Assessing Economic Efficiency in Precision Farming: Tools and Techniques

Fisheries sector is an integral part of the Indian economy. Over the years, the sector has emerged and plays a strategic role in food security; international trade and employment generation. The sector constitutes about 6.3 percent of the global fish production and contributes to 1.1percent of the GDP and 5.15percent of the agricultural GDP. The total fish production of 10.07 million metric tonnes presently has nearly 65percent contribution from the inland sector and rest by the marine sector. The marine fisheries sector is a labourintensive sector, with multiple craft and gear combinations, each of these combinations provides employment ranging from two to three people per craft to thirty people per craft. Over the years the scale of production increase and the sector faces emerging biological, economic and social challenges that may influence the ability to maintain ethically sound, productive and environmentally friendly production of fish. It is therefore important that the industry aspires to monitor and control the effects of these challenges to avoid also upscaling potential problems when upscaling production