India has joined the growing list of countries that are supporting the growth of the aquaculture industry. It was announced today that the Cabinet Committee on Economic Affairs approved an amount of Rs7,522cr (roughly 1 billion USD) towards the creation of special fisheries and aquaculture infrastructure development fund (FIDF).
These funds can be allocated as loans to the aquaculture industry that have a maximum repayment period of 12 years, and will aid in achieving India’s goal of 15 million tons of aquaculture production by 2020.