Wednesday, 24 May 2017

Fisheries sector likely to touch Rs 1.5 lakh cr by 2020

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Urging the government to double the outlay of Rs 3,000 crore for development and management of fisheries sector, apex industry body ASSOCHAM said that India could achieve about 16 million metric tonnes (MMT) of inland and marine fisheries’ production by 2019-20 thereby adopting a target oriented approach to achieve eight per cent growth year-on-year.

“Aided by government’s efforts to bring systemic changes in processing sector, the domestic segment in raw and processed fisheries sector in value terms is expected to touch Rs 1.5 lakh crore by 2020 and total domestic retail market is forecast to cross Rs 61 lakh crore or almost triple in next 4-5 years,” noted a just-concluded ASSOCHAM study titled ‘Fisheries in India: Potential & prospects; Reference state – West Bengal.’

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