LAUSR

Abstract Freshwater aquaculture is one of the fastest-growing sectors in India and has the potential for large scale employment. However, this sector is dominated by small and marginal fish farmers adopting traditional technologies resulting in low productivity and nominal impact on their livelihood. The success of fish farming as a business depends mostly on its scientific culture practice and efficient farming strategy, which will assist not only in individual socio-economic development but also the economic growth of the country as a whole. Through a case-based research method an economic analysis has been made on species diversification strategy of fish farming. It is found that, by adopting an effective and most economical diversification strategy consisting of the culture of Gudusia chapra along with Carps in small-scale composite culture ponds will resulted in more than 100% return on investment. Therefore, the outcome of this research has propounded for a novel farming practice of small indigenous high valued species having negligible investment will enhance the income of fish farmers.