NITI Aayog report moots policy changes for fisheries sector

A report on ‘India’s Blue Economy: Strategy to Leverage Deep Sea and Offshore Fisheries’ by NITI Aayog stated that targeted incentives can play a significant role in promoting growth and sustainable development in India’s deep sea and offshore fishing industry. The report, released here on Monday by NITI Aayog member Ramesh Chand, said all subsidies should be kept to a minimum, implemented for a limited period and phased out as soon as possible.

The report identified six key policy interventions to overhaul policies and regulations; strengthening institutional and capacity building; modernizing fleets and improving infrastructure; promote sustainable fisheries management; mobilize resources and finance; and enhancing local community engagement and partnerships. “Recognizing the capital-intensive nature of deep-sea fishing, the report also emphasizes inclusive fleet development by supporting fishing cooperatives and cluster-based approaches, enabling collective ownership, operations and access to modern technology. It also outlines investment priorities and monitoring mechanisms required to ensure long-term ecological and economic sustainability,” NITI Aayog said in a statement.

“An indicative costing framework has also been provided for three phases, taking into account the convergence of Centrally sponsored and Central sector programs on fisheries – Phase 1: Laying the foundation and supporting early growth (3 years | 2025-28); Phase 2: Scaling up and achieving global competitiveness (4 years | 2029-32) and Phase 3: Global leadership in sustainable deep-sea fishing (8 years onwards | 2025-28). from 2033),” he added.

Drawing on the sector’s strong growth trajectory, the report offers a roadmap to strengthen governance, encourage innovation and increase stakeholder engagement. “Through integrated interventions on policy reform, infrastructure development, sustainability, financing and community empowerment, the initiative aims to make India a global leader in sustainable deep-sea fisheries, deliver prosperity for coastal communities and contribute significantly to the country’s Blue Economy vision,” NITI Aayog said. he said.