India Considers PLI Scheme to Boost Seafood MSMEs
Govt to explore possibility of PLI scheme for seafood MSMEs
The Economic TimesImage: The Economic Times
The Indian government is exploring a production-linked incentive (PLI) scheme for micro, small, and medium enterprises (MSMEs) in the seafood sector to enhance international competitiveness and increase exports. The initiative aims to raise the number of seafood exporters from 1,200 to 5,000 and promote value-added products.
- 01The Fisheries Department is considering a PLI scheme for seafood MSMEs.
- 02The initiative aims to increase seafood exporters from 1,200 to 5,000.
- 03Focus on sustainable harvesting, processing, and branding of high-value marine products.
- 04Integrated approach to address food safety and quality assurance in aquaculture.
- 05Exploration of geographical indication (GI) tagging for seafood products.
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The Indian government is set to explore a production-linked incentive (PLI) scheme aimed at enhancing the competitiveness of micro, small, and medium enterprises (MSMEs) in the seafood sector. This initiative emerged from a high-level meeting between Piyush Goyal (Minister of Commerce and Industry) and Rajiv Ranjan Singh (Minister of Fisheries, Animal Husbandry & Dairying) to formulate a roadmap for the growth of India's seafood industry. The proposed PLI scheme seeks to boost the share of value-added seafood products in total exports and expand the number of seafood exporters from the current 1,200 to 5,000. Key interventions will focus on sustainable practices, processing, and branding of premium marine products like tuna. The government also plans to address Sanitary and Phytosanitary concerns and improve quality assurance systems to meet international food safety standards. Additionally, the possibility of geographical indication (GI) tagging for seafood products will be assessed.
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The PLI scheme could significantly enhance the income and sustainability of seafood MSMEs, leading to job creation and increased exports.
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