report of the working group on improvement of banking services

55
national resources from <strong>the</strong> EEZ <strong>of</strong>f <strong>the</strong> islands <strong>of</strong> UTL, without affecting <strong>the</strong> livelihood security <strong>of</strong> <strong>the</strong> people <strong>of</strong>
<strong>the</strong> islands, needs to be addressed. The case <strong>of</strong> Yellowfin Tuna is particularly relevant in this regard. Planned
exploitation <strong>of</strong> <strong>the</strong>se resources will help increasing our fish production, export earnings and employment. The
global resurgence visible in <strong>the</strong> market <strong>of</strong> various Tuna products like Canned Tuna, Sashmi Tuna, Katsuobushi
etc should be encashed for <strong>the</strong> benefit <strong>of</strong> UTL.
As will be seen, <strong>the</strong> principal focus has to be on value-addition so that <strong>the</strong> rich fisheries resources in <strong>the</strong>
islands can be exploited effectively for <strong>the</strong> economic development <strong>of</strong> <strong>the</strong> islands. Moving up <strong>the</strong> value chain
would yield a considerable amount <strong>of</strong> positive employment generation and enable <strong>the</strong> islanders to get much
greater economic return for <strong>the</strong> marine wealth around <strong>the</strong>m. A judicious mix <strong>of</strong> government, private sector and
public sector intervention including investment from <strong>the</strong> mainland would yield better return and <strong>the</strong> banks would
also be entitled to find suitable opportunities for credit deployment, fill up <strong>the</strong> funding gaps and contribute to <strong>the</strong>
economic development <strong>of</strong> <strong>the</strong> islands to a greater extent.
Suggestions for fisheries development
5.15 (i) Drive may be launched for <strong>the</strong> quality upgradation and product diversification for Masmin with <strong>the</strong> help
<strong>of</strong> MPEDA, CIFT and if required with collaborators from abroad to develop high value Skipjack products like
Katsuobushi.
(ii) Initiatives may be commenced for <strong>the</strong> introduction <strong>of</strong> Malddevian type pole & line boats with higher
operational efficiency to achieve faster development <strong>of</strong> <strong>the</strong> Skipjack fishery.
(iii) Bankers may initiate proactive steps for providing adequate <strong>working</strong> capital for <strong>the</strong> traditional fishermen
engaged in <strong>the</strong> Skipjack-Masmin sector to free <strong>the</strong>m from dependence <strong>of</strong> middlemen.
(iv) Modern canneries may be established in all <strong>the</strong> islands.
(v) Blast freezers and cold storages <strong>of</strong> adequate capacities may be established at Minicoy and Agati to handle
<strong>the</strong> fish landings effectively.
(vi) All passenger ships <strong>of</strong> UTL should be fitted with reefer holds <strong>of</strong> adequate capacity for transport <strong>of</strong> fish from
islands to mainland.
(vii) There is a need to initiate inter state/ inter agency discussions to chart out a road map for <strong>the</strong>
development <strong>of</strong> <strong>the</strong> untouched Yellowfin Tuna sector for Shasmi market. The sector require heavy investment
for infrastructure and fishing vessels.
(viii) In sectors such as Yellowfin Tuna fishery requiring heavy investment and where <strong>the</strong> UTL fishermen lack
expertise, investment from <strong>the</strong> mainland may be allowed.