New Delhi: Suggesting to the government that it should encourage foreign investments for developing infrastructure for the marine sector, Assocham on Wednesday said the industry’s size is likely to reach Rs 67,800 crore by 2015.
At present, it is about Rs 53,000 crore.
“Over 8,000 km of coastline, four million hectares of reservoirs, two million hectares of brackish water offer a plethora of opportunities for the growth of marine and fish industry of India,” Assocham said.
Fish production in India is likely to cross 12 million tonnes by 2015 from 9.3 million tonne presently, it said.
A file photo of a fish seller in Thane
India is the second largest fish producer in the world after China, and accounts for nearly six per cent of global production, the industry body said.
Assocham said the country’s fishery resources are under-utilised and there is a tremendous potential to further increase the output.
“There is a huge scope for investments in packaged marine processing plant, operations in preservation, processing and export of coastal fish for the private sector as it holds vast, untapped marine resources with a great export potential,” the chamber said.
It added that India’s seafood exports are likely to touch $4.7 billion by 2013, from $2.8 billion in 2010-11.