Fisheries sector can attract USD 9 billion investment in 5 years Official

    Kolkata, Nov 21 (PTI) India expects the fisheries
sector to attract investments worth USD 9 billion over the
next five years along with huge employment generation, a top
official said on Sarturday.
    Fisheries exports are expected to more than double to
Rs 100,000 crore by 2024-25 from Rs 46,589 crore at present,
he said.
    "Government is targeting investments to the tune of
USD 9 billion in the fisheries sector over the next five
years," Union Fisheries Secretary Rajeev Ranjan said at an e-
conference of Indian Chamber of Commerce.
    He said the PM Matsya Sampada Yojana (PMMSY) has been
designed to achieve this target and the Centre is striving to
raise fish production to 220 lakh tonnes by 2024-25 from 138
lakh tonnes, the official was quoted as saying in a release.
    "This will also have significant repercussion on
employment generation from the sector, which is expected to be
around 55 lakh by 2024-25 from close to 15 lakh at present,"
Ranjan said.
    The central government has also envisaged to improve
the quality of life in coastal communities and diversification
of the coastal economy through sustainable livelihood
opportunities and inclusive development in an integrated
manner, and Rs 750 crore has been allocated toward the same,
he said.
    "One of the major objectives of PMMSY is to double
marine products export to USD 15 billion by 2024," Ranjan
added. PTI BSM

(This story has not been edited by THE WEEK and is auto-generated from PTI)