India’s deep-sea fishing initiative has the potential to help achieve the ambitious target of ₹1 lakh crore in seafood exports by 2030, but it’s not guaranteed. Currently, seafood exports stand at ₹60,523 crore, and reaching ₹1 lakh crore means increasing by about ₹39,477 crore over five years. This is a big jump, and deep-sea fishing could play a key role by tapping into untapped fish populations in the Exclusive Economic Zone (EEZ), up to 200 nautical miles offshore. The government is pushing for advanced vessels and digital tools like the National Fisheries Digital Platform (NFDP) to support this, focusing on high-value species like tuna, which could add significant value—research suggests up to 3 lakh tons of yellowfin tuna, worth around US$679 million. That’s a big boost, but it’s not the whole story. Other species like deep-sea shrimps and myctophids also have potential, though exact figures are harder to pin down. However, there’s a catch—past deep-sea fishing efforts in India have struggled, with issues like overfishing and unsuitable vessels. An unexpected detail is that some fishermen have reported technical problems with the new boats, which could slow progress. Plus, sustainability is crucial; we can’t risk harming marine ecosystems while chasing exports. It seems likely that with the right support and sustainable practices, this initiative could drive growth, but it’ll need careful management to succeed by 2030. Survey Note: Detailed Analysis of India’s Deep-Sea Fishing Initiative for Enhanced Seafood Exports India’s exploration of deep-sea fishing as a strategy to boost seafood exports to ₹1 lakh crore by 2030 represents a significant policy shift, aiming to elevate the country’s position in the global market. This initiative, recently highlighted by Union Minister of State for Fisheries George Kurian, involves leveraging advanced technology and engaging local fishing communities, but it also faces potential challenges that could influence its outcomes. Below, we delve into the details, including current statistics, government plans, and broader implications, to provide a comprehensive overview. Current Export Figures and Target As of February 2025, India’s annual seafood exports for the fiscal year 2023-24 stood at ₹60,523 crore, approximately US$7.38 billion, based on an exchange rate of around 86.84 INR per USD (India’s seafood exports increased by over 30% in last four years, stand at Rs. 61,043.68 crore (US$ 7.37 billion) in 2023-24 | IBEF). The target of ₹1 lakh crore translates to about US$11.5 billion, requiring an increase of roughly US$4.12 billion over the next five years to 2030. This ambitious goal necessitates a compound annual growth rate (CAGR) of approximately 9% in value, considering the current base and timeline. Deep-Sea Fishing Potential and Species Deep-sea fishing in India refers to fishing within the EEZ, extending 200 nautical miles offshore, targeting resources beyond the traditional coastal waters. The initiative focuses on high-value species with untapped potential: The total potential from deep-sea fishing could thus be substantial, potentially contributing over US$1 billion annually if fully realized, though this is speculative given the lack of comprehensive data on shrimps and myctophids. Government Plans and Initiatives The government is actively supporting the transition from near-shore to deep-sea fishing through several measures: Challenges and Historical Context Despite the potential, deep-sea fishing in India has a history of mixed outcomes. Past initiatives, such as those in the 1990s, faced significant backlash due to overfishing and impacts on traditional fishermen, leading to policy revisions (‘Deep sea fishing in India is already a flop’). Recent reports highlight operational challenges, with fishermen citing technical issues with provided vessels, many lying idle due to unsuitability for Kerala’s coast (Fishermen cite problems with vessels handed over as part of State govt.’s deep-sea fishing project – The Hindu). Sustainability is another concern, with research indicating overfishing pressures in near-shore waters and the need for careful management to prevent ecological damage (Indian Deep Sea Fisheries – Its Prospects, Issues and Challenges – MedCrave online). Warming seas and declining coastal stocks are pushing fishers into deeper waters, adding complexity (Warming seas push India’s fishers into distant, and more dangerous, waters – Mongabay). Market Demand and Competition India’s key export markets include the USA, China, and the EU, with frozen shrimp and fish being major items (India’s seafood exports reach record high in FY 2023-24). The global demand for high-value species like tuna is rising, offering opportunities, but competition from countries like Thailand and Vietnam remains stiff. Value addition and adherence to international standards will be crucial for capturing premium markets. Progress and Implementation As of February 2025, the initiative is in progress, with events like the February 20, 2025, gathering in Indore highlighting community engagement and NFDP registration (India exploring deep-sea fishing to enhance sea-food exports to ₹1 lakh crore – CNBC TV18). However, the scale of vessel deployment and actual production increases from deep-sea fishing remain unclear, with historical data suggesting slow implementation rates. Conclusion and Future Outlook India’s ambition to reach ₹1 lakh crore in seafood exports through deep-sea fishing is a strategic step towards economic growth and global market presence. By integrating advanced technology, digital platforms, and community engagement, the government aims to achieve this target while fostering sustainability. However, the success of this plan will depend on addressing challenges such as overfishing, ensuring ecological balance, and maintaining the livelihoods of small-scale fishermen. As of February 25, 2025, this initiative represents a promising yet complex endeavor, with significant implications for India’s fishing industry and marine environment. Table: Key Statistics and Initiatives Category Details Current Seafood Exports ₹60,523 crore (US$7.38 billion) annually Target Seafood Exports ₹1 lakh crore (US$11.5 billion) by 2030 Vessel Range 200 nautical miles offshore Tuna Potential Up to 3 lakh tons, valued at US$679 million NFDP Launch Year 2024 MP Registered Fishermen Over 60,000 on NFDP Deep-Sea Shrimp Fisheries Existing, mainly for export to US and EU Myctophid Potential Part of 2 million tons possible from EEZ This detailed analysis incorporates all relevant information from the provided link and additional context to ensure a thorough understanding of India’s deep-sea fishing strategy. Key Citations