The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi approved extension of Fisheries Infrastructure Development Fund (FIDF) for another 3 years upto 2025-26 within the already approved fund size of Rs 7522.48 crore and budgetary support of Rs 939.48 crore.

In order to address the infrastructure requirement for fisheries sector, the union Government during 2018-19 created the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) with a total funds size of Rs 7522.48 crore. In the earlier phase of implementation of FIDF during the period from 2018-19 to 2022-23, a total 121 fisheries infrastructure projects with an investment cost of Rs. 5588.63 crore have been approved for creation of various fisheries infrastructures. Extension of FIDF will further intensifies development of various fisheries infrastructures like fishing harbours, fish landing centers, ice plants, cold storage, fish transport facilities, integrated cold chain, modern fish markets, Brood Banks, Hatcheries, aquaculture development, Fish Seed Farms, state of art of fisheries training centres, fish processing units, fish feed mills/plants, cage culture in reservoir, Introduction Deep Sea Fishing Vessels, disease Diagnostic Laboratories, Mariculture and Aquatic Quarantine Facilities.

FIDF will continue provides concessional finance to the Eligible Entities (EEs), including State Governments/Union Territories for development of identified fisheries infrastructure facilities through Nodal Loaning Entities (NLEs) namely National Bank for Agriculture and Rural Development (NABARD), National Cooperatives Development Corporation (NCDC) and All scheduled Banks. The Government of India provides interest subvention up to 3% per annum for the repayment period of 12 years inclusive of moratorium of 2 years for providing the concessional finance by the NLEs at the interest rate not lower than 5% per annum.

The Government of India also provides credit guarantee facility to the projects of entrepreneurs, individual farmers and cooperatives from the existing credit guarantee fund of Infrastructure Development Fund of Department of Animal Husbandry and Dairying.

The eligible entities under FIDF are State Governments / Union Territories, State Owned Corporations, State Government Undertakings, Government Sponsored, Supported Organizations, Fisheries Cooperative Federations, Cooperatives, Collective Groups of fish farmers & fish produces, Panchayat Raj Institutions, Self Help Groups (SHGs), Non-Governmental Organisations (NGOs), Women & their entrepreneurs, Private Companies and Entrepreneurs.

The completed 27 projects in its earlier phase of FIDF, created safe landing and berthing facilities for more than 8100 fishing vessels, enhancement of fish landing of 1.09 lakh tones, benefiting around 3.3 lakh fishers and other stakeholders and creation of 2.5 lakh direct and indirect employment opportunities.

Further, the extension of FIDF will further leverages the financial resources, encourages more investments in development of infrastructure for fisheries and aquaculture both from the public and private sector, thereby promoting economic development and expansion of fisheries and aquaculture sector. FIDF not only give impetus for creation of modern infrastructure for fisheries and aquaculture, it will also complement and consolidate the achievements of Pradhan Mantri Matsya Sampada Yojana (PMMSY) and Kisan Credit Card (KCC) and making it an important scheme for bringing in more stakeholder, investments, employment opportunities, augmentation of fish production and transformation in the Fisheries and Aquaculture Sector.

 

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The World This Week On India
February 18, 2025

This week, India reinforced its position as a formidable force on the world stage, making headway in artificial intelligence, energy security, space exploration, and defence. From shaping global AI ethics to securing strategic partnerships, every move reflects India's growing influence in global affairs.

And when it comes to diplomacy and negotiation, even world leaders acknowledge India's strength. Former U.S. President Donald Trump, known for his tough negotiating style, put it simply:

“[Narendra Modi] is a much tougher negotiator than me, and he is a much better negotiator than me. There’s not even a contest.”

With India actively shaping global conversations, let’s take a look at some of the biggest developments this week.

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AI for All: India and France Lead a Global Movement

The future of AI isn’t just about technology—it’s about ethics and inclusivity. India and France co-hosted the Summit for Action on AI in Paris, where 60 countries backed a declaration calling for AI that is "open," "inclusive," and "ethical." As artificial intelligence becomes a geopolitical battleground, India is endorsing a balanced approach—one that ensures technological progress without compromising human values.

A Nuclear Future: India and France Strengthen Energy Security

In a world increasingly focused on clean energy, India is stepping up its nuclear power game. Prime Minister Narendra Modi and French President Emmanuel Macron affirmed their commitment to developing small modular nuclear reactors (SMRs), a paradigm shift in the transition to a low-carbon economy. With energy security at the heart of India’s strategy, this collaboration is a step toward long-term sustainability.

Gaganyaan: India’s Space Dream Inches Closer

India’s ambitions to send astronauts into space took a major leap forward as the budget for the Gaganyaan mission was raised to $2.32 billion. This is more than just a scientific milestone—it’s about proving that India is ready to stand alongside the world’s leading space powers. A successful human spaceflight will set the stage for future interplanetary missions, pushing India's space program to new frontiers.

India’s Semiconductor Push: Lam Research Bets Big

The semiconductor industry is the backbone of modern technology, and India wants a bigger share of the pie. US chip toolmaker Lam Research announced a $1 billion investment in India, signalling confidence in the country’s potential to become a global chip manufacturing hub. As major companies seek alternatives to traditional semiconductor strongholds like Taiwan, India is positioning itself as a serious contender in the global supply chain.

Defence Partnerships: A New Era in US-India Military Ties

The US and India are expanding their defence cooperation, with discussions of a future F-35 fighter jet deal on the horizon. The latest agreements also include increased US military sales to India, strengthening the strategic partnership between the two nations. Meanwhile, India is also deepening its energy cooperation with the US, securing new oil and gas import agreements that reinforce economic and security ties.

Energy Security: India Locks in LNG Supply from the UAE

With global energy markets facing volatility, India is taking steps to secure long-term energy stability. New multi-billion-dollar LNG agreements with ADNOC will provide India with a steady and reliable supply of natural gas, reducing its exposure to price fluctuations. As India moves toward a cleaner energy future, such partnerships are critical to maintaining energy security while keeping costs in check.

UAE Visa Waiver: A Boon for Indian Travelers

For Indians residing in Singapore, Japan, South Korea, Australia, New Zealand, and Canada, visiting the UAE just became a lot simpler. A new visa waiver, effective February 13, will save Dh750 per person and eliminate lengthy approval processes. This move makes travel to the UAE more accessible and strengthens business and cultural ties between the two countries.

A Gift of Friendship: Trump’s Gesture to Modi

During his visit to India, Donald Trump presented Prime Minister Modi with a personalized book chronicling their long-standing friendship. Beyond the usual diplomatic formalities, this exchange reflects the personal bonds that sometimes shape international relations as much as policies do.

Memory League Champion: India’s New Star of Mental Speed

India is making its mark in unexpected ways, too. Vishvaa Rajakumar, a 20-year-old Indian college student, stunned the world by memorizing 80 random numbers in just 13.5 seconds, winning the Memory League World Championship. His incredible feat underscores India’s growing reputation for mental agility and cognitive excellence on the global stage.

India isn’t just participating in global affairs—it’s shaping them. Whether it’s setting ethical AI standards, securing energy independence, leading in space exploration, or expanding defence partnerships, the country is making bold, strategic moves that solidify its role as a global leader.

As the world takes note of India’s rise, one thing is clear: this journey is just getting started.