Govt eyes export potential of Tilapia fish, funds firm to cultivate it for global markets
Technology Development Board, a statutory body under DST, will provide loan assistance of Rs. 8.42 crore, out of the total project cost of Rs. 29.78 crore to the Maharashtra-based Fountainhead Agro Farms.
- Aug 18, 2022,
- Updated Aug 18, 2022 3:40 PM IST
Considering the high export potential of the Tilapia fish, which has emerged as one of the most productive and internationally traded food fish in the world, Department of Science and Technology (DST) will fund Maharashtra-based Fountainhead Agro Farms Private Limited for its ‘Advanced, Intensive, All Male Tilapia Aquaculture Project with Israeli Technology’.
Technology Development Board, a statutory body under DST, will provide loan assistance of Rs. 8.42 crore, out of the total project cost of Rs. 29.78 crore to the company.
“Fisheries sector holds vast potential for export, especially the ‘Tilapia Fish’ considering its huge demand in the global market. Also, the imported technology being ‘one of its kind’ will be a great addition to Pradhan Mantri Matsya Sampada Yojana (PMMSY), the ambitious scheme of the Prime Minister, which aims to double the export earnings to Rs.1,00,000 crore from fisheries sector,” Rajesh Kumar Pathak, Secretary, TDB said.
In order to facilitate the culture of Tilapia in India, Fountainhead Agro Farms plans to set up a complete production line, ranging from breeding to full fish in Mudhol (Karnataka). The company aims to produce 500 tons of Tilapia, to be grown from the imported parent broodstock ‘Hermon’ from Nir David Fish Breeding Farm, Israel.
Hermon is a hybrid of two selected strains of Tilapia, namely Oreochromis Niloticus (Male) and Oreochromis Aureus (Female), and is known for special characteristics such as high growth rate; resistance to low temperature; light (attractive) colour; all hybrid fry progeny of males only, without the conventional system of usage of hormones.
The company has adopted advanced Israeli Technology from Aquaculture Production Technology Limited (APTIL), Israel (under Technology Service Agreement signed in October, 2020) for land locked locations through closed loop farming for arid zone with seasonal water supply from rivers, which may be replicated throughout India in multiple arid landlocked locations with reasonable water sources. In order to suit Indian conditions, the complete engineering of the facility is tuned as per the requirement of site conditions such as land availability, water availability, weather conditions, availability of the surrounding resources, soil conditions, topography, the government said.
Fisheries is one of the fastest growing sectors amongst the primary producing sectors. The sector plays a vital role in economic and overall development of the country, also referred as the “sunrise sector”, it is poised to bring in immense potential through equitable and inclusive growth, the Ministry of Science & Technology said in a statement.
The sector is recognised as an engine for providing employment to 14.5 million people and sustaining livelihood for 28 million fishermen community of the country. Thus, the sector urges young entrepreneurs of the country to come forward and offer solutions, resolving on-ground challenges through technology interventions and innovative solutions, the government said.
Union cabinet recently came up with ‘Pradhan Mantri Matsya Sampada Yojana (PMMSY)’ to bring about ‘Blue Revolution’ through sustainable and responsible development of fisheries sector in India. The scheme targets to enhance fish production to 220 lakh metric tons by 2024-25, at an average annual growth rate of about 9 per cent. The ambitious scheme also aims to double the export earnings to Rs 1,00,000 crore and generate about 55 lakh direct and indirect employment opportunities in fisheries sector over a period of next five years.
Considering the high export potential of the Tilapia fish, which has emerged as one of the most productive and internationally traded food fish in the world, Department of Science and Technology (DST) will fund Maharashtra-based Fountainhead Agro Farms Private Limited for its ‘Advanced, Intensive, All Male Tilapia Aquaculture Project with Israeli Technology’.
Technology Development Board, a statutory body under DST, will provide loan assistance of Rs. 8.42 crore, out of the total project cost of Rs. 29.78 crore to the company.
“Fisheries sector holds vast potential for export, especially the ‘Tilapia Fish’ considering its huge demand in the global market. Also, the imported technology being ‘one of its kind’ will be a great addition to Pradhan Mantri Matsya Sampada Yojana (PMMSY), the ambitious scheme of the Prime Minister, which aims to double the export earnings to Rs.1,00,000 crore from fisheries sector,” Rajesh Kumar Pathak, Secretary, TDB said.
In order to facilitate the culture of Tilapia in India, Fountainhead Agro Farms plans to set up a complete production line, ranging from breeding to full fish in Mudhol (Karnataka). The company aims to produce 500 tons of Tilapia, to be grown from the imported parent broodstock ‘Hermon’ from Nir David Fish Breeding Farm, Israel.
Hermon is a hybrid of two selected strains of Tilapia, namely Oreochromis Niloticus (Male) and Oreochromis Aureus (Female), and is known for special characteristics such as high growth rate; resistance to low temperature; light (attractive) colour; all hybrid fry progeny of males only, without the conventional system of usage of hormones.
The company has adopted advanced Israeli Technology from Aquaculture Production Technology Limited (APTIL), Israel (under Technology Service Agreement signed in October, 2020) for land locked locations through closed loop farming for arid zone with seasonal water supply from rivers, which may be replicated throughout India in multiple arid landlocked locations with reasonable water sources. In order to suit Indian conditions, the complete engineering of the facility is tuned as per the requirement of site conditions such as land availability, water availability, weather conditions, availability of the surrounding resources, soil conditions, topography, the government said.
Fisheries is one of the fastest growing sectors amongst the primary producing sectors. The sector plays a vital role in economic and overall development of the country, also referred as the “sunrise sector”, it is poised to bring in immense potential through equitable and inclusive growth, the Ministry of Science & Technology said in a statement.
The sector is recognised as an engine for providing employment to 14.5 million people and sustaining livelihood for 28 million fishermen community of the country. Thus, the sector urges young entrepreneurs of the country to come forward and offer solutions, resolving on-ground challenges through technology interventions and innovative solutions, the government said.
Union cabinet recently came up with ‘Pradhan Mantri Matsya Sampada Yojana (PMMSY)’ to bring about ‘Blue Revolution’ through sustainable and responsible development of fisheries sector in India. The scheme targets to enhance fish production to 220 lakh metric tons by 2024-25, at an average annual growth rate of about 9 per cent. The ambitious scheme also aims to double the export earnings to Rs 1,00,000 crore and generate about 55 lakh direct and indirect employment opportunities in fisheries sector over a period of next five years.