Socio-economic benefits of the fisheries sector

GS Paper 3

Syllabus: Economics of Animal-Rearing

 

Source: DTE

 Direction: The article highlights the relevance of fish production for the economy and filling nutritional gaps. It also gives an overview of India’s fisheries sector.

 Context: According to a new study, small fish captured in lakes and the oceans of low and middle-income countries (LMIC) of Africa, Asia and the Pacific can help fill nutritional gaps.

Background:

  • Over a billion people across the world depend heavily on fish and other aquatic foods for nutrition.
  • The majority of these people reside in the LMIC of Africa, Asia and the Pacific, often near rivers, lakes or the ocean.

Highlights of the study – Small Pelagic Fish Supply Abundant and Affordable Micronutrients to LMIC:

  • Pelagic fish (herring, sardines and anchovies), which live in the upper layers of open water, are the –
    • Least expensive,
    • Most nutrient-dense (in selenium, omega-3 fatty acids, zinc, iron and calcium) and
    • Readily available fish.
  • Cold-water species that are found close to the ocean floor, such as cod and flounder, are the most expensive.

 

Significance:

  • These superfoods are incredible sources of the micronutrients needed for human health and cognitive growth.
  • Small fish could provide environmental, social and economic benefits and help fill nutrient gaps in LMIC.
  • The findings will help inform public health and fisheries strategies in areas with inadequate information on fish nutrition.

 

Challenges to the availability of these small fish: Overfishing, trade and the growing international demand for fish oil.

 

Way ahead: Creating equitable and sustainable regulations for managing small-scale fisheries.

 

Fishery sector in India:

Overview:

●        Fisheries is a fast-growing ‘Sunrise Sector’ in India, which provides nutrition and food security to a large population and employment to over 28 million people.

●        It occupies an important place in socio-economic development and has witnessed an average annual growth of ~11% since 2014-15

●        The sector has reached record fish production of 142 lakh tons in FY 2019-20, making India the second largest fish-producing (7.56% of global production) country, contributing over 7.28% to the agricultural GVA.

●        The sector has immense potential for growth and it has been instrumental in sustaining the livelihoods, especially of vulnerable communities.

 

Schemes and programs:

●        Pradhan Mantri Matsya Sampada Yojana (PMMSY)

●        Implementation of the Fisheries and Aquaculture Infrastructure Development Fund (FIDF)

●        Kisan Credit Card (KCC)

●        Budget (2021-22) announcements –

○        Seaweed Park in Tamil Nadu

○        Development of 5 Major Fishing harbours as the hub of economic activities – Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat

 

Recognising the sector’s enormous potential, the Indian government established a dedicated Ministry of Fisheries, Animal Husbandry and Dairy in 2019.

Insta Links:

Fishing Industry in India

 

Mains Links:

Q. Examine the potential of and problems faced by India’s fisheries sector and measures taken to address these problems. (250 Words)