ENTREPRENEURIAL PROSPECTS IN AQUACULTURE: A DRIVER OF RURAL BLUE ECONOMIC DEVELOPMENT

ABSTRACTRural aquaculture has emerged as a vital driver of the blue economy, offering significantlivelihood opportunities and contributing to sustainable rural development. This studyinvestigates the entrepreneurial prospects in rural aquaculture by identifying the key driversthat enhance growth and sustainability and examining the major challenges faced byaquaculture enterprises. Primary data were collected from 170 respondents, including ruralaquaculture entrepreneursand officials from the Office of the Commissioner of Fisheries inVijayawada, Andhra Pradesh. Discriminant Analysis was employed to determine the mostinfluential factors driving enterprise success, while Exploratory Factor Analysis identifiedunderlying operational and systemic challenges constraining performance. The findingsreveal that supportive government policies, capacity-building initiatives, technicalknowledge, market demand, and cooperative participation are critical enablers of growth.Conversely, challenges such as financial constraints, poor technical skills, environmentalissues, regulatory complexities, high input costs, and inadequate infrastructure significantlyimpede enterprise development. The results provide valuable insights for policymakers,practitioners, and stakeholders aiming to promote resilient and inclusive rural blue economicdevelopment.