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States » EastPosted at: Nov 21 2020 7:40PM


Govt targets investments worth USD 9 billion in the fisheries sector over the next 5 years

Kolkata, Nov 21 (UNI) "The government is targeting investments worth USD 9 billion in the fisheries sector over the next 5 years”, said Dr. Rajeev Ranjan, Secretary, Ministry of Fisheries, Govt. of India while speaking at the ‘e-conference on Innovation for Transforming the Sustainable Marine Economy’ organized by the Indian Chamber of Commerce (ICC) and the Ministry of Earth Science, Govt. of India on Friday.
It was also informed that fisheries export is expected to reach INR 100000 crores by 2024-25 from the current INR 46589 crores, He stated that the PM Matsya Sampada Yojana (PMMSY) has been designed to achieve this target and to suffice it ministry of Fisheries is expecting to take fish production to 220 lakh tons by 2024-25 from 138 lakh tons at present. This will also have significant repercussion on the employment generation from the sector, that is expected to be around 55 lakhs by 2024-25 from around 15 lakhs at present.
GOI has also envisaged to improve the quality of life in coastal communities and diversification of the coastal economy through sustainable livelihood opportunities and inclusive development in an integrated manner and INR 750 crores have been allocated toward the same. “One of the major objectives of PMMSY is to double marine products export to USD 15 billion by 2024”, said Dr. Ranjan.
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