Tuna has never had it so good, and the Indian Government has also recognised this fish’s unique nutritional and health benefits. Among the most lucrative and environmentally sustainable marine resources in the world, tuna sales and exports are poised to reach new heights, with the Andaman and Nicobar Islands (ANI) serving as the epicentre of this revolution.
As part of a radical overhaul in the Indian fisheries industry, the Union Territory of ANI has outlined a roadmap to achieve a three-fold increase in output, with special emphasis on tuna farming. Long known as an exotic tourist destination, the islands also hold massive potential as a fisheries and aquaculture hub for domestic consumption and exports, given their strategic location near Southeast Asia.
To give a concerted push to fisheries output and sales, led by tuna exports, the Union Territory will host an Investors’ Conclave today. This event aims to forge alliances among key stakeholders, build capacities, and enable businesses to explore investment opportunities in the highly profitable trade of tuna and other fish varieties.
To put the sector’s revenue potential into perspective, the fisheries industry remains grossly underutilised, with the total demand pegged at 60,000 tonnes. Of this, the potential for Yellowfin tuna harvests is 24,000 metric tonnes (MT), while Skipjack tuna has a potential of 2,000 MT. Current harvests from India yield only about 4,420 tonnes, leaving significant room for growth.
The revenue prospects are especially promising for a tuna variety called Sashimi, one of the most expensive and sought-after globally. Sashimi-grade tuna fetches prices of up to Rs 1,000-2,200 per kg in Japan, while Sashimi loins command prices of around $19-25 (Rs 1,700-2,500) per kg in other international markets.
The Andaman and Nicobar Islands are uniquely positioned to capitalise on this opportunity, with an abundance of rich marine resources, particularly tuna. “Despite an annual harvesting potential of 148,000 tons, output currently stands at only 49,138 tons—a significant shortfall, especially in oceanic tuna fishery resources. Furthermore, while the islands have designated areas for aquaculture, production is limited to just 439 tons,” a senior UT administration official said.
It is this glaring gap between potential and output that the Government of India’s Department of Fisheries aims to address. “We intend to promote the development of fisheries in the islands and neighbouring Lakshadweep, given their geographic location and wealth of marine resources such as tuna,” a government official stated. This initiative will not only boost fisheries production but also create livelihoods and help the region emerge as a sunrise sector for fisheries exports from India, he added.
“The Department of Fisheries recognizes the need to involve regional stakeholders and private players to give a boost to Blue Growth initiatives,” an official communication stated. This strategy will leverage public-private partnerships and local businesses to develop a ‘Blue Economy,’ enhancing productivity, investing in marketing activities, harnessing untapped resources, and facilitating technology transfers. The Investors’ Meet will be held at Swaraj Dweep in the Andaman & Nicobar Islands.
The event is spearheaded by the Department of Fisheries, with support from the National Fisheries Development Board (NFDB) and the Bay of Bengal Program, Inter-Governmental Organization (BoBP-IGO). It aims to provide a platform for knowledge exchange, collaboration, and exploration of business opportunities in the fisheries and aquaculture sectors.
This will be the first Fisheries and Aquaculture Business Meeting in the region, focusing on public-private partnerships, infrastructure development, innovation, technology transfer, skills development, and investment. The key objectives include incentivizing employment, boosting regional economic growth, and promoting the sustainable use of ocean resources.
In addition to fostering a robust network among business communities and stakeholders, the event will seek to identify gaps, weaknesses, and challenges in the sector. Business opportunities will be explored, and information on innovative technologies will be shared, equipping all participants to make informed decisions and chart a sustainable path forward.
