India has established itself as the second-largest fish-producing country in the world, accounting for about 8 percent of the world’s production. According to a government report, India exported 17,81,602 MT of seafood worth Rs 60,523.89 crore during the financial year 2023-24.
The Marine Products Export Development Authority (MPEDA) indicated a phenomenal growth in export value, rising from Rs 609.95 crore during 2003-04. The fisheries and aquaculture industry has undergone record transformations during the last twenty years, further cementing India’s market position in the international seafood markets.
Historic Budget Allocation for Fisheries in 2025-26
Union Budget 2025-26 has given historic annual budget support of Rs 2,703.67 crore to the fisheries sector. Ministry of Fisheries, Animal Husbandry, and Dairying has described this investment as an example of India’s interest in aquaculture development and seafood export. Growth in Fish Production
The production of fish in India has increased leaps and bounds with the years. The overall production of fish in 2023-24 was at 184.02 lakh tonnes, registering a sharp increase from 95.79 lakh tonnes in 2013-14 and 63.99 lakh tonnes in 2003-04. The rise of 88.23 lakh tonnes between 2014-24 was higher than the rise of 31.80 lakh tonnes between 2004-14.
The growth in aquaculture and inland fish production is especially significant, increasing by 77.71 lakh tonnes during 2014-24, compared to 26.78 lakh tonnes during the last 10 years. Marine fish production increased two-fold to 10.52 lakh tonnes from 5.02 lakh tonnes during the same period.
Key Initiatives Driving Growth:
Blue Revolution plan, initiated in 2015-16 with a focus outlay of Rs 3,000 crore, was instrumental in building the production and productivity of the fisheries. It aimed to leverage the inland and marine fisheries to achieve higher economic sustainability.
Grabbing the necessity of more reforms, in 2020 the government launched the Pradhan Mantri Matsya Sampada Yojana (PMMSY) to promote the fisheries sector further. The scheme is grounded on an outlay of Rs 20,050 crore for five years (2020-21 to 2024-25) with the aim to plug value chain loopholes while also ensuring fishers and aquaculture farmers’ socio-economic well-being.
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