The International Finance Corporation (IFC) is all set to extend support to develop the fishery sector in Odisha by improving investment environment. This initiative would help the State formulate a robust fisheries policy, which would attract massive investment.
The Odisha Inclusive Growth Partnership (OIGP) is diversifying the State’s economy with a twin objective of employment and revenue generation. This could be achieved through a focused development of strategic sectors like agribusiness in general and the fishery sector in particular, said a senior official in Department of Fisheries & Animal Resources Development (DoFARD).
Regulatory measures such as leasing policies, incentives to farmers and firms, promotion of ecologically sound aquaculture practices, quarantine measures would go a long way not only in effective development of the fishery sector but also in facilitating the much-required private investment in the sector, said he. DoFARD Commissioner-cum-Secretary Bishnupada Sethi is in touch with IFC officials as the latter are in the process of appointing s consultant for the purpose, said the official.
In fact, the State Government is going ahead in formulating a comprehensive fisheries policy and is drafting a five-year action plan for this sector; so, the IFC consultant’s support would help the State administration in a major way, said the officer.
Bishnupada Sethi said private investors would be roped in for investment in the fisheries sector. Investors from both inside and outside the State would be invited for massive investments, said he. The new policy formulation would take into consideration the existing and previous efforts, potential of the State and the successful policy regimes elsewhere in the country and abroad, he added.