India’s fisheries sector has witnessed robust expansion over the past decade, with total fish production more than doubling from 95.79 lakh tonnes in 2013-14 to 197.75 lakh tonnes in 2024-25. This growth has positioned India as the second-largest fish producer globally, contributing nearly 8% to global output. The sector has also emerged as a key driver of inclusive economic development, generating around 74.66 lakh direct and indirect employment opportunities since 2014-15. With fisheries supporting the livelihoods of nearly 3 crore people, especially in coastal and rural regions, their role in strengthening food security and rural incomes has become increasingly significant. Additionally, the sector now accounts for about 7.43% of agricultural Gross Value Added (GVA), reflecting its rising structural importance within India’s economy.Parallel to production growth, India’s seafood exports have expanded significantly, reaching Rs. 62,408 crore (US$ 6.71 billion) in FY25, driven largely by strong demand for frozen shrimp in key markets such as the US and China. Policy support has been instrumental in this transformation, with the Union Budget 2026-27 allocating Rs. 2,761.80 crore (US$ 296.78 million) to the sector, including Rs. 2,530 crore (US$ 271.87 million) for targeted schemes. Flagship initiatives such as the Pradhan Mantri Matsya Sampada Yojana (PMMSY), along with fisheries-focused credit, insurance, and infrastructure development programmes, have enhanced productivity, formalisation, and value-chain efficiency. With sustained investments and a growing focus on modern aquaculture and exports, India’s fisheries sector is poised for continued expansion and global competitiveness.Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.https://www.ibef.org/news/india-s-annual-fish-production-doubles-over-10-years (ICE MUMBAI)

Fonte notizia: IBEF