LlFlC: India’s First Fisheries Business Incubator

On 17th November, 2021, the Union Ministry of Fisheries, Animal Husbandry and Dairying inaugurated India’s first-of-its kind fisheries Business Incubation Centre (LlFlC) in Haryana’s Gurugram to nurture fisheries start-ups under real market-led conditions.

• The National Cooperative Development Corporation (NCDC), an implementing agency for the LIFIC, has identified the first batch of ten incubatees from four states—Bihar, Himachal Pradesh, Gujarat and Maharashtra.

Impact: The incubation unit will provide handholding such as training, converting entrepreneurial ideas into business models and doling out seed money to the new as well as existing business entrepreneurs.

• The Centre will serve as a ‘milestone’ in future for the fisheries sector which is being given a big push under the central flagship Pradhan Mantri Matsya Sampada Yojana (PMMSY) launched in 2020.