Scheme is expected to improve quality of fish and expand markets
By Arun Kumar Shrivastav
The Narendra Modi government has approved fisheries projects worth Rs 8666.28 crore under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) over the past four financial years. It marks an important step towards the formalization and modernization of India's fisheries sector. This was revealed by Union Fisheries Minister Rajiv Ranjan Singh in the Rajya Sabha today.
The funds will be utilized for a range of activities including aquaculture, reservoir cage culture, seaweed cultivation, and development of fishing harbours and markets. The scheme also prioritizes women's empowerment, with Rs 5374 crore allocated for projects benefiting women in ornamental fish culture and seaweed cultivation.
A significant portion of the funds will be used to create 29,964 hectares of pond area for inland aquaculture, 4013 bio-floc units, and 11,995 re-circulatory aquaculture systems (RAS). Additionally, the government aims to establish 50,710 reservoir cages and 543.7 hectares of pens in reservoirs.
To promote post-harvest infrastructure, the scheme will fund the construction of 54 fishing harbours, 586 cold storages, and 18 wholesale fish markets. The government has emphasized inclusive development under PMMSY, with higher financial assistance provided to SC/ST and women beneficiaries.
PMSSY aims to significantly boost fisheries exports to a target of Rs 1 lakh crore by the end of the current financial year (2024-25). This ambitious goal is part of a broader plan to revitalize the fisheries and aquaculture sector in India.
PMMSY tackles key challenges faced by the industry, focusing on improving fish production, quality, and technology adoption. The scheme also addresses gaps in post-harvest infrastructure, promotes value chain modernization, and aims to minimize losses after fish are caught.
To enhance India's global competitiveness in fisheries exports, PMSSY offers a multi-pronged approach. It supports production of high-quality fish, diversification of species cultivated, and specifically promotes varieties popular in international markets. Building brand recognition, establishing robust quality standards and certifications, and providing training for industry professionals are also central to the program.
The government's efforts seem to be yielding positive results. India's total fish production has steadily increased over the past five years, reaching a projected figure of 182.70 lakh tonnes in 2023-24. Fisheries exports have also seen an upward trend, with a value of Rs 60,523.89 crore achieved in 2023-24.
These figures were revealed by Union Minister for Fisheries, Animal Husbandry & Dairying, Rajiv Ranjan Singh, in a written reply to a question raised in the Lok Sabha. While the ambitious target of Rs 1 lakh crore for 2024-25 remains to be seen, PMMSY's comprehensive approach offers a promising path forward for India's fisheries sector and its role in the global market.
In a significant move aimed at revitalizing the fisheries sector, the Union Cabinet, under the leadership of Prime Minister Narendra Modi, has approved the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY). This initiative, a Central Sector Sub-scheme under the broader Pradhan Mantri Matsya Sampada Yojana, is poised to formalize the fisheries sector and provide robust support to fisheries micro and small enterprises (MSEs) with a substantial investment exceeding Rs 6,000 crore over the next four years.
The PM-MKSSY will be rolled out across all States and Union Territories from FY 2023-24 to FY 2026-27. The scheme is backed by an estimated outlay of Rs 6,000 crore, with half of the funding, Rs 3,000 crore, expected to come from public finance sources, including external financing from the World Bank and the Agence Française de Développement (AFD). The remaining Rs 3,000 crore is anticipated to be leveraged from beneficiaries and the private sector.
One of the cornerstone objectives of the PM-MKSSY is the creation of a National Fisheries Digital Platform, which aims to provide work-based identities to 40 lakh small and micro-enterprises. This initiative is expected to bring about the gradual formalization of the fisheries sector, thereby enhancing access to institutional credit.
The scheme is projected to support 6.4 lakh micro-enterprises and 5,500 fisheries cooperatives, fostering a shift from traditional subsidies to performance-based incentives. Additionally, it will bolster 55,000 targeted micro and small enterprises, improving the efficiency of the fisheries value chain and ensuring the availability of safe, high-quality fish.
PM-MKSSY also emphasizes environmental sustainability and business transparency, addressing critical issues like aquaculture crop losses due to disease through the introduction of insurance coverage. This measure is expected to strengthen production and productivity while enhancing the export competitiveness of Indian fisheries through value addition and market creation.
The scheme's broad impact is expected to resonate across the domestic market, leading to improved fish quality, strengthened local markets, and significant business growth. The creation of 1.7 lakh new jobs, with a special focus on employing 75,000 women, is anticipated. Moreover, the initiative is set to generate 5.4 lakh continued employment opportunities within the micro and small enterprises value chain. (IPA Service)
