The field of fish farming has now emerged as a new source of income for unemployed youth, especially in the farming of colorful fish. The hard work of scientists, farmers and businessmen has led to unprecedented growth in this field. Nowadays, colorful fish shops are opening rapidly in cities and small towns, which is motivating people to join this lucrative business.
There are about 2500 species of colorful fishes, of which more than 60% are freshwater colorful fish species. Among these, 30 types of freshwater colorful fishes have an important place in the global market, such as livebearers, tetras, angel fish, discus, goldfish, etc.
Globally, the retail business of coloured fish is more than $10 billion and its average annual growth rate is more than 10%. However, in India, the share of this sector is less than 1%. With the efforts of farmers and entrepreneurs as well as the support of government agencies, coloured fish farming has seen a lot of growth.
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How much will be the profit
If an initial investment of Rs 75,000 is made to start colourful fish farming, which includes Rs 25,000 for construction and Rs 50,000 for running expenses, a profit of Rs 50,000 can be earned annually by breeding the baby fish.
Training is essential
To start this business, it is necessary to get training first. It requires at least 1000 square feet of land. Other requirements include cement tanks, proper water arrangements, glass aquariums, adult fishes, fish feeders, medicines, artificial aeration machine and fishing nets.
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The need for small ponds
1-5 acres of land is sufficient for large scale colourful fish farming. Initially, breeding of fishes should be done and later, adopting egg-laying fishes as per the market demand can be beneficial. Apart from this, small mud ponds are required for abundance of plankton.
getting subsidy
The government is providing various types of subsidies for colorful fish farming under the Pradhan Mantri Matsya Sampada Yojana (PMMSY). A subsidy of up to Rs 3 lakh is available for backyard ornamental fish farming unit, Rs 8 lakh for medium-sized unit and Rs 25 lakh for integrated unit.
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