Union Minister Rajiv Ranjan Singh announced on Wednesday that the government will take steps to fortify the fishing sector's foundation over the next five years, with a particular focus on raising annual seafood exports to Rs 1 trillion from about Rs 60,000 crore in the previous fiscal year. Here, at a function celebrating the fourth anniversary of the Pradhan Mantri Matsya Sampada Yojna (PMMSY), Singh, the Union Minister for Fisheries, Animal Husbandry, and Dairy, was speaking.

Along with releasing the standard operating procedure on production & processing clusters in the fisheries industry, he also initiated the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojna. The minister pointed out that since independence, the fishing industry, which supports the livelihoods of over 30 million fishermen and fish growers, has not received the proper attention.

Singh did point out that since 2014, the government led by Prime Minister Narendra Modi has made a number of steps to foster the expansion of this significant industry, such as the introduction of the PMSSY program, which has a budget of more than Rs 20,000 crore.

He emphasized that as a consequence of these actions, the nation's fish production grew from 9.579 million tonnes in 2013–14 to 17.545 million tonnes in 2023–24. The minister claimed that the fishing industry has seen significant advancements in technology and infrastructure thanks to funding from the PMSSY.

In order to contribute to the overarching goal of making India a developed country by 2029, he emphasized the necessity to improve the sector's foundation and stated that the government will concentrate on that over the next five years.

According to Singh, the nation exports seafood valued at more than Rs 60,000 crore to over 130 nations, with the goal of raising this total to Rs 1 trillion yearly. He did not, however, provide a timeframe for reaching this goal.

The minister reported that he had recently met with several exporters who emphasized the need to combat illnesses in order to increase exports abroad. Singh stated that a committee has been established to provide suggestions on how to address this issue and gave the assurance that the government will act on the committee's findings.

The minister also announced that 100,000 transponders will be given to fisherman by the government, which will enable them to stay in touch with their loved ones and the local government during deep-sea fishing.

He continued, saying that these transponders will alert them if they transgress any marine boundaries. Singh announced the opening of a digital site, the notification of coastal fishing villages for development as climate resilient coastal fishing villages and fisheries clusters, and the notification of centers of excellence and Nucleus Breeding centers at the ceremony.

George Kurian, Union Minister of State for Fisheries, Animal Husbandry, and Dairy, also discussed the advancements made in this field over the previous ten years.

An official release claims that since 2014, the Center has led the way in transforming the fisheries industry through the Blue Revolution by developing and putting into action investment plans totaling Rs 38,572 crore.

Important programs include the Fisheries and Aquaculture Infrastructure Development Fund (FIDF), which was established in 2018–19 and has a fund size of Rs 7,522.48 crore; the Blue Revolution: Integrated Development and Management of Fisheries, which was implemented from 2015–16 to 2019–20 with an investment of Rs 5,000 crore; the PMMSY, which was implemented for a period of five years (2020–21 to 2024–25) with an investment of Rs 20,050 crore; as well as the Rs 6,000 crore Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY).

Enhancing production, productivity, quality, exports, lowering post-harvest losses, and promoting innovation and innovative technology infusion, entrepreneurship development, and the welfare of fishers, fish farmers, fish workers, fish vendors, and other parties directly involved in the fisheries value chain are the main goals of these programs.