Context: Recently, the Union Minister laid the foundation stone for the Modernisation of Paradip Fishing Harbour.

News:

• Paradip Fishing Harbour is poised for a transformation as the Central Government greenlights the Modernisation and Upgradation project, receiving 100% central financial assistance under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
• The Paradip Port Authority is spearheading the implementation of this fishing harbor initiative, with an anticipated completion period of 18 months.

Paradip Port:

• Situated at the confluence of Mahanadi and the Bay of Bengal in Jagatsinghpur District, Odisha, Paradip Port is a natural, deep-water port.
• It holds significance as one of the Major Ports and a pivotal fishing harbor in Odisha, leveraging the advantages of soft underwater soil, allowing for flexible depth adjustments based on requirements.

Modernisation Goals:

The modernisation endeavor aims to enhance hygiene, aesthetics, and crucial infrastructure facilities while incorporating mechanized processes for fish handling.

About Pradhan Mantri Matsya Sampada Yojana (PMMSY):

PMMSY is a strategic scheme fostering the Blue Revolution by addressing critical gaps in the fisheries value chain, spanning fish production, productivity, quality, technology, post-harvest infrastructure, and marketing.

It operates under the umbrella of two distinct components: the Central Sector Scheme (CS) and the Centrally Sponsored Scheme (CSS).

Objectives of PMMSY:

• Elevate the contribution of the fisheries sector to Agriculture GVA to approximately 9% by 2024-25, up from 7.28% in 2018-19.
• Foster private investment and entrepreneurial growth within the fisheries sector.
• Modernize and fortify the value chain, emphasizing enhanced traceability and establishing a robust fishery demand.

Government Initiatives for Port Infrastructure Development in India:

Sagarmala Project:

This initiative champions port-led development by harnessing India's coastline, navigable waterways, and strategic positioning on crucial international maritime trade routes. Major ports, managed by the Union Ministry of Shipping, handle international trade, while minor ports, under state government management, focus on coastal and fishing trade.

Project UNNATI:

Aiming to benchmark the operational and financial performance of the 12 major ports against selected Indian private ports and international counterparts, Project UNNATI identifies areas for improvement.

Passage of Major Port Authorities Act 2021:

This legislative act endeavors to decentralize decision-making processes, reinforcing excellence in governance across major ports.

SAROD-Ports:

The SAROD-Ports initiative concentrates on facilitating dispute resolution through arbitrations within the maritime sector, encompassing both ports and shipping.