Answer:

Introduction:

India’s fisheries sector is a significant component of the country’s economy, contributing to the livelihoods of millions and forming an integral part of the nation’s agricultural output. However, the sector faces several challenges that need to be addressed to ensure its sustainable development.

Body:

Current State of India’s Fisheries Sector

• Economic Importance: Fishing contributes 1.07% of India’s GDP, providing livelihoods for over 28 million people, many of whom belong to disadvantaged and marginalized communities. India, with a share of 7.96% of global fish output, ranks as the third-largest fish producer in the world​​.
• Diversity and Production: India’s fisheries are abundant and diversified, including marine and inland resources. In FY 2020–21, India produced 14.73 million metric tonnes (MMT) of fish, comprising contributions from both the inland (11.25 MMT) and marine sectors (3.48 MMT)​​.

Challenges Faced by the Sector

• Sustainability: A major challenge is the sustainability of fish populations, with about 90% of the world’s marine fish populations either completely exploited or overfished. The near-shore coastal waters of India are particularly overfished, while deep oceans offer a potential source of high-value fish.
• Increasing Demand: The rising global demand for animal protein requires a significant increase in fish output, challenging given the current depletion rates of marine fish supplies.
• Production Efficiency: Indian fisheries have low productivity per fisher, boat, and farm compared to global standards.
• Insufficient Mechanization and Infrastructure: Many fishermen operate with traditional, non-mechanized boats, limiting their ability to venture into deeper waters for more valuable species. Additionally, issues with refrigeration facilities lead to spoilage of catches​​.

Government Policies and Initiatives

• Pradhan Mantri Matsya Sampada Yojana (PMMSY): Launched in 2020 as part of the Aatmanirbhar Bharat package, PMMSY represents the highest-ever investment in the fisheries sector in India, with an outlay of ₹20,050 crore. This scheme aims to drive sustainable development while ensuring socio-economic development for fishers, fish farmers, and fish workers.
• Fisheries and Aquaculture Infrastructure Development Fund (FIDF): Established with an investment of ₹7,522 crore to address infrastructure gaps in the sector.
• New Policy Measures: The introduction of deep-sea fishing vessels, improvements in boats and equipment, and promotion of innovative practices like open sea cage culturing and re-circulatory aquaculture systems are among the recent policy initiatives.
• Budget Allocation: The budget for the Department of Fisheries increased by 73.52% in 2022-23, and concessional institutional credit was extended to the sector through Kisan Credit Cards​​​​.

Conclusion:

The Indian government has taken significant steps to address the challenges faced by the fisheries sector, focusing on sustainability, modernization, and socio-economic development. The effectiveness of these policies and initiatives, particularly PMMSY and FIDF, reflects a comprehensive approach towards promoting sustainable development within the sector. However, continual assessment and adaptation of these policies will be crucial in ensuring the long-term sustainability and prosperity of India’s fisheries sector.

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