Kavaratti, December 14 (PTI) The Centre, in collaboration with the Lakshadweep administration, has organised a first-of-its-kind investors' meet in the union territory to boost the fisheries and aquaculture sector.

The meet on "Investment Opportunities in Fisheries and Aquaculture Sector of Lakshadweep Islands" was organised at Bangaram Island on Saturday.

The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying (MoFAHD), Government of India joined hands with the Lakshadweep administration to organise the event, according to an official statement.

"This was a first-of-its-kind investors' meet in the Island, wherein various Investors from across the country participated. So far, investments to the tune of approximately Rs 519 crore have been envisaged," the statement said.

The event was attended by union ministers Rajiv Ranjan Singh, S P Singh Baghel and George Kurian, along with Praful Patel, the Administrator of Lakshadweep.

An interactive session was held as part of the meet to provide investors with a platform to share experiences and highlight challenges.

They outlined several issues, including transportation of the production to the mainland, cold storage requirements, ice plants, and development of chilled fish handling centres for post-harvest management.

The Investors called for value-added facilities for sashimi-grade tuna, fish oil refining capacities, the requirement of skilled labour, and ornamental fish brood banks for the strategic utilisation of Lakshadweep's Exclusive Economic Zone (EEC) to drive sustainable growth.

In his keynote address, Ranjan Singh said that the Centre issued fishing rules for the EEZ and hence, the fishermen operating there can now legally fish with an authorised "access pass," enabling them to export high-value tuna and other fish products to international markets.

As per international law, fishery resources present in India's EEZ will now be recognised as "Indian origin," which would further facilitate the export of fish products, he added.

The minister further said that the Centre issued the 'High Seas Fishing Guidelines' granting fishing vessels flying the Indian flag the legal right to operate in these waters, it said. He also urged investors to come forward and seize the vast investment opportunities in the sector.

Baghel, in his address, highlighted Lakshadweep's untapped fisheries potential and called for the need to bridge the gap between the archipelago's current production of 14,000 tonnes and its potential of 1 lakh tonnes.

He emphasised that the islands are naturally suited for premium-quality tuna fishing using pole-and-line and handline methods are globally recognised for their clean and sustainable practices. With proper branding, certification, and modern value-chain development, Lakshadweep tuna can access high-end international markets.

He urged exporters to explore newer markets and leverage existing government welfare schemes to strengthen the fisheries value chain.

Minister Kurian focused on emerging investment domains such as seaweed farming and ornamental fisheries, which offer high returns and diversification opportunities.

He emphasised that India must harness its vast EEZ to boost production, strengthen deep-sea fishing, and create value-added seafood products, driving the blue economy forward.

Administrator Patel affirmed the collective commitment to realise Prime Minister Narendra Modi's vision of leading the blue revolution and urged stakeholders to share sector-wise and policy-related suggestions to help frame Lakshadweep's first fishing policy.

Highlighting upcoming initiatives such as the Minicoy airport development and cooperative society strengthening, Patel assured full support to the investors, with plans for a follow-up meeting in Delhi to accelerate progress.

The investors' meet brought together 22 key investors from various parts of the country. Over 200 participants joined in hybrid mode, the statement said.

The event was attended by senior officials from the Department of Fisheries of the Centre and the UT along with local fishermen societies, the statement added. PTI LGK ADB