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

India's seafood exports touched all-time high by volume in FY 2023-24, shipping 17,81,602 MT of seafood worth $7.38 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.


  • 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 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.


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