LlFlC: India’s First Fisheries Business Incubator Launched in Gurugram

• 17 Nov 2021

The Union Minister of Fisheries, Animal Husbandry and Dairying recently inaugurated India’s first-of-its kind, dedicated business incubator to be known as LINAC (Laxmanrao Inamdar National Academy for Co-operative Research & Development) – NCDC (National Cooperative Development Corporation)

• Fisheries Business Incubation Centre (LlFlC) in Haryana’s Gurugram to nurture fisheries start-ups under real market-led conditions.
• 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 last year.
• 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 keen to make big in the segment.
• To begin with, 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. Out of them, 6 are from newly-created Fish Farmers Producer Organizations with the support of the financial grant under the PMMSY.

Fisheries Sector in India

• Fisheries is a sunrise industry in India, growing at seven per cent annually.
• At present, fish production is 130 lakh tones and export worth Rs 46,000 crore.
• The Govt. has set a goal of 22 million tonnes of fish production and export to the tune of Rs one lakh crore by 2025.
• Setting up this first of business incubation centre for fisheries in India is a step in this direction to achieve the ambitious goal.