Government to work on starting 'Blue Revolution'

India's fishing industry is placed as the second largest producer of fish across the globe, after China, exporting over 50 different fisheries products to over 75 countries.

Its fish production has increased to 100.7 lakh tonnes last year from a meagre 7.5 lakh tonnes in 1950-51.

USA is the biggest market for Indian fisheries products, followed by South-East Asian countries and the European Union.

The Comprehensive Marine Fishing Policy, 2004 targeted improvement of socio economic status of fisherfolk and those working in the fiseries sector by providing economic incentives.

It aimed at development of fishery both in marine and inland areas.

A panel was constituted to review this policy in 2015, to bring about a new policy with changes in technology aimed at the development of aquaculture.

India's agriculture ministry has proposed to bring into effect a new national policy on fisheries, with schemes involving the private sector for developing and managing fisheries.

The policy, promoting a 'Blue Revolution' will be out next month.

The policy is set to cover marine development and management, and all other undertakings of the National Fisheries Development Board (NFDB) concerned with aquaculture and fisheries.

The government will work towards increasing fisheries exports from Rs.33,441 crore in 2014-15 to Rs.1,00,000 crore over the next five years.

With an outlay of Rs.3,000 crore for five years, Center looks to achieve three-fold increase in export earnings.

A proposal has been made to merge all of the current fisheries schemes that would help increase productivity from fisheries and meet the target.