New Delhi, Dec 14 (NationPress) A recently convened investors' meet in Lakshadweep has sparked significant enthusiasm, with investment proposals exceeding Rs 500 crore focused on tuna and deep-sea fisheries, seaweed cultivation, ornamental fisheries, and waste management, as per an official announcement made on Sunday.

To enhance investment facilitation and simplify procedures, a single-window system is being established to ensure seamless project approvals in Lakshadweep, the statement revealed.

Over the weekend, 22 investors and prominent entrepreneurs from all over the country gathered in the Lakshadweep Islands, aiming to tap into the vast potential of Lakshadweep’s Blue Economy.

This inaugural investors’ meet was organized by the Centre’s Department of Fisheries on Saturday at the Bangaram Islands in Lakshadweep. The meeting saw the presence of Minister of Fisheries, Animal Husbandry & Dairying Rajiv Ranjan Singh and Minister of State George Kurian.

The Department of Fisheries pointed out various areas ripe for investment, including tuna fishing, offshore seaweed cultivation, hatcheries, brood banks, integrated units, and offshore cage farming.

Lakshadweep boasts tremendous investment prospects in tuna and deep-sea fisheries, as it encompasses nearly 20 percent of India’s Exclusive Economic Zone, which harbors rich tuna stocks and other high-value species. However, the current output of approximately 15,000 tonnes is merely a fraction of the potential one lakh tonnes. By establishing a modern value chain that includes fishing, certification, branding, and export-oriented processing, investors can position Lakshadweep tuna as a premium product in international markets under a strong identity like 'Lakshadweep Sustainable Tuna', the statement emphasized.

The region's traditional fishing methods align well with global eco-labeling systems such as the Marine Stewardship Council (MSC), unlocking access to high-end markets and premium pricing. There are also opportunities in infrastructure development, including smart fishing harbors, cold chain facilities, processing units, and fleet modernization through advanced multi-gear deep-sea fishing vessels equipped with onboard storage and processing, along with mother vessels for catch aggregation and transportation. These initiatives collectively promise to transform Lakshadweep into a hub for sustainable, globally competitive tuna fisheries, the statement elaborated.

The expansive lagoon area of Lakshadweep, measuring over 4,200 square kilometers, provides an optimal environment for seaweed cultivation. With global demand for seaweed products rapidly increasing, the region presents significant investment opportunities in farming systems, nurseries, biomass processing, and bioproduct manufacturing. As a recognized Seaweed Cluster, Lakshadweep has laid a strong foundation under the PMMSY through initiatives like a Seaweed Seed Bank and a Seaweed Hatchery, paving the way for accelerated sectoral growth.

In addition, the Lakshadweep administration is crafting a leasing policy to promote offshore seaweed farming by the private sector. Investors can leverage this momentum by expanding seaweed farming, processing capabilities, logistics networks, and market connections to position Lakshadweep products in the global marketplace. Additionally, seaweed farming offers environmental advantages such as carbon sequestration and enhancing marine biodiversity, while supporting various industries including food, pharmaceuticals, and cosmetics.

Lakshadweep is also home to nearly 300 species of marine fish suitable for the ornamental trade, spanning around 35 families such as wrasses, damselfish, cardinalfish, groupers, surgeonfish, butterflyfish, goatfish, blennies, scorpionfish, triggerfish, and squirrelfish. This rich biodiversity positions the islands as an ideal location for developing marine ornamental hatcheries, broodstock development facilities, and integrated rearing units aimed at reducing reliance on wild-caught species. With the growing global demand for ornamental fish, investors have a chance to engage in the lucrative aquarium trade by establishing sustainable breeding systems and export-oriented enterprises, the statement further added.

Lakshadweep also possesses immense potential for offshore cage farming, utilizing its vast Exclusive Economic Zone of nearly 4 lakh square kilometers to promote large-scale, sustainable mariculture. This sector is bolstered by successful pilot initiatives demonstrating its viability in other regions of the country, such as Odisha, the statement concluded.