Lakshadweep Development Corporation is an omnibus Corporation for Lakshadweep established as a fully owned Government Company registered under the Companies Act, 1956 on 22.12.1987. The Corporation has focused on developing value added products from fish and coconut resources abundantly available in the islands.

The main objectives of establishing Lakshadweep Development Corporation Ltd. (LDCL) as enshrined in the memorandum of association is as follows;

Survey, prospect and catch, develop, manufacture, conserve, culture, and artificially breed, preserve, process, and convert deal in wholesale and/or retail; and buy, sell, market, import and export all varieties of fish, shellfish, squids, cattle fish, octopus, marine products like oysters, pearls and sea-weed, and corals and jelly fish which are available from the sea and other waters.

Procure market, sell, process, preserve, develop, deal in import and export of agriculture produce, undertake civil supplies operations, industrial raw materials and finished industrial products.

To carry on the business of operation of ships both passenger and cargo and also acquire ships for operation and act as agents for operating and maintenance of both passenger and cargo vessel of Lakshadweep Administration and other Government and Private bodies.