The Ministry of Fisheries, Animal Husbandry and Dairying of India highlighted that the Indian fisheries sector has undergone significant expansion and transformation over the past two decades.

India is currently the second largest fish producing country, contributing about 8% to global fish production. The period from 2004 to 2024 has been characterized by significant technological advancements and strategic policy reforms, consolidating India’s position in the global fisheries and aquaculture industry.

The Union Budget 2025-26 proposes an unprecedented total annual budget allocation of about US$ 324 million. This allocation underscores India’s growing prominence as a leading exporter of seafood.

The Budget 2025-26 places strategic priority on enhancing financial inclusion, reducing the financial burden on fishermen by reducing customs duties and promoting marine fisheries development. Further, the budget emphasizes on establishing a framework for sustainable use of fishery resources in the Exclusive Economic Zone (EEZ) and High Seas, with a specific focus on Lakshadweep and the Andaman & Nicobar Islands. The initiative aims to unlock the untapped potential of marine fish resources in India’s Exclusive Economic Zone and the adjacent High Seas, boosting growth in the maritime sector.

The Government of India has also increased the Kisan Credit Card (KCC) loan limit from approximately US$ 36,000 to US$ 60,000 to improve access to credit for fishermen, farmers, processors and other stakeholders in the fisheries sector. The measure is aimed at streamlining the flow of financial resources, ensuring that the necessary funds are readily available to meet the working capital requirements of the sector.

Production of aquaculture and inland fish increased significantly by 7,771 tonnes during 2014-24, compared to 2,678 tonnes during 2004-14. Production of marine fish increased by 5,500 tonnes during 2014-24, compared to 1,052 tonnes during 2004-14.

According to a report by the Marine Products Export Development Authority (MPEDA), India exported 1,781,602 tonnes of seafood worth about $725 million. This is a significant increase from about $73 million in 2003-04.

Andhra Pradesh targets aquaculture expansion

The Chief Minister of India’s Andhra Pradesh, the country’s largest shrimp-producing state, has urged the expansion of aquaculture in the state to 1 million acres (404,685 hectares) by 2030.

The state aims to increase its annual aquaculture production by 30% through technology and innovation. Currently, aquaculture covers 400,000 acres in the state.

Adopting sustainable and natural farming methods will boost global market demand for Andhra Pradesh’s seafood products.

Source: VASEP