The product profile of fish in urban hyper markets is fast getting revolutionised. Companies are storming the market with plant based fish alternatives. They are rightly positioning themselves as leaders striving to comply with SDG 14 of the UN satiating the consciousness of the urban ecology-conscious Indian. We also have companies that manage 60,000 plus fish and shrimp farmers digitally.

The Pradhan Mantri Matsya Yojana (PMMSY), aims to increase fish production to 220 lakh tonne, average annual growth rate of fish production to 9 per cent, fisheries exports to ₹100,000 crore, reduce post harvest losses to 10 per cent and increase employment in the sector to 55 lakh by 2024-25.

Sub-sectors’ scope

It also aims to expand the horizons of specific sub sectors, like seaweed culture and product development, ornamental fish culture and exports, exponentially increasing seafood exports. Infrastructure development in fisheries is also getting a big fillip. Massive budget outlays are enabling structural growth at the ground level. The extension of Kisan Credit Card (KCC) to fisheries sector is a master stroke.

However, there is not much of a technology push that has been built into PMMSY. Private investment in IT-driven fisheries is happening independent of the official big push.

The fisheries sector has already opened up fully to Foreign Direct Investments (FDI). Aquaculture, cage culture technology and re-circulatory and bio-floc systems are most ideal investment avenues for FDI. Core areas of fisheries flagged for PPP mode of development, like harbour, cold storages, landing centres development, could take the FDI route.

Involvement of chambers of commerce is very important to push private investments in the sector. The poultry and meat giants who are keen to enter this sector are constrained by logistics and technology issues such as volumes, timeliness and regularity of delivery to drive the market. Rural electrification is a big concern.

Credit push

The fulcrum of development is credit. The rapid strides in non-banking financial (NBFC) intermediation in agriculture and growth of micro finance companies will greatly benefit the fisheries sector with timely and easy credit.

But NBFCs are yet to tap the opportunities in marine fisheries and inland aquaculture constrained by their poor knowledge of fisheries. India is still a word of mouth country. Farmers adopt practices that are recommended by their brethren. Digital extension has been successful in agriculture. But for small scale (potential) fish farmers, especially those in the hinterlands, the PMMSSY still remains unknown. Banking correspondents can be trained to disseminate information about PMMSY to expand its reach among small fishers.

Only 1,13,076 KCCs have been sanctioned for the fisheries sector (October 2022) out of 20 million marginal fishers identified for direct income support. The post office banking system should be used for the rapid spread of the KCC. If banks can sell insurance products, post office banking system can definitely support KCC in the hinterlands.

Aquaculture of high value species is a high technology, management intensive and investment heavy enterprise. Expecting the small holders to push production to the targets set is shortsightedness.

Private investments in such areas of hi-tech aquaculture should lead the way, including the local population in their HR profile. Technology in fisheries production, product development and marketing needs to be closely followed. Plant based fish and cellular based seafood could have a cataclysmic impact on structure of employment in the sector as the level of education across the country improves. An inclusive approach of the official line with the tech line of the private sector could help PMMSY pip the post.

The writer Former Principal Scientist & Head, ICAR – Central Institute of Fisheries Education

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