In a significant push to strengthen fisheries cooperatives under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), the Government of India has extended major financial support to the Sri Sengazhaneeramman Fisherwomen Cooperative Society, Puducherry.
The cooperative has received approval for a PMMSY subsidy of Rs 72 lakh for the acquisition of a deep-sea fishing vessel and related accessories.
To facilitate implementation of the project, the National Cooperative Development Corporation (NCDC) has additionally sanctioned Rs 88 lakh as term loan assistance, taking the total project support to Rs 1.6 crore. The initiative is expected to substantially enhance the cooperative’s operational capacity by enabling access to modern deep-sea fishing infrastructure.
The project will allow cooperative members to access deeper fishing grounds, adopt safer and more efficient fishing practices, and improve income generation and livelihood security for fisherwomen. It also contributes to technological upgradation and expansion of India’s deep-sea fishing capabilities under PMMSY.
The approval reflects the Government’s vision of “Sahkarita Se Samriddhi”, positioning cooperatives as key drivers of inclusive growth and sustainable development in the country’s blue economy.