Last updated: Jun, 2021
Aquaculture is one of the fastest-growing sectors in the world. India, with its vast coastal area, offers immense opportunities for fisheries in both marine and inland waters. The country has the second-largest share in the global aquaculture market , mainly due to its 2.36 million hectares of ponds and tanks, a coastline of 7,500 kms and brackish water area of 1.1 million, which offers a ground for fish farming. In India, the fisheries sector is a means of livelihood for ~28 million people in the country.
The Food and Agriculture Organisation (FAO) 2020 report revealed that Asia has the largest share in the global fish production at 89%, since the last 20 years. In 2018, the global capture fish production reached the highest-ever level and recorded 96.4 million tonnes; this was driven by marine capture and inland fishing. The top seven key producers were China, Indonesia, Peru, India, Russia, the US and Vietnam, accounting for ~50% of the total global capture production.
India accounts for 7.58% of the global production. Fish production in the country reached an all-time high of 14.16 million metric tonnes between 2019 and 2020. The fisheries sector contributes 1.24% to the gross value added (GVA) and 7.28% to the agricultural GVA.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.