A scene from Chandrabhaga seaside close to Konark on Bay of Bengal Sea’s Odisha coast. File | Picture Credit score: Biswaranjan Route
Focused incentivisation can play a vital function in selling progress and sustainable improvement in India’s deep sea and offshore fishing trade, a report ready by the NITI Aayog on ‘India’s Blue’ Economic system: Technique for Harnessing Deep-Sea and Offshore Fisheries’ has mentioned. The report, launched right here on Monday by NITI Aayog member Ramesh Chand, mentioned all subsidies must be saved to a minimal, utilized for a restricted interval, and phased out as quickly as attainable.
The report has recognized six key coverage interventions on overhauling insurance policies and rules; strengthening institutional and capability constructing; modernizing fleets and upgrading infrastructure; selling sustainable fisheries administration; mobilizing sources and financing; and enhancing area people participation and partnerships. “Recognizing the capital intensive nature of deep-sea fishing, the report additionally emphasizes inclusive fleet improvement by supporting fisherman cooperatives and cluster-based approaches, enabling collective possession, operations, and entry to fashionable know-how. It additionally outlines precedence investments and monitoring mechanisms mandatory to make sure long-term ecological and financial sustainability,” a launch. by the NITI Aayog mentioned.
“An indicative costing framework for the three phases has additionally been supplied by contemplating the convergence of Centrally sponsored and Central sector schemes associated to fisheries — Part 1: Laying the muse and fostering early progress (3 years|2025-28); Part 2: Scaling up and attaining world competitiveness (4 years | 2029-32) and Part 3: International management in sustainable deep-sea fisheries (8 years and past | 2033 onwards),” it added.
Constructing on the sector’s sturdy progress trajectory, the report provides a roadmap to strengthen governance, foster innovation, and improve participation of stakeholders. “By means of built-in interventions in coverage reform, infrastructure improvement, sustainability, financing, and neighborhood empowerment, the initiative goals to make India a world chief in sustainable deep-sea fisheries, making certain prosperity for coastal communities and contributing considerably to the Blue Economic system imaginative and prescient of the nation,” the NITI Aayog mentioned.
Revealed – October 14, 2025 05:56 am IST