Cabinet Approval: India-Iceland MoU in Sustainable Fisheries Development

The Union Cabinet on February 12, 2020 approved thea Memorandum of Understanding (MoU) signed between India and Iceland in the field of Fisheries.  The MoU was signed on September 10, 2019.

The salient features of the MoU are:

• Creation of facilities for exchange of scientists and technical experts and their proper placement, especially in areas of estimating Total Allowable Catches in off shore and deep sea areas;
• Provision of training to fisheries professionals from key fisheries institutions in the various management aspects on areas of modern fisheries management and fish processing
• Exchange of scientific literature research findings and other information.
• Exchange of experts / expertise to study the prospects of fishing. Processing and marketing of products from high seas fisheries for entrepreneurship development.

Significance

• The MoU will strengthen the existing friendly relations between India and Iceland and will enhance consultation and cooperation on Fisheries including consultation on bilateral issues.

Fisheries in India

• According to the Economic Survey 2020, fisheries contribute to 6.58% of India’s GDP along with agriculture and forestry.
• The export of marine products for the year 2018-19 was 13.92 lakh tonnes.
• The survey also says that the total fish production of the country stood at 13.42 million tonnes in the year 2018-19.
• The major fisheries resources of India is spread across the vast coast line.
• It stands at 2.02 million square km of the Exclusive Economic Zone.
• The GoI in 2018-19 allocated Rs 7,522 crores of rupees towards Fisheries and Aquaculture Development Fund (FIDF).

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