Revived Fisheries Devt Corp to tap modern retailing

State govt has released Rs 5 cr this year for KFDC's retail initiatives.

The Karnataka Fisheries Department is chalking out new marketing initiatives to revive its loss-making Karnataka Fisheries Development Corporation (KFDC).

As a step towards its revival, the state government has released Rs 5 crore this year in addition to Rs 4.12 crore released last year, said H S Veerappa Gowda, Director, Karnataka Department of Fisheries.

"On receipt of Rs 5 crore, the department along with the corporation, is working out a plan to take up initiatives like marketing fresh fish and introduction of frozen and processed products to the market," he added.

The revival plan is to explore KFDC's entry into modern format retailing by broadening its product portfolio and creating additional revenue streams, aside of traditional fish canteens or stalls in urban areas.

The fisheries department is also in the process of identifying 10 districts in the state to identify ponds to supply fresh fish to the market and also to roll out programmes to promote fish consumption.

The state government last year has approved a Rs 10 crore package to revive KFDC. Gowda said that the first instalment was utilised to clear the corporation's debt and offer a voluntary retirement scheme (VRS) to cut excess flab in the department.

As part of the new initiatives, KFDC is also to take up modernisation of supply chain infrastructure by installing ice plants and diesel bunks in 10 districts before it takes up large scale marketing and promotion of fish consumption in the state.

"The revival of KFDC is also looked upon from its employment potential in the supply chain as well as at the retail end," said Gowda.