“Govt’s policies striking the right chord for the sector”

“As the industry was breathing a sigh of relief in 2019-20 after a serious setback in 201819, the COVID-19 broke out as a pandemic posing a big challenge to humanity. The Corona Virus which unfolded in a big way during the second half of 2019 in China spread like a wildfire almost the entire world with India being no exception. As an initial reaction to the pandemic, the shrimp culture stocking slowed down during April and May 2020, apprehending a fall in export prices and export market. Q1 i.e. Apr-may-jun 2020, are the months during which stocking takes place intensively and the production levels are forecasted depending on the stockings and extent of culture area which missed in Q1 of FY21.”

“We can also take heart from the recent Government’s Policy of ‘Economic Revolution through Blue Revolution’ giving shape to the scheme ‘Pradhan Mantri Matsya Sampada Yojana’ (PMMSY) for fisheries in May 2020 with an investment of over Rs 20,000 crore in next 5 years. This scheme aims at increasing fish and shrimp production in India at an annual growth rate of 9 per cent from 137.58 lakh metric tonnes (LMT) in 2018-19 to 220 LMT by 2024-25. Hopefully, if this scheme is implemented in earnest, it will go a long way in the growth of seafood Industry. Looking back at fiscal 2019-20, I can say with satisfaction that we effectively countered every business challenge that came our way, and emerged stronger and profitable. Our success without a doubt is owed largely to the unstinted patronage by the farmers and committed employees across the board.”