Andhra Pradesh stands as a beacon of success in the realm of aquaculture, offering a lucrative opportunity for investors eyeing the sector. With its thriving industry contributing significantly to the state’s economic prosperity, Andhra Pradesh has positioned itself as a prime destination for aquaculture ventures.
Ranked at the forefront of aquaculture and marine exports, Andhra Pradesh has garnered attention for its conducive environment for investment in the sector. As the state gears up to host the Global Investors Summit in Visakhapatnam on March 3 and 4, government officials express confidence in attracting further investments into the burgeoning aquaculture industry.
Blessed with favourable climatic conditions, abundant water resources, and an extensive coastline stretching approximately 974 kilometers, Andhra Pradesh offers an ideal setting for aquaculture activities. The state plays a pivotal role in India’s seafood exports, boasting the highest production of eggs, fish, and shrimp while securing the top position in marine exports during the fiscal year 2021-22.
Currently, aquaculture occupies 2.12 lakh hectares of land, with 1.38 lakh farmers actively engaged in the sector across the state. Complementing this infrastructure are 111 cold storage facilities with a combined storage capacity of 2.27 metric tonnes of aqua products.
To bolster the sector further, the government extends support to aqua farmers through various initiatives. Subsidized power is provided to farmers cultivating in areas under 10 acres falling within designated aqua zones, benefitting approximately 26,000 aquaculture farmers presently.
Additionally, the government undertakes measures such as subsidizing pond and tank construction, establishing hatcheries, and organizing training programs for farmers to enhance productivity and efficiency in the sector. The establishment of an Aquatic Quarantine Facility underscores the state’s commitment to ensuring the quality of exported aquaculture products.
Moreover, with the development of six inland waterways and nine fishing harbours, Andhra Pradesh aims to enhance sea connectivity, thereby unlocking the full potential of its expansive coastline—the second largest in the country.
As Andhra Pradesh continues to pave the way for sustainable growth and development in the aquaculture sector, the upcoming Global Investors Summit serves as a pivotal platform to showcase the state’s vast potential and attract strategic investments that will further propel its trajectory of success.
