National Fisheries Development Board, Invest India Host Vertical Focused Industry Roundtables in Hyderabad

National Fisheries Development Board and Invest India recently co-organized focused industry roundtables in Hyderabad. These roundtables, chaired by the Joint Secretary of the Department of Fisheries, Ministry of Fisheries, Animal Husbandry, and Dairying, brought together prominent production and processing companies, along with industry associations and autonomous bodies that contribute to the value chain.

India's fisheries industry has experienced remarkable growth in production and exports, attributed to the dedicated efforts of stakeholders across the value chain. The Indian government is actively working to tap into the sector's potential and has been rolling out initiatives to foster its holistic development.

The Department of Fisheries is at the forefront of transforming Indian fisheries and aquaculture while promoting entrepreneurship and ease of doing business within the sector. Aligned with the vision of the Prime Minister, the Project Development Cell (PDC) has been established across various Ministries and Departments, including the Department of Fisheries.

The primary aim of the PDC is to expedite investments, facilitate the creation of viable projects, resolve issues, and guide both investors and investees. This initiative is supported by a dedicated team from Invest India. The collaborative efforts of the PDC, the Department of Fisheries, and Invest India have led to engaging interactions with stakeholders across the value chain. These discussions have delved into company-specific investment plans, challenges faced, and solutions that can contribute not only to sectoral growth but also to the overarching objectives of enhancing fish farmers' income, boosting employment opportunities, and increasing exports.

The Chief Executive of the National Fisheries Development Board highlighted the comprehensive initiatives undertaken by the Indian government, including the Blue Revolution, Fisheries and Aquaculture Infrastructure Development Fund (FIDF), and the Pradhan Mantri Matsya Sampada Yojana (PMMSY). He also emphasized the significance of capacity-building initiatives to enhance production in the fisheries and aquaculture sector.

During the roundtable discussions, the participating companies articulated their perspectives on vital improvements within the fisheries value chain. These discussions encompassed topics such as traceability, strengthening export markets, strategies for augmenting domestic consumption, and enhancing the overall ecosystem of the sector.

The Joint Secretary of the Department of Fisheries, in his keynote address, underscored the pivotal role of production verticals in maintaining the quality, quantity, and diversity of aquatic products for both domestic and international markets. He advocated for the establishment of a robust processing ecosystem involving all stakeholders, from the point of catch to the end consumer, in order to cultivate an organized market within the fisheries and aquaculture sector.

Wrapping up the productive roundtable sessions, the Joint Secretary expressed gratitude to the business community and industry associations for actively sharing their insights. He acknowledged their contributions in shedding light on investment prospects within the flourishing fisheries and aquaculture sector.