Govt plans to promote tuna fishing in Lakshadweep

Eyeing a massive growth in tuna fishing, its processing and export, the Centre has steered investors towards the Lakshadweep Islands in the Arabian Sea. A single-window system is also being developed for smooth project approvals in order to facilitate investment and streamline processes in Lakshadweep.

Investment proposals worth more than Rs 500 crore were envisaged in the first-ever investors’ meet conducted on the island to unlock the immense potential of Lakshadweep’s blue economy, said the Department of Fisheries.

Lakshadweep possesses nearly 20 per cent area of India’s Exclusive Economic Zone and water around it has rich stocks of tuna and other high-value species. The current production is around 15,000 tonnes annually, but the region has the potential of reach one-lakh mark. The government is looking at investors to develop a modern value chain that includes fishing, certification, branding and export-oriented processing, for premium international markets.

Traditional fishing practices in the region make it ideal for global eco-labelling systems like ‘marine stewardship council (MSC)’, which can unlock access to high-end markets and premium pricing. Opportunities also exist in infrastructure development, including smart fishing harbours, cold chain facilities and processing units, as well as fleet modernisation through advanced multi-gear and deep-sea fishing vessels equipped with onboard storage and processing, and mother vessels for catch aggregation and transportation. These initiatives collectively promise to transform Lakshadweep into a hub for sustainable, globally competitive tuna fisheries.

The 22 investors and key entrepreneurs who participated are working in the areas of tuna and deep-sea fisheries, seaweed cultivation, ornamental fisheries, and waste management across the Country.

Apart from Tuna, The Department of Fisheries has highlighted seaweed farming processing and bioproducts; ornamental hatcheries; and offshore cage farming as key areas for investment opportunities.