The Union Budget 2026-27 has proposed the highest-ever annual budgetary support of ₹2,761.80 crore for the fisheries sector, underlining the government’s focus on strengthening coastal and inland fisheries, boosting exports and improving livelihoods of fishers and fish farmers. Of the total allocation, ₹2,530 crore has been earmarked for scheme-based interventions, with the Pradhan Mantri Matsya Sampada Yojana (PMMSY) continuing as the central pillar with an allocation of ₹2,500 crore for 2026–27.
Presenting the Budget in the Lok Sabha, Union Finance Minister Nirmala Sitharaman announced a major initiative for the integrated development of 500 reservoirs and Amrit Sarovars to strengthen the fisheries value chain in coastal areas. The initiative aims to improve market linkages by involving start-ups, women-led groups and Fish Farmer Producer Organisations (Fish FPOs), while reducing post-harvest losses and enhancing price realisation for fishers.
India has one of the world’s largest inland reservoir networks, covering about 31.5 lakh hectares, offering vast potential for inland fisheries. Under Mission Amrit Sarovar, the government has already developed 68,827 Amrit Sarovars, including 1,222 linked to fisheries, supporting fish farming and aquatic biodiversity. The new Budget proposal seeks to build on this foundation by integrating primary producers with processing, marketing and export value chains.
As part of the value chain strengthening measures, around 200 fisheries start-ups will be supported, with domain experts onboarded to drive innovation, technology adoption and enterprise development. In addition, 34 production and processing clusters identified by the Department of Fisheries are expected to directly benefit, promoting cluster-based growth and improving efficiency across the sector. These combined efforts are projected to benefit nearly 50 lakh people in coastal areas, including fishers, fish farmers and primary producers.
To create new export opportunities beyond territorial waters, the Budget proposes to make fish catch by Indian vessels in the Exclusive Economic Zone (EEZ) and on the high seas duty-free. The landing of such catch at foreign ports will be treated as exports, with safeguards to prevent misuse during transit or transshipment. The measure is expected to incentivise deep-sea fishing and enhance India’s presence in global seafood markets.
In another export-oriented reform, the Budget has raised the limit for duty-free import of specified inputs used in seafood processing for export from 1 per cent to 3 per cent. The move is aimed at reducing input costs for processing units, supporting compliance with stringent international quality and food safety standards, and improving the competitiveness of Indian seafood exports in key markets such as the European Union, Japan, the UK and South Korea.
India’s coastline of over 11,099 km and an Exclusive Economic Zone spanning nearly 24 lakh square kilometres provide livelihoods to more than 50 lakh members of the fishing community across 13 coastal States and Union Territories. To ensure sustainable exploitation of marine resources, the government has notified new rules and guidelines in 2025 for sustainable fishing in the EEZ and high seas by Indian-flagged vessels.
The fisheries sector, recognised as a sunrise sector, plays a critical role in India’s economy, supporting nearly three crore livelihoods. Since 2015, cumulative investments of over ₹39,000 crore have been made through major schemes such as PMMSY, PM-MKSSY, FIDF and the Blue Revolution. The sector has recorded an average annual growth rate of 7.87 per cent since 2014–15, the highest among agriculture and allied sectors.
Fish production has more than doubled over the past decade, rising from 95.79 lakh tonnes in 2013–14 to a record 197.75 lakh tonnes in 2024–25, driven largely by inland fisheries and aquaculture. Seafood exports have also doubled, reaching ₹62,408 crore in 2024–25, while shrimp production has nearly quadrupled, reflecting increased participation of entrepreneurs, youth and women in the sector.
The Ministry of Fisheries, Animal Husbandry & Dairying said the measures announced in Budget 2026-27 are expected to enhance global competitiveness of Indian seafood, promote value addition and diversification, generate employment and support the socio-economic development of coastal and inland communities, while ensuring sustainable and resilient growth of the fisheries sector.
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