Syllabus:

GS-3: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.

GS-3: Conservation, environmental pollution and degradation, environmental impact assessment 

Context: Recently, NITI Aayog released a report on “India’s Blue Economy: Strategy for Harnessing Deep-Sea and Offshore Fisheries”.

Key Highlights of the Report

• India is the second-largest fish-producing country globally, accounting for about 8% of global production.

• The fisheries sector supports nearly 30 million livelihoods and generated export earnings of ₹60,523 crore in FY 2023–24.

• India's Exclusive Economic Zone (EEZ) covers more than 2 million sq. km and the coastline extends for 11,098 km across nine coastal States and four Union Territories, offering vast deep-sea fishery resources.

• The estimated potential yield within the EEZ stands at approximately 7.16 million tonnes, yet deep-sea resources are largely untapped.

• An indicative costing framework for the three phases has been provided by considering the convergence of centrally sponsored and central sector schemes related to fisheries:

• Phase 1: Laying the foundation and fostering early growth (3 years| 2025-28).
• Phase 2: Scaling up and achieving global competitiveness (4 years| 2029-32).
• Phase 3: Global leadership in sustainable deep-sea fisheries (8 years and beyond | 2033 onwards).

Government Initiatives

• Pradhan Mantri Matsya Sampada Yojana (PMMSY): It provides subsidies and financial support for modernizing fleets and promoting deep-sea fishing; and other measures like 

• Fisheries and Aquaculture Infrastructure Development Fund (FIDF): It is a government scheme that provides concessional finance for creating and modernizing fisheries infrastructure. 

• National Fisheries Policy 2020: It provides a framework to promote sustainable and inclusive development in the sector. 

Key Challenges highlighted in the Report 

• Infrastructure and Technological Gaps: over 90 fishing harbours, but only a handful are equipped to handle larger vessels  ; fleet modernization lags, and shortage of dry-docking facilities .

• Data deficiency: Lack of a centralised database and insufficient integration of available data from different sources like fishermen’s reports and satellite data.

• Regulatory Deficits: There are inadequate laws regulating fishing activities within India’s EEZ, contributing to issues like Illegal, Unreported, and Unregulated (IUU) fishing.

• Limited Fleet Presence: As of 2023, India possesses only four government-flagged vessels for deep-sea fishing, far fewer than neighbouring countries like Sri Lanka (1,883) and Iran (1,216).

• Talent and Skill Gaps: There is an urgent need to build capacity and enhance research and training in fisheries management and blue economy sectors.

• Environmental Concerns: The rapid expansion must balance economic growth with ecological sustainability to avoid overexploitation and depletion of marine resources.

About the Report 

• The report represents a strategic policy intervention to transition India into a Blue Economy, with emphasis on harnessing deep-sea and offshore fisheries for sustainable growth.

• It aims for a US$100 billion blue economy by 2030, integrating economic activities with ecological preservation and resilience-building in maritime sectors

• It presents a comprehensive framework covering the deep-sea fishing sector within India’s Exclusive Economic Zone (EEZ) and international waters accessed through regional fisheries agreements.

Sources:
Thehindu
Newonair
Nitigov