Last updated on Mar, 22 2021
Andaman and Nicobar State Report | December, 2020
Andaman & Nicobar (A&N) is an important hub for the economic strategic cooperation of India. The role of A&N in India's strong ties with East Asian countries and other sea-related countries is very critical under the Act-East Policy and this is likely to grow. To improve development of projects in the state, the Island Development Agency was created 3 years ago.
Submarine Cable will assist A&N in providing cheaper and better connectivity and Digital India's advantages, especially in improving online education, telemedicine, banking, online trading and tourism.
Development of a deep internal port draught and proposal to build a trans-shipment port in Great Nicobar at an estimated cost of approximately Rs. 100 billion (US$ 1.36 billion) will enable large ships, along with new employment opportunities, to anchor and increase India's share in maritime trade.
The island's blue economy such as fisheries, aquaculture, and seaweed farming will accelerate in line with the growth of modern infrastructure in A&N.
In 2019-20, the total merchandise exports from A&N stood at US$ 1.30 million.
12 Andaman and Nicobar Islands were chosen for high-impact projects, with focus on improving the region's trade in sea-based, organic and coconut-based products.
The island's blue economy such as fisheries, aquaculture and seaweed farming will accelerate in line with the growth of modern infrastructure in A&N.
In 2018-19, the estimated potential of fish production in A&N stood at 41.67 thousand tonnes.
NABARD has taken up 14 agricultural projects with a gross refinancing of more than Rs. 1.2 billion (US$ 16.32 million). The bank is also encouraging organised farming on the islands and focusing on the growth of skills.
In the Andaman and Nicobar Islands, the NABARD regional office has a credit plan of about Rs. 6 billion (US$ 81.59 million) for FY 2019-20.
The islands have been recognised as an eco-friendly tourist destination.
In 2019, foreign and domestic tourist visits in the state stood at 16,206 and 5,05,398, respectively.
Four tourism-based projects have been initiated in A&N for implementation through the Public-Private Partnership (PPP) model to attract investment and technical & management expertise from the private sector.