August 13, 2013

Due to rising demand, urbanisation and evolving eating patterns, India's wholesale fish prices have risen by a significant 131% over the past five years. 

The country also faces depletion and over-exploitation of local fish stocks, according to a recent study by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

Growing urbanisation and the advent of supermarkets has led to growth in fish consumption across India. However, the lack of post-harvesting equipment, food processing technology and storage facilities are hampering the growth prospects of the fishing industry.

In addition, India's traditional fishing communities are over-exploiting coastal waters, leading to fast depletion of marine resources and shrinking catch from coastal regions. The ASSOCHAM study also highlighted that due to severe dearth of suitable fishing vessels, fish stocks in India's territorial deep-sea waters remain untapped, a potential income loss to the local fishing community and other stakeholders. Lack of proper post-harvest handling infrastructure in the country has caused wastage of about 25% of total fisheries resources, thereby causing a staggering US$2.4 billion of annual losses, the study stated.

ASSOCHAM has suggested developing technology for value addition and infrastructure for fish production based on public-private partnership (PPP) model to overcome the setbacks. More investments can made in value added fish and marine products within the ready-to-eat and ready-to-serve categories more so as growing domestic market also offers opportunities for such products in the fast growing retail sector. 

With over 8,100 kilometres of marine coastline, four million hectares of reservoirs, two million hectares of brackish water and nearly 51,000 square kilometres of continental shelf area, India is ranked as the second largest fish producer in the world after China and accounts for nearly 6% of global fish production of about 180 million tonnes annually.