Lakshadweep Investors Meet Held for 1st Time to Tap Fisheries Potential; Rs. 500 Cr Proposals Expected

The Department of Fisheries on December 13th organised the first-ever Investors' Meet in Lakshadweep to attract private investment into the islands' untapped fisheries sector. The event was held at Bangaram Island and was attended by Union Minister Rajiv Ranjan Singh, along with senior ministers, officials, and the Administrator of Lakshadweep.

The meet brought together 22 investors and entrepreneurs from across India, working in areas such as tuna fishing, deep-sea fisheries, seaweed farming, ornamental fish, offshore cage farming, and waste management. The aim was to showcase Lakshadweep as a new investment destination under India's blue economy push.

To make investment easier, a single-window clearance system is being developed for project approvals in Lakshadweep. Officials said the Investors' Meet has already sparked strong interest, with over Rs. 500 crore worth of investment proposals expected in the coming months.

Potential Of The Fisheries Sector In Lakshadweep

According to a release by the Ministry of Fisheries, Animal Husbandry & Dairying, Officials said Lakshadweep holds nearly 20% of India's Exclusive Economic Zone, making it rich in tuna and other high-value fish species. However, current tuna production is only around 15,000 tonnes, far below the estimated potential of one lakh tonnes.

The government highlighted opportunities in tuna fishing, processing, canning, branding, and exports. Investors were also encouraged to develop cold storage, modern fishing harbours, and processing units. With sustainable fishing practices already in place, Lakshadweep tuna could be sold in global markets under premium labels such as "Lakshadweep Sustainable Tuna."

Lakshadweep's 4,200 sq. km lagoon area makes it ideal for seaweed cultivation, a sector seeing fast-growing global demand. The islands have already been notified as a Seaweed Cluster under PMMSY, with facilities like a Seaweed Seed Bank and Hatchery in place.

The Lakshadweep Administration is working on a leasing policy to allow private players to take up offshore seaweed farming.

The islands are home to nearly 300 species of ornamental marine fish, making Lakshadweep suitable for the global aquarium market. Investors were invited to set up hatcheries, brood banks, and integrated rearing units to reduce dependence on wild catch and boost exports.

The government said similar models can be scaled up in Lakshadweep to turn the islands into a hub for modern aquaculture. Lakshadweep also offers strong potential for offshore cage farming, supported by pilot projects carried out elsewhere in India. Successful trials involving species such as sea bass and pompano have shown that large-scale mariculture is commercially viable.