NCDC Current Affairs - 2019

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India International Cooperatives Trade Fair held in India

The First Ever India International Cooperatives Trade Fair (IICTF) will commence from 11 October 2019 at Pragati Maidan in New Delhi. The three day fair is scheduled from 11-13 October 2019. It is unique initiative that provides single platform to farmers, artisans & other members of cooperatives directly to global trade arena.

Key Highlights of IICTF

It is conceived as a major platform to promote exports of Indian cooperative produce and is packed with exhibitions, B2B/C2C meetings, conferences, cultural programmes etc.

Objective: (i)To double farmers’ income by promoting cooperative to cooperative trade within India and abroad (ii) To promote exports of key agriculture commodities and products leading to enhanced rural and farm prosperity.

Why Cooperative sector? This initiative is part of Agriculture Export Policy (AEP) 2018 which aims at doubling agriculture export and integrating Indian farmers and agriculture products with global value chains. As per AEP 2018, the Cooperative sector has big role to play in doubling agriculture exports from present $30 billion to $60 billion by 2022.

Organizations Involved: IICTF has been steered by National Cooperative Development Corporation (NCDC) with support of one international organization-NEDAC (Network for the Development of Agricultural Cooperatives), 3 Ministries, 4 State Governments and several apex level Indian cooperative organizations.

Fact Sheet: Fisheries and Aquaculture Infrastructure Development Fund (FAIDF)

To double farmers’ income by 2022 the Cabinet Committee on Economic Affairs (CCEA) has approved creation of FAIDF recently. The proposal for creation of fund was made in budget 2018-19.

Salient features of the fund

  • The main aim is to boost fish production to achieve the target of producing 15 million tonnes of fish production by 2020 and 20 million tonnes by 2022-23 from current production of 11.4 million tonnes. The aim to achieve this target was set under Blue revolution.
  • The nodal agencies for the fund will be National Bank for Agriculture and Rural Development (NABARD), National Cooperatives Development Corporation (NCDC) and scheduled banks.
  • The fund being raised by nodal loaning entities (NLE).
  • The estimated fund size is about 7522 crore that will benefit country in both inland and marine fisheries areas.
  • The fund will involve in attracting private investment and technologies in creation and management of fisheries all around the country.

Indian Fish Market

Fisheries in India is an important economic activity and emerging sector. India’s fish production is estimated at around 12 million tonnes annually. India has become the second largest fish producing and aquaculture industry in the world. In aquaculture, India is second to china with a share of 6% in global aquaculture. The fisheries sector employed over 14.5 million people directly and many more indirectly. At present, Fish production contributes to around 1% to GDP of country and 5% to agricultural GDP of country. India exports one tenth of its Fish produced. The contribution of fish from the seas has lowered now and the share is rising from inland farming.

The Indian government has taken a lot of other efforts to boost up Indian aquaculture market such as Integrating all the existing schemes under Blue Revolution, Establishing  ‘Brood bank’ for commercially important species to ensure production and supply of certified broods to hatcheries in the country, developing cold water fishery, improving the manpower requirements of the fisheries programs. Overall, fisheries is a sunrise sector having a lot of future growth possibilities. All the 3 sub sectors viz. Inland, Aquaculture and Marine fisheries have a lot of scope for improvement. The recent step of creating FAIDF is a praised step to boost the fisheries sector to the desired level.