Indian Economy News

Union Minister of Commerce and Industry Mr. Piyush Goyal and Union Minister of Fisheries Mr. Rajiv Ranjan Singh Hold High-Level Meeting to Accelerate Seafood Sector Growth

India is strengthening its position in the global seafood market through a coordinated strategy focused on exports, value addition and sustainable fisheries development. A high-level meeting between Union Minister of Commerce & Industry Mr. Piyush Goyal and Union Minister of Fisheries Mr. Rajiv Ranjan Singh outlined a roadmap to accelerate the growth of the seafood sector and improve India’s export competitiveness. The government announced that a two-day “Chintan Shivir” will be organised in Visakhapatnam on June 5-6, 2026, bringing together ministries, export bodies, startups, seafood exporters, fishers and state fisheries departments to strengthen the seafood export ecosystem. The discussions highlighted the need to align export promotion initiatives with PMMSY and related schemes while focusing on infrastructure development, quality assurance, market diversification and greater stakeholder participation.

The government is also exploring a dedicated Production Linked Incentive (PLI) framework for seafood MSMEs to encourage technology adoption, research, export-oriented infrastructure and value-added seafood production. The initiative aims to increase the number of seafood exporters from around 1,200 to nearly 5,000 in the coming years, thereby strengthening India’s role in global seafood value chains. Special emphasis will be placed on developing the tuna sector in the Andaman & Nicobar Islands and Lakshadweep through sustainable harvesting, processing and branding initiatives. Authorities will additionally focus on Sanitary and Phytosanitary (SPS) compliance, laboratory upgrades, traceability systems, GI tagging opportunities and marine plastic waste recycling programmes to support sustainable fisheries and strengthen India’s blue economy.

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