Government introduces FPOs in fishery sector

NEW DELHI: Agriculture Minister Radha Mohan Singh today said the government is encouraging setting up of Farmer Producer Companies (FPOs) in the fishery sector, a move that will boost fishermen's income.

The government has received proposals for 21 FPOs in major fish-producing states, he said in a statement.

The government's Small Farmers' Agri-Business Consortium (SFAC) under its venture capital assistance (VCA) scheme is providing financial help to set up FPOs.

Addressing the 22nd board meeting of the SFAC, Singh said VCA scheme is getting good response from agripreneurs and many proposals are in the pipeline for sanction.

"FPO is being introduced in the fishery sector," he said, adding that proposals for 21 fishery FPOs have been submitted.

Besides fishery, efforts are being made to promote setting up of FPOs in spices, especially in the northeastern region, he said.

SFAC and Spice Board is working with North Eastern Council (NEC) to form spice-based FPOs in Sikkim and Arunachal Pradesh, he added.

The minister further said awareness is being created about FPOs across the country. Even training is being given to the FPOs' board officials on the professional way of handling the companies.