India Emerges as the 2nd Largest Fish Producer with 8% Global Share
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Synopsis
India ranks as the second largest fish producer globally, accounting for 8% of fish production. In FY 2023-24, seafood exports reached 1,781,602 MT worth Rs 60,523.89 crore. The Union Budget 2025-26 supports the fisheries sector with Rs 2,703.67 crore, highlighting India's commitment to aquaculture and seafood export growth.
Key Takeaways
- India is the second largest fish producer.
- Holds 8 percent of global fish production.
- Exported 1,781,602 MT of seafood in FY 2023-24.
- Union Budget allocates Rs 2,703.67 crore for fisheries.
- Focus on inland fisheries and aquaculture.
New Delhi, Feb 15 (NationPress) India stands as the second largest fish producing nation, holding approximately 8 percent of the global fish production market share. In the financial year 2023-24, the country successfully exported 1,781,602 metric tonnes (MT) of seafood, valued at Rs 60,523.89 crore, as reported by the government on Saturday.
The export value has seen an impressive rise from Rs 609.95 crore in 2003-04, according to the Marine Products Export Development Authority (MPEDA).
The decade spanning from 2004 to 2024 has been significant, marking numerous milestones that have strengthened India's standing in global fisheries and aquaculture.
The Union Budget for 2025-26 has proposed an all-time high annual budgetary support of Rs 2,703.67 crore for the fisheries sector, underscoring India’s role as a leader in aquaculture and seafood exports, as stated by the Ministry of Fisheries, Animal Husbandry and Dairying.
Fish production surged to 1,840,200 tonnes in 2023-24 from 957,900 tonnes in 2013-14 and 639,900 tonnes in 2003-04, marking an increase of 882,300 tonnes over the past decade (2014-24), compared to 318,000 tonnes from 2004-14.
Inland and aquaculture fish production saw a remarkable rise of 777,100 tonnes from 2014-24, in contrast to 267,800 tonnes achieved from 2004-14.
Marine fish production also doubled, increasing from 502,000 tonnes (2004-14) to 1,052,000 tonnes (2014-24).
The Blue Revolution scheme was initiated as a foundational step towards enhancing the economic viability and strength of the fisheries sector.
“With its diverse initiatives, the Blue Revolution primarily aims to boost fisheries production and productivity from both inland and marine aquaculture resources. Launched in FY2015-16, it had a central outlay of Rs 3,000 crore for a five-year period,” according to the Ministry.
Recognizing the need for reforms to tackle significant gaps across the value chain, the Pradhan Mantri Matsya Sampada Yojana (PMMSY) was established in 2020 to elevate the fisheries sector while ensuring the socio-economic welfare of fishers, fish farmers, and other stakeholders.
The PMMSY is set to run for five years (2020-21 to 2024-25) with an investment of Rs 20,050 crore.
This initiative focuses on inland fisheries and aquaculture, acknowledging their crucial role in enhancing production and ensuring food security.
