India is the second largest fishery industry in the world after China, contributing to 5.43% of global fish production. India is also a major aquaculture industry . Fisheries being one of the promising sectors of agriculture and allied activities in India, a growth target rate of 6 per cent was fixed by the Union Government.
The ‘fisheries and aquaculture sector’ is recognized as the sunshine sector in Indian agriculture. It drives growth in a number of subsidiary sector and is the source of livelihood for a large section of economically backward population, especially fishermen, of the country. It helps in increasing food supply, generating adequate employment opportunities and raising nutritional level. It has a huge export potential and is a big source of foreign exchange earnings for the country
But, there are several challenges and issues facing the fisheries development in the country, such as, accurate data on assessment of fishery resources and their potential in terms of fish production; development of sustainable technologies for fin and shell fish culture; yield optimisation; harvest and post-harvest operations like cold storage facilities; landing and berthing facilities for fishing vessels and welfare of fishermen; etc.
Foreign equity is permitted in fish processing sector. Fish processing projects with a minimum of 20 per cent value addition can be set up as 100 per cent Export Oriented Units. All items can be exported freely except for silver pomfrets of weight less than 300 grams. MPEDA is the authority which regulates the export of fisheries, which is based in Kochi.
List of All Companies Operating in Fishery Sector in India