The Centre’s Department of Fisheries, is organising an investors’ meeting to offer opportunities in the fisheries and aquaculture sector of the Andaman & Nicobar Islands on November 14 which will be attended by around 60 Investors from various parts of the country specialising in technologies related to Tuna and Seaweed.

An official statement issued on Wednesday said that Andaman and Nicobar Islands offer a prime opportunity for fisheries development, with around 6.0 lakh square km of Exclusive Economic Zone (EEZ) rich in under-exploited sea resources, particularly Tuna and Tuna like high valued species, estimated at 60,000 metric tons.

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It said that their proximity to Southeast Asian countries enables efficient sea and air trade, while the pristine waters support sustainable fishing practices.

The meeting will be held at Taj Exotica, Swaraj Dweep, Andaman & Nicobar Islands in the presence of Union Minister Rajiv Ranjan Singh alias Lalan Singh, Ministry of Fisheries, Animal Husbandry & Dairying and George Kurian, Minister of State. Senior officials of the ministry and the Andaman & Nicobar Islands will also participate in the event.

“The Investors’ Meet 2024 in the Andaman & Nicobar Islands offers a platform for knowledge exchange, networking, and business exploration, with sessions to promote public-private partnerships for sustainable growth in fisheries and aquaculture,” the statement said.

The event includes lead presentations, B2B and B2G interactions, and strategy planning, aiming to drive investments in infrastructure, technology transfer, skill development, and innovation.

Interactive sessions will highlight best practices, address private sector challenges, and foster Southeast Asian networking to explore new business opportunities and trade synergies in the sector.

In addition, the event will also mark the launch of a video for the development of a Tuna Cluster in Andaman & Nicobar Islands.

The fisheries sector recognised as the “Sunrise Sector” is a key growth driver in India’s economy and plays an essential role in enhancing national income, exports and food security, particularly benefiting rural areas.

Over the past decade, the Government of India has led the sector’s transformation through flagship initiatives like PMMSY, FIDF, and the Blue Revolution, with an unprecedented investment of Rs 38,572 crore since 2015.

India exported 17.81 Lakh Tons of seafood worth Rs 60,523.89 crore during 2023-24. The seafood exports of India have more than doubled since FY 2013-14, an increase of 100 per cent despite pandemic-imposed challenges in global markets. Indian seafood is exported to 129 countries with the largest overseas market being the USA. This has resulted in tremendous progress in seafood exports, which has increased with an average annual growth rate of 14 per cent in the last 10 years.

The Department of Fisheries envisages to enhance fisheries exports to Rs 1 lakh crores by 2024-25. This initiative presents valuable opportunities for investors in the Andaman & Nicobar Islands (A&N). This initiative aims not only to increase exports but also to create significant employment opportunities in the Andaman & Nicobar Islands.

Key resources like tuna and seaweed are among the priority sectors for development, with a focus on fostering sustainable growth and maximising the region’s economic potential.

The Department of Fisheries is increasing its efforts in the adoption of a cluster-based approach with an end-to-end value chain to drive growth in fisheries and aquaculture.