The Budget underscores a clear shift—transforming fisheries from a subsistence-based activity into a competitive, value-led growth driver through policy reforms, infrastructure upgrades, and deeper market integration across coastal and inland ecosystems.

On February 1, 2026, Finance Minister Nirmala Sitharaman unveiled the Union Budget for FY 2026–27, highlighting sectors that drive rural employment and exports. The fisheries sector — long overlooked — gained the spotlight, reflecting the Government’s aim to unlock its untapped potential. Fisheries sustain millions of livelihoods, provide vital nutrition, and increasingly contribute to India’s export earnings.

Over the past decade, India’s fish production has more than doubled, rising 106 per cent from 95.79 lakh tonnes in FY 2013–14 to 197.75 lakh tonnes in FY 2024–25. Inland fisheries and aquaculture led the growth, expanding 147 per cent from 61.36 lakh tonnes to 151.60 lakh tonnes. Exports have doubled from Rs 30,213 crore to Rs 62,408 crore, cementing India’s position as a global seafood powerhouse. Coastal aquaculture, especially shrimp farming, surged 296 per cent from 3.22 lakh tonnes to 12.76 lakh tonnes, driven by entrepreneurs, youth, and women, showcasing the sector’s potential for inclusive and sustainable growth.

Budgetary Allocations: Numbers That Count

Despite the spotlight on fisheries in the Budget discourse, the sector’s allocation has risen by a mere 2 per cent over the previous fiscal year. In FY 2025–26, the Department of Fisheries received Rs 2,703.67 crore, of which only Rs 1,732.95 crore was effectively utilized.

For FY 2026-27, the allocation has inched up to Rs 2,761.80 crore, reflecting cautious fiscal augmentation. Analysts observe that while the absolute outlay remains modest, the Budget introduces far-reaching regulatory reforms and structural measures poised to shape the sector’s trajectory, potentially driving sustainable growth, efficiency, and global competitiveness.

As Ravindra Boratkar, Publisher & Managing Editor of AgroSpectrum India, notes: “Among allied sectors, fisheries emerges as a major growth engine, receiving the highest-ever annual budgetary support of Rs 2,761.80 crore. Continued focus on the Pradhan Mantri Matsya Sampada Yojana (PMMSY), with an allocation of Rs 2,500 crore, integrated development of 500 reservoirs and Amrit Sarovars, and improved market linkages involving start-ups, women-led groups, and Fish Farmer Producer Organisations (Fish FPOs) point to a comprehensive value-chain approach.

Progressive measures—such as duty-free fish catch by Indian vessels in the Exclusive Economic Zone (EEZ) and high seas, and recognition of landings at foreign ports as exports—are expected to expand global market access and attract private investment in deep-sea fishing and processing infrastructure.”

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