Indian Economy News

India’s Seafood Exports: From Growth to Global Competitiveness

India’s fisheries sector has emerged as a key driver of food security, employment, and export growth, supported by sustained government initiatives and investments worth Rs. 39,272 crore (US$ 4.23 billion) since 2015. The sector provides livelihoods to nearly 30 million fishers and fish farmers, with a much larger workforce across the value chain. India is now the world’s second-largest aquaculture producer, contributing about 8% to global fish production. Fish production has witnessed steady expansion, increasing from 141.64 lakh tonnes in 2019-20 to 197.75 lakh tonnes in 2024-25, reflecting an average annual growth of around 7%. Pradhan Mantri Matsya Sampada Yojana has played a crucial role in strengthening infrastructure, improving fish seed quality, promoting technology adoption, and enhancing capacity building across the sector.

India’s seafood exports have also recorded strong growth, doubling from Rs. 30,213 crore (US$ 4.95 billion) in 2013-14 to Rs. 62,408 crore (US$ 7.16 billion) in 2024-25, driven largely by shrimp exports valued at Rs. 43,334 crore (US$ 4.67 billion). Exports now span over 350 product varieties across nearly 130 global markets, with the United States accounting for 36.42% of total export value, followed by China, the EU, Japan, and the Middle East. The government is focusing on diversification into high-value species, strengthening cold-chain infrastructure, and improving traceability and certification systems to meet global standards. Reforms such as the digitisation of the Sanitary Import Permit system, reducing approval time from 30 days to 72 hours, have improved ease of doing business. Going forward, India aims to expand value-added exports, enhance market access, and position itself as a reliable and premium global seafood exporter.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.