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Home  » Business » Marine exports to suffer loss of Rs 200 cr

Marine exports to suffer loss of Rs 200 cr

Source: PTI
December 29, 2004 14:57 IST
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The damage to thousands of mechanised boats and country craft in Tamil Nadu and Andhra Pradesh could affect the fishing industry, especially export of shrimps and other varieties, to the tune of Rs 200 crore, a top official of the fisheries department said on Wednesday.

Even if the damaged mechanised boats, costing about Rs 10 lakh each, are repaired, it would take three to six months for the fishing industry, wrecked by the Tsunami, to recover, Dr Ramakrishna, a scientist, told PTI.

"It is not only boats. Many fishermen have died and those who survived have lost their boats", he said and urged the finance ministry to prepare a loan package to help restart the industry, which earns about Rs 2500 crore (Rs 25 billion) in foreign exchange.

Tsunami: Waves of destruction

Dr Ramakrishna said lending money for the industry would be profitable, as boats had been heavily damaged, not only in India, but Sri Lanka, Indonesia and many other coastal areas.

"As fishermen in the Cuddalore-Nagapattinam belt have to start from scratch, they need more help," he said.

He also expected migration of fishermen, especially labourers working for boat owners, to other districts. However he did not expect any depletion of fish in the Palk Strait due to Tsunami.

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