'India's fish output to surpass 13 mn tonnes by 2016'

SME News, Wednesday, Oct 03, 2012 16:06:20 PM IST

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NEW DELHI: India's fish output will surpass 13 million tonnes mark by the year 2016 from the present level of more than nine million tonnes, said a study unveiled by trade body Associated Chambers of Commerce and Industry of India (ASSOCHAM).

According to the study `Fisheries: A Prize Catch in Indian Export Basket', “With appropriate incentives, coupled with robust investments in infrastructure, fish production in India can grow at a compounded annual growth rate (CAGR) of about 7 per cent during the next four-five years from the current level of over 3.5 per cent CAGR.”

Reports suggest that Indian marine waters houses more than 1,700 fish species, consisting 200 commercially significant species. The sector offers employment to more than 15 million people. Fish eaters account for more than half of the country's overall population.

ASSOCHAM Secretary General DS Rawat said, “India is the second largest source of aquaculture production in the world after China. Inland fisheries, reservoirs and freshwater aquaculture are the pillars of growth. Besides floodplain lakes and wetlands, irrigation canals, saline and waterlogged areas too contribute towards output.”

Moreover, export are responsible for 8-10% of the overall fish output in India. Fisheries' export presently was at nearly $3 billion and may touch $4.7 billion by 2014.

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