Investors ready to pump Rs 500 crore into Lakshadweep’s Blue Economy

New Delhi: An investors’ meet held in Lakshadweep has generated a strong interest, with more than Rs 500 crore worth of investment proposals in the areas of tuna and deep-sea fisheries, seaweed cultivation, ornamental fisheries, and waste management, according to an official statement issued on Sunday.

To facilitate investment and streamline processes, a single-window system is being developed for smooth project approvals in Lakshadweep, the statement said.

As many as 22 investors and key entrepreneurs, from across the country, participated in the investors’ meet in the Lakshadweep Islands held over the weekend with the aim to unlock the immense potential of Lakshadweep’s Blue Economy.

This first-ever investors’ meet was organised by the Centre’s Department of Fisheries on Saturday in the Bangaram Islands of Lakshadweep. The meeting was attended by Minister of Fisheries, Animal Husbandry & Dairying Rajiv Ranjan Singh and Minister of State George Kurian.

The Department of Fisheries highlighted areas for investment opportunities in tuna fishing, offshore seaweed cultivation, hatcheries, brood banks, integrated units, and offshore cage farming.

Lakshadweep offers immense potential for investment in tuna and deep-sea fisheries, as it covers a nearly 20 per cent area of India’s Exclusive Economic Zone, which supports rich stocks of tuna and other high-value species. Despite this, the current production of around 15,000 tonnes represents only a fraction of the estimated one lakh tonnes potential. By developing a modern value chain that includes fishing, certification, branding and export-oriented processing, investors can help position Lakshadweep tuna in premium international markets under a strong identity such as “Lakshadweep Sustainable Tuna”, the statement said.

Traditional fishing practices in the region make it ideal for global eco-labelling systems like the Marine Stewardship Council (MSC), which can unlock access to high-end markets and premium pricing. Opportunities also exist in infrastructure development, including smart fishing harbours, cold chain facilities, and processing units, as well as fleet modernisation through advanced multi-gear deep-sea fishing vessels equipped with onboard storage and processing, and 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 explained.

Lakshadweep’s vast lagoon area of more than 4,200 square kms provides an ideal environment for seaweed cultivation, and with global demand for seaweed-based products rising rapidly, the region presents significant investment opportunities in farming systems, nurseries, biomass processing, and bioproduct manufacturing. As a notified Seaweed Cluster, Lakshadweep has already established a strong foundation under the PMMSY through initiatives taken, such as a Seaweed Seed Bank and a Seaweed Hatchery, paving the way for accelerated sectoral growth.

Besides, the Lakshadweep administration is also working on a leasing policy to facilitate offshore seaweed farming by the private sector. Investors can capitalise on this momentum by expanding seaweed farming, processing capacities, logistics networks, and market linkages to position Lakshadweep products in global markets. Beyond economic potential, seaweed farming offers environmental benefits such as carbon sequestration and marine biodiversity enhancement, while supporting diverse 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 makes the islands an ideal destination for establishing marine ornamental hatcheries, broodstock development facilities, and integrated rearing units aimed at reducing dependence on wild-caught species. With growing global demand for ornamental fish, investors have an opportunity to tap into the lucrative aquarium trade by developing sustainable breeding systems and export-oriented enterprises, the statement further said.

Lakshadweep also holds immense potential for offshore cage farming, leveraging its vast Exclusive Economic Zone of nearly 4 lakh square km to promote large-scale, sustainable mariculture. This sector is backed by successful pilot initiatives that demonstrate its viability in other areas of the country, such as Odisha, the statement added.

IANS