The Investors Meet 2024, held on November 14 at Swaraj Dweep, Andaman & Nicobar Islands, showcased emerging investment prospects in fisheries and aquaculture in the region. Organized by the Department of Fisheries under the Ministry of Fisheries, Animal Husbandry & Dairying (MoFAH&D), the event attracted a strong assembly of officials, including Union Minister Shri Rajiv Ranjan Singh, Lieutenant Governor Admiral D.K. Joshi, and other key ministry representatives.
The event spotlighted investment opportunities within the islands’ 6 lakh sq. km Exclusive Economic Zone (EEZ), rich in high-value tuna and largely untapped resources. With an estimated tuna yield potential of 60,000 metric tons but current outputs at only 4,420 metric tons, stakeholders and investors from across the country—including prominent companies like Merchant Ventures Pvt. Ltd., Uday Aqua Connects Pvt. Ltd., and Sea6 Energy Pvt. Ltd.—gathered to explore avenues for expansion.
A dedicated Tuna Cluster was announced by the Department of Fisheries as part of the Pradhan Mantri Matsya Sampada Yojana (PMMSY), marking a substantial step towards strengthening India’s blue economy. Union Minister Singh underscored recent government initiatives in fisheries under programs like PMMSY, PM-MSYK, and the Blue Revolution, which have collectively drawn an unprecedented ₹38,572 crore investment since 2015. He urged investors to consider the region’s potential as a central point for fish exports, strategically situated near Southeast Asia with expanded trade routes on the horizon.
Logistics and connectivity emerged as pivotal themes. Lieutenant Governor Joshi spoke to the challenges of limited access and lengthy trade clearance times, which stem from the absence of MPEDA and EIC offices in the region. These barriers will be eased with the introduction of a new direct flight between Andaman & Nicobar Islands and Southeast Asia on November 16, intended to streamline trade connections. Port Blair now houses newly established MPEDA and EIC desks to facilitate export processes, making the region more accessible to global markets.
Shri George Kurian, Minister of State for MoFAH&D and Minority Affairs, highlighted the unique ecological and economic advantages of the islands. The Andaman & Nicobar EEZ offers pristine resources for tuna and other high-value marine species, ideal for sustainable fishing practices. Kurian encouraged a balanced approach to resource utilization, mindful of the environmental impact.
Innovation and technology also played a role in the discussions. Minister of State Prof. S.P. Singh Baghel noted advancements in Recirculating Aquaculture Systems (RAS) and Biofloc technology, both central to the government’s vision for a modern fisheries sector. Safety initiatives like transponder installations on fishing vessels were introduced to protect fishermen at sea, while Baghel emphasized the sector’s readiness to adopt sustainable practices to mitigate climate challenges.
Dr. Abhilaksh Likhi, Secretary (Fisheries), addressed India’s strides in marine exports, noting growth fueled by expanded processing and storage infrastructure. He highlighted the potential of emerging aquaculture sectors such as sea cage culture and marine ornamental fisheries, calling for increased private sector involvement to drive economic development and biodiversity protection.
The Investors Meet 2024 brought together fishers, entrepreneurs, and government leaders, all committed to advancing Andaman & Nicobar’s role in India’s fisheries industry. The islands are primed for transformative growth, with initiatives set to make the region a powerful contributor to India’s fisheries exports and blue economy.
