Experts are convinced that the development of deep sea fisheries, particularly mesopelagic resources, could see a mighty transformation in the seafood industry and coastal communities are bound to reap its benefits.
7.1 million tonnes of harvest potential is estimated in the Exclusive Economic Zone, compared to the current catch of approximately 4 million paving way towards significant opportunities for sustainable fishing practices in deeper waters.
Towards strengthening the fisheries sector and tapping into its vast unexplored potential, Indian Minister for Finance , Ms Nirmala Sitaraman, has declared solid plans to foster the Fisheries sector with an additional impetus on the Andaman & Nicobar as well as Lakshadweep Islands.
Mr Grinson George, Director of the Central Marine Fisheries Research Institute (CMFRI), said efforts to create an enabling framework for harvesting marine resources in the EEZ and high seas are expected to boost India’s blue economy augmenting the sustainable utilisation of off-shore fisheries potential. While current fishing activity is predominantly within the 12-nautical mile territorial waters, vast underutilised resources exist beyond this limit.
Deep-sea fisheries have significant potential for commercial value. Mesopelagic resources (200-1000 meters), including myctophids, are among the world’s most abundant yet largely unexploited fish resources. These mesopelagic fishes, rich in fatty acids and lipids, present significant potential for industrial, pharmaceutical, and nutraceutical applications.
The protein content in some deep sea mesopelagic species can be effectively utilised for fish meal production.
T Pradeep Kumar, Vice Chancellor of Kerala University of Fisheries and Ocean Studies started that the budgetary allocations will speed up the fisheries development, especially when the Government intends to increase the export revenue to Rs One lakh crore.
Although highly resourceful, the Andaman and Lakshadweep islands remained underutilised for a long time. The scientific steps to encourage fisheries’ resource utilisation can change the economic and social scenario of the Indian coastal communities.
Depleting ocean catch has been a source of worry for fishermen and seafood exporters. Measures to enhance ocean catch and sustain marine flora and fauna are the need of the hour, says K.N. Raghavan, secretary general of the Seafood Exporters Association of India.
Nithin Awasthi of InCred Equities said the efforts to streamline shrimp exports and reduce customs duties on essential inputs (hatchery products, feed, and export materials) would significantly lower production costs and improve industry profitability.
Financial support through NABARD and the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) will accelerate shrimp farming and export infrastructure, including Nucleus Breeding Centres for brood-stock development.
Policy initiatives, including duty cuts on key inputs (fish hydrolysate, frozen fish paste), and targeted financing (Rs1,528 crore interest subvention by FY26) aim to strengthen India’s position as a leading seafood exporter, he added.
Analysts at Samco Securities said the Kisan Credit Cards, which provides short-term loans to 7.7 crore farmers, fishermen, and dairy farmers will be continuing.
The beneficiaries of these initiatives include Godrej Agrovet, Apex Frozen Foods, and Avanti Feeds.
Blogger:
Dr. Sathish Prasad
Senior Scientist – Aquatic Animal Health
Growel Innovation Center,
RS NO.57, Chevuru Village, Sriharipuram Panchayat, Mudinepalli Mandal, Krishna District – Andhra Pradesh India – 521329
Email: [email protected]