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Call to adopt innovative technology in aquaculture

Photo: T. Singaravelou

Presenting facts: Chief Regional Manager of Indian Overseas Bank Geetha P. Shetty addressing a seminar in Puducherry on Tuesday. —

PUDUCHERRY: Chief Regional Manager of Indian Overseas Bank Geetha P. Shetty has stressed the need for adopting innovative technologies in aquaculture to tap its huge potential .

Speaking at a seminar on ‘Shrimp culture under contract farming’ conducted here on Tuesday, she said that the contribution of fisheries sector to Gross Domestic Product was 1.07 per cent. The annual export earning from the sector was to the tune of Rs. 7,200 crore, which accounts to 3 per cent of total exports.

The bank was keen on financing aquaculture projects, she said, adding that they recently entered into an understanding with Amalgam Marine Harvests Limited, Chennai.

The bank would extend a loan of Rs. 2,32,000 for taking up shrimp culture project, she said.

The bank’s priority sector advance amounted to Rs. 21,957 crore as on September 2008.

Director of Fisheries Department G. Ramalakshmi said that the department had several projects to fund marine products. A scheme was recently evolved to provide financial assistance for prawn culture, she said.

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