The Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry & Dairying, is set to host the “Investors’ Meet 2024: Investment Opportunities in Fisheries and Aquaculture Sector of Andaman & Nicobar Islands” on November 14 at the Taj Exotica in Swaraj Dweep. Key dignitaries, including Union Minister Rajiv Ranjan Singh, and a delegation of 60 investors with expertise in tuna and seaweed technologies, will participate. This landmark event seeks to bolster sustainable fisheries development across the archipelago’s vast 600,000 sq. km. Exclusive Economic Zone (EEZ), rich in underutilized resources such as tuna.
Andaman & Nicobar’s proximity to Southeast Asia positions it as a key player for seafood exports, offering efficient sea and air trade routes. Interactive sessions at the event will promote private-sector growth in infrastructure, technology transfer, skill-building, and industry best practices, with sessions designed to address private-sector challenges and foster collaborations. The event will launch a new video showcasing the region’s future Tuna Cluster, an initiative under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) to develop an end-to-end value chain. This cluster, along with new fish landing, processing, and export infrastructure, aims to maximize tuna’s economic potential and strengthen India’s global competitiveness.
Recognized as a “sunrise sector,” fisheries in India has witnessed substantial investments through initiatives like the PMMSY, the Fisheries and Aquaculture Infrastructure Development Fund, and the Blue Revolution. Since 2015, over ₹38,572 crore has been allocated to develop the sector. Despite global challenges, seafood exports from India have surged, reaching 17.81 lakh tons valued at ₹60,523.89 crore in 2023-24. With a goal to further grow exports to ₹1 lakh crore by 2024-25, the Andaman & Nicobar Islands offer significant investment potential, especially in priority sectors like tuna and seaweed, poised for sustainable growth and job creation in the region.
The Department’s cluster-based strategy, focused on partnerships, technology adoption, and capacity-building, seeks to propel the fisheries sector to new heights, ensuring a sustainable and prosperous future for the Andaman & Nicobar Islands.
