Analyzing the economic benefits of sustainable fisheries management
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Abstract
A significant portion of the state's economically disadvantaged people depends on the fishing industry for both their livelihood and food security, making it one of the state's major food producing sectors. Its importance has grown in recent years, and it has made a significant contribution to the State and national economy in terms of foreign exchange profits, rural employment creation, and nutritional security and livelihood. There are three sub-sectors of fisheries: freshwater, brackish water, and marine. In addition to providing wholesome food for all of humanity, fishing has historically been a significant source of income for both coastal and inland fishing communities. Over the past three decades, one of the fastest-growing food production systems in India has been fisheries and aquaculture, which are thriving economic sectors. They have made a huge, albeit understated, contribution to the agricultural (4.6%) and national (1.3%) economies, to livelihood and nutritional security, to the creation of jobs for 11 million people, and to foreign exchange revenues (more than Rs. 8000 crores). The primary obstacle that most fisherman face when trying to raise money is their incapacity to provide loan security. Security is crucial even when receiving financial aid from government banks.
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