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₹7,500 Crore FIDF gets 3 years Extension: Catalyzing India’s Fisheries Sector

Fisheries Infrastructure Development Fund (FIDF)
The Fisheries and Aquaculture Infrastructure Development Fund (FIDF) scheme has received a shot in the arm with the Union Cabinet approving the continuation of the program for another 3 years till 2025-26. As per latest notifications, the already approved fund size of Rs 7,522.48 crore and associated budget support of Rs 939.48 crore for interest subventions will be carried forward seamlessly under the extended timeline.
This decision comes at an opportune moment as the FIDF has already supported 27 vital infrastructure projects across India since its launch in 2018-19. The infusion of further capital will open up headroom to intensify development of cold chain networks, fish feed plants and mariculture facilities.
With the World Bank also committing additional investments worth USD 250 million, the FIDF now has the financial muscle to deliver on its ambitious production targets of 20 million metric tonnes per year.
India currently stands as the world’s third largest fish producing country, accounting for around 8% of global output as per FAO data. The fisheries sector in India has witnessed steady growth, with inland fish production registering an increased contribution from 36% in the mid-1990s to 70% recently.
Overall fish production reached an estimated 13.75 million metric tons in 2019-20. To further boost the fisheries sector, the Indian government established the dedicated Fisheries and Aquaculture Infrastructure Development Fund (FIDF) in 2018-2019 fiscal year. The FIDF has a total corpus of Rs 7,522.48 crore to facilitate upgrading critical infrastructure such as fishing harbors, cold storage facilities and fish feed plants. By strengthening infrastructure capabilities, the fund aims to push India’s domestic fish production to 20 million metric tons by the year 2022-2023. The establishment of FIDF serves as a key catalyst to unlock the sector’s growth potential in the coming years.
What is FIDF?
The Department of Fisheries launched the dedicated financial scheme called Fisheries and Aquaculture Infrastructure Development Fund (FIDF) in 2018-19. The scheme has an overall corpus of Rs 7,522.48 crore directed exclusively towards developing critical infrastructure to boost the fisheries sector. The establishment of FIDF serves three core objectives:
- Modernizing existing infrastructure and constructing new amenities for capture and culture fisheries – this includes building new fishing harbors, fish landing centers, hatcheries and aquaculture estates.
- Reducing post-harvest losses by upgrading storage and transport facilities like ice plants, cold storages and fish transport systems under an integrated cold chain network. Estimates indicate post-harvest losses account for over 10% wastage in fish yield annually.
- Providing financial aid to complete the large number of ongoing infrastructure projects across India’s 7,500 kilometer coastline and vast inland water resources. Prior initiatives had suffered due to lack of funds allocation in key states such as Bihar, West Bengal and Odisha among others.
By consolidating resources under one umbrella fund like FIDF, the Indian government aims to plug gaps in infrastructure development that will help realize the sector’s massive potential in a sustainable manner.
Fisheries Infrastructure Development Fund (FIDF) Details
The FIDF scheme provides concessional financing options to eligible state governments, union territories (UTs) and identified entities through approved nodal lending agencies. The National Bank for Agriculture and Rural Development (NABARD), National Cooperative Development Corporation (NCDC) and all scheduled banks serve as the key lending conduits. Through these nodal agencies, applicants can avail low-cost loans covering upto 80% of total infrastructure project costs.
Additionally, the FIDF program allows a 3% annual interest subvention as subsidy support from the central government against the loans disbursed for approved projects. This subvention gets adjusted to maintain lending rates at a concession between 5-8% annual interest for end-borrowers. Under the scheme, 21 Indian states and UTs have submitted project proposals worth Rs. 7,649 crore till date as per latest data. Of these, projects valued at Rs. 5,588 crore have received final approval with max loan quantum fixed at Rs. 3,738 crore according to eligibility norms. The wide coverage within a short 4 year timeframe highlights the rising adoption and benefits accrued through the focused FIDF program on-ground.
What Impact has Fisheries Infrastructure Development Fund (FIDF) made in India?
The FIDF scheme has started delivering tangible outcomes on ground as 27 infrastructure projects encompassing fishing harbors, safe landing centers and aquaculture have fully developed under the fund. These assets have augmented capacity and eased fishing for 3.3 lakh fisherfolk residing in coastal areas.
Specifically, over 8,100 fishing boats have gained access to modernized berthing docks that can withstand storms and ocean turbulence. The new harbors have also enhanced operational fish landing volumes by 1.09 lakh metric tonnes annually, boosting trade potential. Around 2.5 lakh direct and indirect job opportunities have opened up as well – indicating robust employment generation in associated sectors. The creation of end-to-end fisheries infrastructure has thus uplifted entire communities dependent on this space. With more projects in proposal and approval stage, the FIDF scheme is slated to surpass its intended targets across matrices ranging from fish output, gainful workforce support to harbor security as envisioned by planners.
What is the Future Scope of Fisheries Infrastructure Development Fund (FIDF)?
The Union Cabinet approved continued support for the FIDF program for another 3 years till 2025-26. The extended timeline will facilitate concentrated efforts on augmenting cold chain networks, fish hatcheries, feed mills and aquaculture farms among other areas.
These capacity upgrades hold significance considering India’s rising population and food requirements. According to projections by the National Fisheries Development Board (NFDB), Indian fisheries aim to achieve an ambitious output of 20 million metric tonnes annually. This goal translates to doubling current production volumes within a limited time span. The focus areas identified for the upcoming phase will be key in bridging the sizable demand-supply gap through technological innovations such as integrated solar-powered cold storages, GPS-enabled fish transport vehicles and domestically manufactured commercial feed. If executed as planned, India can consolidate its position among top global fish producers while boosting farmers’ incomes and ensuring nutrition security for millions of households in the post-pandemic world.
Who provides loans under FIDF scheme?
NABARD, NCDC and scheduled banks provide loans covering upto 80% project costs under FIDF.
What infrastructure created by completed FIDF projects?
27 completed FIDF projects have created fishing harbors and safe landing centers benefitting over 3 lakh fishers.
What is future focus of extended FIDF scheme?
Extended FIDF will focus more on cold chains, hatcheries and fish feed plants to boost India’s domestic fish production.