New Delhi, India – February 23, 2025
The aquaculture sector in India has recently garnered significant government attention due to its potential to generate substantial employment opportunities and contribute to the country’s GDP. The Union Budget 2025 has allocated a record annual budgetary support of ₹2,703.67 crore for the fisheries sector, marking a 3.3% increase from the previous year’s allocation of ₹2,616.44 crore.
The Union Budget 2025-26 has emphasized the need for a sustainable framework to harness fisheries from exclusive economic zones (EEZ) and high seas, with a special focus on the Lakshadweep and Andaman & Nicobar Islands. This initiative is expected to drive growth in the marine sector by tapping into the untapped potential of marine fish resources in the Indian EEZ and high seas.
In her Budget speech, Finance Minister Nirmala Sitharaman highlighted that India ranks second globally in fish production and aquaculture, with seafood exports valued at ₹60,000 crore. This underscores the importance of increasing focus and effort on this high-potential sector.
A High-Potential Sector on the Rise
Aquaculture, which involves the farming of fish, shrimp, algae, and other aquatic species, has experienced remarkable growth in recent years. It has become one of India’s most dynamic and high-potential sectors, driven by rising global demand for seafood, technological advancements, and improved production methods. According to government data, India’s seafood export volume reached an unprecedented 17,81,602 tonnes in FY24, valued at ₹60,523.89 crore (approximately $7.38 billion). This surge in exports highlights the growing role of Indian aquaculture in the global seafood market and its increasing economic significance.
As per a Press Information Bureau (PIB) report, the fisheries and aquaculture sector contributes approximately 1% to India’s Gross Domestic Product (GDP) and over 5% to the agricultural GDP. India is the third-largest fish producer worldwide, accounting for around 8% of global fish production. This not only strengthens India’s position as a major player in the global seafood industry but also makes significant contributions to the national economy. The sector adds about 1.09% to the country’s Gross Value Added (GVA) and over 6.72% to agricultural GVA. With continued innovation and investment, aquaculture in India is poised to further enhance its contribution to economic growth, job creation, and food security, making it a critical component of the nation’s future growth strategy.
Enhancing the Impact of Aquaculture Development
While the Indian aquaculture sector is witnessing rapid growth and exports are reaching record highs, a significant portion of the industry still lacks proper structure, quality control, and efficient marketing practices. This hampers its profitability. The government has initiated several programs to formalize the sector, such as the Pradhan Mantri Matsya Sampada Yojana (PMMSY) and the Fisheries and Aquaculture Infrastructure Development Fund (FIDF). Formalizing the sector will lead to higher yields due to standardized farming practices and reduced wastage through optimized resource use.
This will also generate more employment as more workers enter the sector due to factors such as job stability, better wages, and social security. At the global level, Indian seafood products will have greater access to global markets, boosting foreign exchange earnings.
The development of India’s aquaculture sector holds immense potential to reshape the country’s economic landscape, propelling it towards greater dominance in the fisheries industry. While India has already secured its position as the second-largest aquaculture producer globally, its future growth lies in expanding its marine fisheries sector. Currently, the country’s reliance on inland resources is evident, with 131.13 lakh tonnes of the total 175.45 lakh tonnes of fish production in FY2022-23 coming from inland fisheries, and only 44.32 lakh tonnes from marine sources. This presents a clear opportunity to tap into the vast and largely untapped potential of the marine sector, which, with sustainable practices and enhanced infrastructure, can significantly boost production and exports.
India’s aquaculture sector is not only a cornerstone of employment—providing livelihoods to nearly 28 million people—but also holds the key to increasing the country’s foreign exchange earnings. By formalizing and expanding its reach in marine fisheries, India can achieve enhanced access to global markets, positioning itself as a dominant force in the international seafood trade. As the sector evolves, the combination of government focus on sustainable harnessing of fisheries from EEZ and high seas, growing production, improved quality control, and international market access will solidify India’s role as a leader in global aquaculture, creating a ripple effect of economic growth and job creation for years to come.