Kumar told Express, "financial assistance for the conversion of existing fishing vessels to Tuna long Liners, setting up of processing plants and modernisation of existing plants apart from extending financial assistance for establishing fish and prawn culture farms and promotion of commercial hatcheries for shrimp seed production are all on the cards."
He said 30 per cent of the cost will be taken care of by the MPEDA for installation of refrigerated sea water system and ice machine on board the fishing vessels.
"For setting up of processing plant machinery, Rs 50 lakh or 25 per cent of the total cost of the machinery will be given," he explained.
For establishing commercial hatcheries, 25 per cent of the capital cost or Rs 3 lakh maximum assistance will be given for a hatchery of 10-30 million postlarvae production capacity, the MPEDA chairman said.
Subsidies to boost marine exports
INDIA - The Marine Products Exports Development Authority (MPEDA), to boost marine exports and earn precious foreign exchange for the country, will extend subsidies to a host of marine related activities, its Chairman G Mohan Kumar said.