgetary support of Rs. 2,703.67 crores for the fisheries sector. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)