The Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry & Dairying, is organizing the Investors Meet 2024 on Investment Opportunities in the Fisheries and Aquaculture sector of the Andaman & Nicobar Islands. The event will take place at Taj Exotica, Swaraj Dweep, Andaman & Nicobar Islands, in the distinguished presence of Union Minister Shri Rajiv Ranjan Singh alias Lalan Singh, along with Minister of State Shri George Kurian, Minister of State Prof. S.P. Singh Baghel, Admiral D K Joshi (Retd.), Lieutenant Governor of Andaman & Nicobar Islands, and other prominent dignitaries. The event will also see participation from officials of the Department of Fisheries, State/UT Fisheries Departments, scientists, and approximately 60 investors specializing in Tuna and Seaweed technologies from across the country.
The Andaman and Nicobar Islands offer a unique opportunity for fisheries development, with a vast Exclusive Economic Zone (EEZ) covering around 6.0 lakh square km, rich in under-exploited sea resources, particularly Tuna and similar high-value species, estimated at 60,000 metric tons. The region’s proximity to Southeast Asia provides efficient access for sea and air trade, while its pristine waters support sustainable fishing practices. With effective administrative measures in place, the region is well-positioned to leverage its marine resources for significant economic growth. The Investors’ Meet 2024 serves as a platform for knowledge exchange, networking, and business exploration, with a focus on public-private partnerships for sustainable growth in fisheries and aquaculture. The event will feature presentations, B2B and B2G interactions, and strategic discussions to promote investments in infrastructure, technology transfer, skill development, and innovation. Interactive sessions will also address private sector challenges, showcase best practices, and foster Southeast Asian networking for new business opportunities and trade synergies in the sector. Additionally, the event will include the launch of a video on the development of a Tuna Cluster in the Andaman & Nicobar Islands.
The fisheries sector, recognized as a “Sunrise Sector,” is a critical driver of India’s economy, contributing significantly to national income, exports, and food security, particularly in rural areas. The Government of India has made substantial investments in the sector through initiatives like PMMSY, FIDF, and the Blue Revolution, amounting to ₹38,572 crore since 2015. In 2023-24, India exported 17.81 lakh tons of seafood worth ₹60,523.89 crore, a significant increase of 100% from FY 2013-14. Seafood exports have grown at an average annual rate of 14% over the last decade, with the USA being the largest overseas market.
The Department of Fisheries aims to boost exports to ₹1 lakh crore by 2024-25, creating valuable investment opportunities, particularly in the Andaman & Nicobar Islands. This initiative seeks to enhance exports and generate employment in the region, with a focus on sustainable growth and maximizing the economic potential of key resources such as tuna and seaweed. The Department is adopting a cluster-based approach to foster growth in fisheries and aquaculture, and the recent notification for the development of a Tuna Cluster in the Andaman and Nicobar Islands under PMMSY reflects this commitment. The initiative aims to attract investments, build partnerships with tuna-fishing nations, and implement training and capacity-building programs. It also envisions developing infrastructure for fish landing, processing, and export connectivity to enhance global competitiveness and streamline operations.
