In the Union Budget, tabled today in the Lok Sabha for the year 2026-2027, proposed the highest ever total annual budgetary support of ₹2,761.80 crore for the fisheries sector. Out of the total allocation, ₹2,530 crore has been earmarked for scheme-based interventions, ensuring direct support to fishers and fish farmers. Pradhan Mantri Matsya Sampada Yojana (PMMSY) continues to be the central pillar of fisheries development, with an allocation of ₹2,500 crore in 2026–27.

Union Finance Minister Smt. Nirmala Sitharaman in her budget speech, announced that initiatives will be undertaken for the integrated development of 500 reservoirs and Amrit Sarovars to strengthen the fisheries value chain in coastal areas and enable market linkages involving startups and women-led groups together with Fish Farmer Producer Organizations (Fish FPOs).

India possesses one of the world’s largest networks of inland reservoirs, spanning about 31.5 lakh hectares offering significant potential for inland fisheries development. To address water conservation and livelihood challenges, the Government of India under Mission Amrit Sarovar has resulted in the development of 68,827 Amrit Sarovars, including 1,222 Sarovars linked to fisheries, supporting fish farming and aquatic biodiversity.

The strengthening of the fisheries value chain in coastal areas is a significant intervention, as it seeks to integrate primary producers with processing, marketing and export value chains, reduce post-harvest losses, improve price realisation for fishers, and strengthen last-mile market access. As part of this initiative, around 200 start-ups in the fisheries sector will be supported, with domain expertise being onboarded to drive innovation, technology adoption and enterprise development. Further, 34 production and processing clusters designated by the Department will directly benefit, enabling cluster-based growth and improved efficiency across the fisheries value chain.

The Department of Fisheries is already promoting cooperatives, Fish Farmer Producer Organisations and start-ups under the ongoing PMMSY and PMMKSSY schemes. These combined efforts are expected to benefit nearly 50 lakh individuals in coastal areas, including fishers, fish farmers and primary producers who are integral to both the seafood export and domestic fisheries value chains.

In Addition, To create new export opportunities beyond territorial waters for fishers, budget 2026-27 proposed that fish catch by any Indian vessel in the EEZ or in the high seas will be made free of duty; the landing of such fish at foreign ports will be treated as export of goods, and safeguards will be put in place to prevent misuse during fish catch transit or transshipment.

India, with a coastline stretching over 11,099 km and an Exclusive Economic Zone (EEZ) covering approximately 24 lakh square kilometres, provides livelihood support to more than 50 lakh members of the fishing community across 13 maritime States and Union Territories. Marine fisheries play a significant role in the country’s blue economy through seafood exports and by providing essential nutritional support to millions of people. To address this gap and sustainably harness these untapped resources, the Government of India has notified the Rules for Sustainable Harnessing of Fisheries in the Exclusive Economic Zone (EEZ) and the Guidelines for Sustainable Harnessing of Fisheries in the High Seas by Indian-Flagged Fishing Vessels, 2025.

To support export-oriented growth, Budget 2026 introduces measures aimed at improving the competitiveness of seafood processing. The limit for duty-free import of specified inputs used for processing seafood products for export has been enhanced from the existing 1 per cent to 3 per cent. This measure is expected to reduce input costs for processing units, support compliance with stringent international quality and food safety standards and enhance the overall efficiency and competitiveness of India’s seafood exports.

The measure is expected to enable exporters to access high-quality inputs required to meet stringent buyer specifications in key markets such as the European Union, South Korea, UK, Japan etc. thereby strengthening the global competitiveness of India’s value-added seafood exports.

Collectively, these measures are expected to enhance the global competitiveness of Indian seafood, promote value addition and product diversification, increase foreign exchange earnings, generate employment, and support the socio-economic development of coastal and inland communities, while ensuring sustainable and resilient growth of the fisheries sector.

Background

The fisheries sector plays a significant role in India’s economy, supporting nearly three crore livelihoods, particularly among marginalised and coastal communities. Recognised as a Sunrise Sector, fisheries has recorded sustained growth in recent years through focused policy interventions aimed at enhancing production, exports, infrastructure development and technology adoption.

In view of the sector’s growing importance, the Government of India created a dedicated Ministry of Fisheries, Animal Husbandry and Dairying in June 2019. Since 2015, the Government has substantially increased investments in the sector, with cumulative outlays of ₹39,272 crore through major schemes and programmes, including the Blue Revolution Scheme, Fisheries and Aquaculture Infrastructure Development Fund (FIDF), Pradhan Mantri Matsya Sampada Yojana (PMMSY), Pradhan Mantri Matsya Samridhi Sah Yojana (PM-MKSSY) and Kisan Credit Card (KCC). These interventions aim to create employment and livelihood opportunities for 74.66 lakh fishers and fish farmers.

The fisheries sector has recorded an average annual growth rate of 7.87% since 2014–15, the highest among agriculture and allied sectors. Its contribution to the economy has also increased significantly, with Gross Value Added (GVA) rising from ₹98,190 crore in FY 2013–14 to ₹3.41 lakh crore in FY 2023–24, highlighting the sector’s growing role in economic growth, employment generation and food and nutritional security.

Over the last decade, India’s fisheries production has witnessed remarkable growth. Annual fish production increased by more than 106%, from 95.79 lakh tonnes in FY 2013–14 to a record 197.75 lakh tonnes in FY 2024–25. Inland fisheries and aquaculture have emerged as key growth drivers, registering a growth of 147%, from 61.36 lakh tonnes to 151.60 lakh tonnes during the same period.

India’s seafood exports have doubled, rising from ₹30,213 crore in FY 2013–14 to ₹62,408 crore in FY 2024–25, reinforcing the country’s position as a leading global seafood exporter. Coastal aquaculture, particularly shrimp farming, has shown strong expansion, with shrimp production increasing by 296%, from 3.22 lakh tonnes to approximately 12.76 lakh tonnes over the last decade, reflecting increased participation of entrepreneurs, youth and women in the sector.

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JP. 

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