Fisheries & Aquaculture

Snapshot

Fisheries & Aquaculture

Fueling the Future of Global Protein Demand

India recorded the highest-ever export of 1.73 MMT worth $8.09 Bn in FY 2022-23 of fisheries and fisheries products. The fisheries and aquaculture sector shall play a vital role in addressing the rising global demand for an affordable quality source of protein.

India is the third largest fish-producing country in the world accounting for 8% of global production and contributing about 1.09% and over 6.72% to the country’s GVA and agricultural GVA respectively. India is the 4th largest exporter of fish and fisheries products with a growth in exports of 26.73% in terms of quantity between FY 2021-22 and FY 2022-23. In terms of employment, the sunrise sector supports the livelihood of over 30 Mn people in India.

The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying has implemented a flagship scheme “Pradhan Mantri Matsya Sampada Yojana (PMMSY)- to bring about Blue Revolution through sustainable and responsible development of the fisheries sector in India” with the highest ever investment of INR 20,050 Cr for a period of five years effective from FY 2020-21 till FY 2024-25 in all States/Union Territories (UTs).

India’s top 5 export destinations for fish and fish products are USA, China, European Union, Southeast Asia, Japan and the Middle East.

The fisheries sector in India has shown a sustained annual average growth rate of 7.98% for the 8-year period from 2014-15 to 2022-23 (at constant prices).
74.7% of fish production was contributed by inland fisheries and the rest 24.3% was contributed by marine fisheries in FY 2022-2023.
India has seen more than 22X increase in fish production from 0.75 MMT in 1950-51 to 17.54 MMT in FY 2022-23.
Per capita consumption of fish is 6.31 kg per capita.

100% FDI is allowed under the automatic route in pisciculture and aquaculture sector in India.

For further details, please refer FDI Policy

%
Increase (value terms) in marine product exports from 2013-14 to 2021-22
%
Annual growth rate of fish production from 2020-21 to 2021-22
%
Average annual growth rate of the fisheries sector in last 8 years

1st in inland capture fish production

2nd in aquaculture fish production

3rd in overall Fish production

Industry Scenario

FOREIGN INVESTMENT

INDUSTRY TRENDS

POLICIES & SCHEMES

Industry Scenario

India's seafood exports touched all-time high by volume in FY 2023-24, shipping 18.27 MT of seafood worth $7.86 Bn.

With the rising population, stress on existing resources is increasing tremendously to meet the growing demand for nutritional diet. Fisheries and Aquaculture sector plays a vital role in meeting this growing demand for protein.

India Specific Key Facts:

13.13 MMT Inland Fisheries production during FY 2022-23.
4.13 MMT Marine Fisheries production in FY 2021-22.
$4.54 Mn export of ornamental fisheries in FY 2021-2022.
Top exporting destination for Ornamental Fisheries: Thailand; UAE; Singapore; Hong Kong; China; Jordan; Taiwan.
The potential states identified for the development of Ornamental Fisheries are West Bengal, Tamil Nadu, Maharashtra, Kerala, Odisha, Gujarat, Karnataka, Assam and Manipur.
1,547 notified landing centers and 193 fish landing centres have been commissioned.
682 cold storages with 466,973.27 MT of capacity.
44 Chilled Storages with 23,654.80 MT of capacity.
88 Dry Fish Storages with 38,895.92 MT of capacity.
622 processing plants with 35,830.63 MT of capacity.
67 minor fishing harbours, 7 major fishing harbours have been commissioned.

Union Budget 2023 Highlights

A new sub-scheme of Pradhan Mantri Matsya Sampada Yojna(PMMSY) named Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) to be launched
Target investment of INR 6000 Cr to enhance the earnings and incomes of fishermen, fish vendors, and micro & small enterprises engaged in the fisheries sector.

GROWTH DRIVERS

Demand-side drivers
Fish is an affordable and rich source of protein, minerals and vitamins Changing lifestyle and food habits towards animal-based diet. Increasing demand for protein due to rising population.
Supply-side drivers
Rich and diverse set of water resources implying diverse fisheries resources. 10 % of the global biodiversity in terms of fish and shellfish species found in India. 2.02 Mn sq.km EEZ & underutilized inland waters offer a huge potential.
Policy support
Fisheries and Aquaculture Infrastructure Development Fund (FIDF)- INR 7522.48 Cr. Pradhan Mantri Matsya Sampada Yojana (PMMSY)- INR 20,050 Cr. Production Linked Incentive Scheme for Food Processing Industry- INR 10,900 Cr. FDI Policy- 100% FDI allowed through automatic route in Pisciculture and Aquaculture Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) a new sub-scheme under PMMSY, announced with targeted investment of INR 6,000 crore to further enhance the livelihood of the stakeholders engaged in the fisheries sector.