Kochi, Jan 12 (IANS) In a significant push to unlock its vast blue economy potential, the Lakshadweep administration is preparing to roll out a comprehensive road map aimed at promoting entrepreneurship, technological advancement and large-scale investments in the fisheries and mariculture sectors.

Addressing stakeholders on the sidelines of the ongoing Matsya Mela in Kavaratti, Lakshadweep Fisheries Secretary Raj Thilak, IFS, outlined a series of strategic initiatives focussed on strengthening the tuna and seaweed value chains, ornamental fisheries and marine cage fish farming.

The measures, he said, are designed to ensure holistic development of the fisheries sector while creating sustainable livelihoods for island communities.

The Matsya Mela is being organised by the Lakshadweep Krishi Vigyan Kendra of the ICAR–Central Marine Fisheries Research Institute (CMFRI), in association with the Lakshadweep Fisheries Department.

Emphasising innovation-led growth, Thilak said targeted efforts would be made to encourage startups and fisheries-based entrepreneurship, particularly among island youth and women.

“Investments in fisheries infrastructure and value chains will significantly enhance production and export potential, supporting the socio-economic development of Lakshadweep’s coastal communities. Special emphasis is being placed on adopting advanced technologies and promoting private participation to fully realise the islands’ blue economy potential,” he said.

Experts and stakeholders at the meet highlighted strong prospects in the tuna value chain and seaweed-based enterprises, citing Lakshadweep’s strategic location, pristine waters and rich marine biodiversity.

Value-added tuna products, seaweed-derived nutraceuticals and functional foods, as well as ornamental fish farming, were identified as high-growth segments with robust global demand.

A scientific report presented during the technical session noted that while Lakshadweep has an estimated fisheries potential of nearly one lakh tonnes, current production remains at around 20,000 tonnes, underscoring a large untapped opportunity for sustainable mariculture expansion.

Marine cage farming — involving high-value species such as cobia, pompano, seabass, groupers and snappers — was highlighted as a scalable and environmentally responsible technology suited to open seas and lagoons.

Experts also recommended the adoption of Integrated Multi-Trophic Aquaculture (IMTA), combining finfish with seaweeds and shellfish, to improve ecological sustainability and enhance farm profitability.

Discussions further identified opportunities for setting up hatcheries, feed manufacturing units, cold-chain infrastructure, processing facilities and branding of “Lakshadweep premium seafood products,” supported by export logistics through mainland hubs.

Funding support under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) was highlighted, with a need assessment initiated to identify projects under PMMSY 2.0.

Notably, investment proposals exceeding Rs 500 crore were secured during an Investors’ Meet held in Lakshadweep in December last year.

CMFRI Director Dr Grinson George, Lakshadweep Fisheries Director K. Buzar Jamhar, DANICS officials and Lakshadweep KVK Head Dr P.N. Ananth also addressed the stakeholder meet.

–IANS

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