Page 46 - BANKING FINANCE MARCH 2024

ARTICLE

marginalized and vulnerable communities and has about 1.09% to the country's Gross Value Added (GVA) and
contributed towards socio-economic development. over 6.724% to the agricultural GVA. Export earnings from
the Fisheries sector has been recorded as Rs.57,586.48 crore
Some of the important facts about Fisheries in India are as during 2021-22. The sector provides livelihood support to
under: about 25 million people at the primary level and almost
The sector has reached record fish production of 16.25 twice the number along the value chain and the annual
MMT in the financial year 2021-22 average growth rate in the fisheries sector has been 7%
Garnered 4.54 million dollars from export of over the last few years. The sector has immense potential
Ornamental fishes in the financial year 2021-2022. to double its exports, it is essential that sustained and
focused attention is given to the fisheries sector through
So far, 1,548 total fish landing centers were established
policy and financial support to accelerate its development
678 cold storages with in which 45 Chilled Storages and in a sustainable, responsible, inclusive and equitable manner.
93 Dry Fish Storages and 627 processing plants are
existing Obstacles for further growth of Fisheries

India has 7,516 kilometres of coastline sector
3,827 fishing villages. Despite rapid growth in total fish production, an
individual fish farmer's average annual production is only
India's fresh water resources consist of 1,95,210
2 tonnes
kilometres of rivers and canals, 29 lakh hectares of minor
and major reservoirs, 24 lakh hectares of ponds and In India, fishing and selling of critically endangered fish
lakes, and about 8 lakh hectares of flood plain wetlands species are banned.
and water bodies. Annual fishing (trawling) ban is done during the monsoon
season for breeding and spawning of fish species.
Fisheries sector plays an important role in the Indian Inadequate Mechanization: The marine capture fishery
economy. It contributes to the national income, exports, is largely comprised of small fishermen operating
food and nutritional security as well as employment traditional boats.
generation. Fisheries sector is recognized as the 'Sunrise
The large catch spoils due to a lack of refrigeration
Sector' and has demonstrated an outstanding growth rate.
facilities.
Fisheries and aquaculture continue to be an important
Indian fishermen sometimes get captured by the navies
source of food, nutrition, income and livelihood to millions
of people. of Sri Lanka and Pakistan.
Initiatives by Government to harness
The below table shows contribution of GVA by Fisheries to
National GVA Fisheries sector
(Rupees in crores) The Fisheries sector has immense potential to double the

Year GVA of Fisheries National GVA income of fishers and fish farmers as envisioned by the
Government of India in economic prosperity.
2016-17 99,627 1,13,28,285
2017-18 1,14,248 1,20,74,413 Blue Revolution was launched in December 2015 as a
2018-19 1,28,011 1,28,03,128 Centrally Sponsored Scheme with an outlay of Rs.3000 crores
for 5 years (2015-16 to 2019-20) to enhance integrated,
(Source: National Statistical Office, Ministry of Statistics and responsible and holistic development and Management of
Programme Implementation, GoI) Fisheries sector.The Blue Revolution scheme includes the
following components:
India is the third largest fish producing country in the world 1. The National Fisheries Development Board (NFDB) and
accounting for 8% of global production and contributing its activities

42 | 2024 | MARCH | BANKING FINANCE