Cabinet Approval:India-Iceland MoU in Sustainable Fisheries Development
The Union Cabinet approved the Memorandum of Understanding signed between India and Iceland in the field of fisheries.
The countries had signed agreements in September 2019, to develop inland fisheries. According to the agreement, the countries agreed to create facilities of technical experts and scientists in shore areas and deep sea areas. They also agreed on exchange of scientific research literature, scientific experts in the field of fisheries. The agreement strengthens bilateral cooperation between India and Iceland.
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).