On November 14, 2024, the Department of Fisheries under India’s Ministry of Fisheries, Animal Husbandry, and Dairying organized the "Investors Meet 2024" at Swaraj Dweep, Andaman & Nicobar Islands, highlighting investment opportunities in the region’s fisheries and aquaculture sector. This high-profile event saw participation from Union Minister of Fisheries, Animal Husbandry & Dairying Rajiv Ranjan Singh, Lieutenant Governor of Andaman & Nicobar Islands Admiral D.K. Joshi, along with other state dignitaries and senior officials.
Investors from across India and overseas, specializing in tuna fishing and seaweed cultivation, joined the event, including Merchant Ventures Pvt. Ltd. from Mumbai, Uday Aqua Connects Pvt. Ltd. from Hyderabad, and Aqualine Exports from Kerala, among others. Their presence underscored the high economic potential within the Andaman & Nicobar’s 6 lakh square km Exclusive Economic Zone (EEZ), which is abundant in valuable tuna species such as Yellowfin and Skipjack. With an estimated 60,000 metric tons of untapped oceanic resources, only a fraction of this capacity, 4,420 metric tons, is currently being harvested. The underutilized resources provide vast room for investment and expansion, positioning the region as a lucrative destination in the global tuna market, valued at over USD 40 billion annually.
Strategically located near Southeast Asia, the islands are perfectly positioned for international trade, boasting efficient routes by sea and air that facilitate exports. The Department of Fisheries has plans to create a Tuna Cluster in the Andaman & Nicobar Islands under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), aimed at boosting investment in critical infrastructure, capacity-building, and investor partnerships. This development will allow Andaman & Nicobar to enhance its production capacities and support the government’s ambitious Rs 1 lakh crore export target for the sector.
Union Minister Rajiv Ranjan Singh highlighted the government’s numerous initiatives, including PMMSY, the Fisheries and Aquaculture Infrastructure Development Fund (FIDF), and the Blue Revolution scheme. These initiatives, backed by investments totaling Rs 38,572 crore since 2015, are transforming the fisheries landscape across India. He expressed gratitude to investors for their active interest, emphasizing that Andaman & Nicobar is on track to become a key player in India’s fisheries exports.
Singh outlined the government’s commitment to promoting sustainable practices, deep-sea fishing, and building state-of-the-art post-harvest processing facilities. These improvements, he noted, would further enhance the region's export capabilities. In addition, the Minister highlighted plans to equip fishing vessels with 1 lakh transponders, ensuring enhanced safety and security for the fishing community.
Lieutenant Governor Admiral D.K. Joshi addressed the region's challenges, such as connectivity limitations with Southeast Asia and delays in trade clearances, as the nearest Marine Products Export Development Authority (MPEDA) and Export Inspection Council (EIC) offices are in Chennai. To resolve these issues, a direct flight linking Andaman & Nicobar with Southeast Asia via Kuala Lumpur will commence on November 16, 2024, streamlining export operations and facilitating direct trade connectivity. With MPEDA and EIC now establishing desks in Port Blair, seafood exports are expected to become more efficient, with faster trade clearances and improved logistics.
Minister of State for MoFAH&D and Minority Affairs George Kurian emphasized the significant prospects for sustainable fisheries and tourism in the Andaman & Nicobar Islands. He noted the abundant resources within the EEZ, urging investors to capitalize on the available resources while adhering to sustainable practices to preserve the pristine marine ecosystem.
The Minister also advocated for advanced technology adoption, including Recirculating Aquaculture Systems (RAS) and Biofloc technology, which help reduce environmental impact while boosting productivity. The government has been actively promoting these technologies to create employment opportunities and improve the economic conditions of the local communities.
Dr. Abhilaksh Likhi, Secretary at the Department of Fisheries, highlighted the exceptional growth within India’s fisheries sector, which saw record-high exports in 2023-24. He called for greater private sector engagement, particularly in areas like sea cage culture and marine ornamental fisheries, which hold immense potential for both economic growth and biodiversity conservation. The Secretary reiterated the Department’s commitment to sustainable growth and digitization within the sector, envisioning a robust fisheries framework that leverages advanced technology to enhance productivity and post-harvest efficiency.
The Investors Meet 2024 fostered a collaborative environment, bringing together fishers, entrepreneurs, industry stakeholders, and government officials. It underscored the region’s capacity to attract significant investments and contribute meaningfully to India’s blue economy. With the government’s continued support, improvements in infrastructure, and the growing interest of private investors, the Andaman & Nicobar Islands are poised to emerge as a prominent center for fisheries and aquaculture in the region, creating jobs, preserving marine biodiversity, and boosting India’s economy through sustainable and responsible fisheries practices.
