China's Emergence as a Leading Force in the Fisheries Industry

• Addressing food security issues:
  • As China faces farmland shortages and has become a significant importer of food grain, it has bolstered its fishing industry to cater to the protein demand of its population. As a result, China has emerged as a significant force in the global fisheries sector.
• Balancing the demand for protein and profit:
  • To meet the domestic demand for fish, which its deep-water fishing fleet cannot satisfy, China has been involved in distant deepwater fishing since 1985. It has also signed contracts to fish in the exclusive economic zones (EEZs) of other countries in Asia and Africa.
• Supporting naval and coast guard operations:
  • A portion of China's fishing fleet also serves as a maritime militia, aiding its navy and coast guard operations.

India's Fisheries Sector: An Overview

• Addressing hunger and malnutrition:
  • Fish, being an affordable and rich source of protein, can play a pivotal role in India's fight against hunger and malnutrition .
• Contribution of the Indian fisheries sector:
  • The fisheries sector in India is undergoing a transformation into a commercial venture, contributing significantly to foreign exchange earnings . The sector provides livelihoods to about 15 million fishers and generates almost double the number of jobs in related areas such as transportation, cold storage, and marketing.

Challenges Faced by India's Fisheries Sector

• Depletion of fish populations and rising fuel costs: India's fishing communities are facing severe difficulties due to a variety of factors, including fish population decline and increased fuel costs.
• Limited to coastal waters: India's fishing industry is constrained to coastal waters and faces competition from neighbouring countries such as Sri Lanka and Pakistan.
• Lack of deepwater fleet: The absence of a deepwater fleet in India means that rich fishing grounds in India's EEZ remain underutilized. Foreign fishing fleets, including those involved in illegal, unregulated, and unreported fishing, often exploit these resources.
• Drifting into foreign waters: Often, Indian fishing vessels drift into foreign waters, leading to the arrest of crew members by foreign navies or coast guards and prolonged imprisonment.
• Export of low-value products: Currently, India's fishing industry primarily exports low-value frozen and chilled fish products, missing out on the potential profits from higher-value ready-to-eat or ready-to-cook products.

Reforms Required in India's Fisheries Sector

• Key areas for improvement:
  1. Modernization of fishing vessels with advanced fish detection technology and financial support for artisanal fishers.
  2. Development of deep-sea fishing fleets equipped with larger trawlers and refrigeration facilities.
  3. Establishment of a deep-water fishing fleet based on the "mothership" concept to provide fuel, medical, and onboard preservation/processing facilities.
  4. Construction of modern fishing harbours with adequate facilities for storage, preservation, and packaging of fish.

Pradhan Mantri Matsya Sampada Yojana

• Launched in 2020, the Pradhan Mantri Matsya Sampada Yojana aims to sustainably develop India's fisheries sector with an estimated investment of Rs 20,000 crores over the next five years. The proposal to form an "Indo-Sri Lankan Fishing Corporation" could benefit both countries' fishing industries and improve bilateral relations. This initiative aligns with the principle of SAGAR, which stands for "Security and Growth for All in the Region."