Bhubaneswar: A strong emphasis was placed on blue economy, sustainability, climate action, and science-led industrial growth, positioning India’s marine and seafood sectors as strategic pillars of future economic expansion, at the Vibrant Gujarat Regional Conference which concluded on Monday.
Representing Odisha as a special invitee, Group Managing Director of Magnum Group of Companies Prem Sanker Satpathy who is a serial investor and mentor in blue economy startups, highlighted Odisha’s progress in fisheries development, environmental protection, climate initiatives, skill development, and employment generation. While India is already a global seafood superpower, exporting large volumes of shrimp and fish, the country continues to export a significant share as raw or minimally processed products, leaving substantial economic value untapped, he added.
He participated in the conference to explore collaboration opportunities between Odisha and Gujarat, particularly in seafood processing, marine biotechnology, climate-resilient practices, and value-added exports.
Addressing the gathering, Satpathy emphasized that shifting even 30–40 per cent of seafood exports into super value-added formats—including ready-to-cook, ready-to-serve, and ready-to-eat products —could enhance export value two to five times, without increasing fishing or aquaculture pressure. He further underlined the potential of seafood by-products such as shells, heads, and skins to be converted into omega-3 oils, collagen, chitin, bioplastics, enzymes, and nutraceuticals, enabling 100 per cent utilization and zero-waste processing, in line with global best practices followed in countries like Norway and Japan.
On the policy front, Satpathy called for a mission-mode National Blue Biotechnology framework, smarter regulatory mechanisms such as single-window clearances and regulatory sandboxes, and stronger public–private partnerships linking government, research institutions, industry, and coastal communities. He also urged the Government of Gujarat and the Government of India to consider dedicated policy support and incentive schemes to help existing large seafood exporters modernise and remodel their current facilities for high-value consumer-ready products, thereby driving economic growth and employment without creating environmental imbalance through increased fishing or farming.
His suggestions on regulatory sandboxes and innovation-led PPPs received positive appreciation from Director Generals and Advisors of the Union Ministry of Science & Technology, senior policymakers, and industry leaders present at the conference.
His presence at Vibrant Gujarat underscores Odisha’s growing role in India’s blue economy narrative and strengthens the case for deeper inter-state collaboration to transform India into a global leader in value-added seafood and marine bio-industries.
The conference was inaugurated by Prime Minister Narendra Modi and attended by Bhupendra Patel, Chief Minister of Gujarat, Harsh Sanghavi, Deputy Chief Minister of Gujarat, Piyush Goyal, Union Minister of Commerce & Industry, Nimuben Bambhaniya, Union Minister and Arjun Modhwadia, Cabinet Minister for Forest and Environment, Science & Technology, and Climate Change, Government of Gujarat.
The event also witnessed the presence of India’s foremost industrial leaders, including Mukesh Ambani and Gautam Adani, alongside Members of Parliament, MLAs, senior bureaucrats, and international dignitaries such as H.E. Ms. Jacqueline Mukangira, High Commissioner of Rwanda to India, and H.E. Dr. Oleksandr Polishchuk, Ambassador of Ukraine to India, underlining the global and cross-sectoral importance of the conference.