Seafood Of India

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Welcome to India's first Exclusive Seafood Portal

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Cabinet approves extension of Fisheries and Aquaculture Infrastructure Development Fund (FIDF)

Good news for the Indian fisheries sector! The Union Cabinet has approved a 3-year extension of the Fisheries and Aquaculture Infrastructure Development Fund (FIDF), providing a ₹7,522.48 crore boost to infrastructure development until 2025-26.

Why FIDF Matters:

  • Addressing the Gap: Launched in 2018-19, FIDF tackles the crucial need for modern infrastructure in the fisheries sector.
  • Tangible Impact: In its initial phase, it approved 121 projects worth ₹5,588.63 crore, creating:
    • Safe landing facilities for 8,100+ fishing vessels
    • Increased fish landing capacity by 1.09 lakh tonnes
    • Benefitted 3.3 lakh fishers and stakeholders
    • Generated 2.5 lakh direct & indirect jobs
  • Extended Reach: The extension will further develop essential infrastructure like:
    • Fishing harbours
    • Fish landing centers
    • Ice plants & cold storage
    • Fish transport facilities
    • Modern fish markets
    • Aquaculture development facilities
    • Fish processing units
    • Deep-sea fishing infrastructure
  • Financial Support: FIDF offers concessional loans through NABARD, NCDC, and scheduled banks. The government provides an interest subvention of up to 3% per annum for 12 years.
  • Credit Guarantee: Entrepreneurs, individual farmers, and cooperatives can benefit from existing credit guarantee schemes.
  • Eligibility: Open to various entities, including state governments, cooperatives, SHGs, NGOs, women entrepreneurs, private companies, and individual entrepreneurs.

Overall Impact:

  • Leveraging resources: FIDF encourages investments from both public and private sectors.
  • Economic development: Promotes expansion of the fisheries and aquaculture sector.
  • Modern infrastructure: Enhances efficiency, safety, and fish production.
  • Employment opportunities: Creates jobs directly and indirectly.
  • Stakeholder involvement: Attracts more participants to the sector.
  • Complementary Schemes: Works in conjunction with PMMSY and KCC for holistic development.

This extension promises a significant boost to India’s fisheries sector, leading to economic growth, improved livelihoods, and sustainable practices.

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