Fish production may cross 13 mt in India by 2016 : ASSOCHAM
Fish production in India is set to cross 13 mln tonnes (MT) mark by 2016 from the current level of over nine million tonnes, according to a comprehensive study on fisheries brought out by Associated Chambers of Commerce and Industry of India (ASSOCHAM).
With appropriate incentives coupled with robust investments in infrastructure, fish production in India can grow at a compounded annual growth rate (CAGR) of about seven per cent during the course of next four-five years from the current level of over 3.5 per cent CAGR, according to the study titled 'Fisheries - A Prize Catch in Indian Export Basket,' that was jointly released by ASSOCHAM Southern Regional Council Chairman Mr R Sannareddy along with National Secretary General D S Rawat here today.
"Indian marine waters are home to over 1,700 fish species including 200 commercially significant species, while the sector employs over 15 million people and fish eaters account for over half of India's total population," Mr Sannareddy said.
"India is the second largest source of aquaculture production in the world after China. Inland fisheries, reservoirs and freshwater aquaculture are the pillars of growth, besides, floodplain lakes and wetlands, irrigation canals, saline and waterlogged areas too contribute towards rising production," Mr Rawat said.