
Country’s seafood exports have risen from Rs 46,662.85 crore in FY-20 to Rs 60523.89 crore in 2023-24, reflecting a growth of 29.70 per cent.
The Economic Survey highlights that in the fiscal year FY24, the value of agri-food exports, which includes processed food exports, reached USD 46.44 billion, constituting roughly 11.7 per cent of India’s total exports. Notably, the share of processed food exports within agri-food exports has risen from 14.9 per cent in FY18 to 23.4 per cent in FY24.
The Economic Survey conveys that the government has implemented several initiatives to enhance the fisheries sector’s production which include Pradhan Mantri Matsya Sampada Yojana (PMMSY) to boost aquaculture productivity and improve fisheries management, Fisheries and Aquaculture Infrastructure Development Fund (FIDF) to provide financial support for developing infrastructure in both marine and inland fisheries. Other initiatives include the establishment of fishing harbours and fish landing centres, the adoption of innovative production technologies such as cages, Recirculating Aquaculture Systems (RAS), bio flocs, pens, and raceways. Due to these initiatives, total fish production (both inland and marine) has surged to 184.02 lakh tonnes in FY 23, up from 95.79 lakh tonnes in FY14. Furthermore, India’s seafood exports have risen from Rs 46,662.85 crore in FY-20 to Rs 60523.89 crore in 2023-24, reflecting a growth of 29.70 per cent. Under the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY), the National Fisheries Digital Platform (NFDP) successfully mobilized and registered 16.35 lakh fish producers, workers, vendors, and processors within a short timeframe of just four months.