NEW DELHI: According to data from the Commerce and Industry Ministry, India’s seafood exports reached $0.58 billion in April this year, marking a strong growth of 17.81%. This reflects the country’s ongoing significant role as the fourth largest producer of marine products in the global market.
In the financial year that concluded on March 31, 2025, the country exported marine products amounting to 16.85 lakh metric tonnes, reflecting an increase of more than 60 percent. In terms of value, exports increased from $5.4 billion to $7.2 billion in FY15.
Despite concerns regarding tariff increases declared by the US—India’s largest export market—the momentum is carrying on into 2025-26. At the same time, India and the US are on the verge of finalizing a bilateral trade agreement designed to enhance the flow of exports and imports between them.
India’s seafood exports have grown to 130 countries from 105 in 2014-15, demonstrating the expanding reach of the country’s marine products. The largest exported marine product is frozen shrimp, which accounts for over 40% of the total quantity and 66.12% of the total export value, with the US and China being the main markets.
The Centre’s Pradhan Mantri Matsya Sampada Yojana (PMMSY) scheme, which supports various initiatives along the fisheries value chain, including quality fish production, expansion and diversification of brackish water aquaculture, and promotion of export-oriented species, is driving India’s export competitiveness and higher price realization.
A senior official stated that the scheme, which has significantly enhanced the country’s seafood production and exports, includes the infusion of technology, effective disease management and traceability, training and capacity development, establishment of modern post-harvest infrastructure with an uninterrupted cold chain, and development of modern fishing harbours and fish landing centres.
By 2030, the Centre aims to reach an export turnover of $18 billion (equivalent to Rs 1.57 lakh crore). The Marine Products Export Development Authority (MPEDA), which operates under the Ministry of Commerce and Industry, has formulated India’s Vision Document -2030, setting a target for seafood exports, the statement said.MPEDA is instrumental in supervising the country’s seafood exports. The Department of Fisheries is executing the flagship PMMSY scheme with a five-year investment of Rs 20,050 crore in the fisheries sector from FY 2020-21 to FY 2024-25 across all States and UTs, resulting in an increase in exports.