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:
- Tuna: The Indian Ocean Tuna Commission (IOTC) estimates a maximum sustainable yield (MSY) for yellowfin tuna at 3.44 lakh tons, with recommended exploitation not exceeding 3 lakh tons for sustainability (DEEP SEA FISHING – MPEDA). At an average export price of $2,263 per ton in July 2023 (Frozen Yellowfin Tuna Price in India – 2023 – Charts and Tables – IndexBox), this could contribute approximately US$679 million annually, a significant portion of the needed increase.
- Deep-Sea Shrimps: Species like Metapenaeopsis andamanensis and Aristeus alcocki are noted for their potential, with existing fisheries like the Kerala deep-sea shrimp trawl fishery exporting to markets like the US and EU (Kerala India Deep-sea Shrimp Project | Marine Stewardship Council). However, specific production figures are limited, with research indicating 156 distinct deep-sea shrimp species but lacking quantified potential (Deep-water marine shrimps from the Indian coast: A review | Indian Journal of Geo-Marine Sciences (IJMS)).
- Myctophids (Lantern Fish): These are among the world’s most abundant deep-sea fish, with global biomass estimates suggesting significant potential. In India, the EEZ offers possibilities for utilizing an additional 2 million tons of resources from deep sea, including myctophids, though exact figures for commercial exploitation are not detailed (India: Budget 2025-26: Govt boosts fisheries sector with focus on Islands – ICSF).
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:
- Vessel Support: Plans include providing advanced vessels capable of extended voyages, equipped with modern technology like GPS, fish finders, and communication devices (DEEP SEA FISHING – MPEDA). Historical plans, such as providing 1,000 deep-sea vessels in 2017 at a cost of Rs 1 crore each, indicate a scale of investment (Fishermen may get deep sea vessels to go to exclusive economic zone). Recent efforts include financial assistance of up to 60% for converting boats, with low- or no-interest loans under programs like Pradhan Mantri Matsya Sampada Yojana (PMMSY) (India sets USD 1.6 billion target for value-added seafood production by 2030 | SeafoodSource).
- Digital Platform: The National Fisheries Digital Platform (NFDP), launched in 2024, aims to streamline operations, with over 60,000 fishermen from Madhya Pradesh registered, enhancing coordination and export efficiency (India exploring deep-sea fishing to enhance sea-food exports to ₹1 lakh crore – CNBC TV18).
- Policy Framework: The draft national fisheries policy empowers coastal states to grant marine fishing licenses for the EEZ, encouraging small-scale fishers and fisher groups to undertake resource-specific deep-sea fishing (DEEP SEA FISHING – MPEDA).
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$679 million |
| NFDP Launch Year | 2024 |
| MP Registered Fishermen | Over 60,000 on NFDP |
| Deep-Sea Shrimp Fisheries | Existing, mainly for export to US and EU |
| Myctophid Potential | Part of 2 million tons possible from EEZ |
This detailed analysis incorporates all relevant information from the provided link and additional context to ensure a thorough understanding of India’s deep-sea fishing strategy.
Key Citations
- India exploring deep-sea fishing to enhance sea-food exports to ₹1 lakh crore – CNBC TV18
- India’s seafood exports increased by over 30% in last four years, stand at Rs. 61,043.68 crore (US$ 7.37 billion) in 2023-24 | IBEF
- DEEP SEA FISHING – MPEDA
- Frozen Yellowfin Tuna Price in India – 2023 – Charts and Tables – IndexBox
- Deep-water marine shrimps from the Indian coast: A review | Indian Journal of Geo-Marine Sciences (IJMS)
- Kerala India Deep-sea Shrimp Project | Marine Stewardship Council
- India: Budget 2025-26: Govt boosts fisheries sector with focus on Islands – ICSF
- Fishermen may get deep sea vessels to go to exclusive economic zone
- India sets USD 1.6 billion target for value-added seafood production by 2030 | SeafoodSource
- Fishermen cite problems with vessels handed over as part of State govt.’s deep-sea fishing project – The Hindu
- Indian Deep Sea Fisheries – Its Prospects, Issues and Challenges – MedCrave online
- Warming seas push India’s fishers into distant, and more dangerous, waters – Mongabay
- ‘Deep sea fishing in India is already a flop’