NEW DELHI, 1 February 2026: The Union Budget 2026–27 has delivered a major push to India’s fisheries sector, announcing the highest-ever annual allocation of INR 2,761.80 crore to strengthen production, exports, and fisher livelihoods. Of this, INR 2,530 crore has been earmarked for scheme-based interventions, with the Pradhan Mantri Matsya Sampada Yojana (PMMSY) continuing as the flagship programme with INR 2,500 crore.
In a significant export-oriented reform, the government has proposed that fish caught by Indian vessels in the Exclusive Economic Zone (EEZ) and high seas will be duty-free, while landings at foreign ports will be treated as exports. The move is expected to open new overseas markets and improve earnings for fishers operating beyond territorial waters. Safeguards will be implemented to prevent misuse during transit and transshipment.
To improve competitiveness of seafood processors, the Budget has also raised the duty-free import limit for specified inputs from 1% to 3%. This step aims to reduce input costs, enable compliance with strict global quality standards, and boost value-added seafood exports to key markets such as the EU, Japan, South Korea, and the UK.
The government will support the integrated development of 500 reservoirs and Amrit Sarovars to expand inland fisheries and strengthen market linkages. Around 200 fisheries start-ups and 34 production and processing clusters will receive assistance to drive innovation and efficiency across the value chain. Fish Farmer Producer Organisations (Fish FPOs), women-led groups, and cooperatives are also set to benefit.
India’s fisheries sector has emerged as a key growth driver within the blue economy, supporting nearly three crore livelihoods. Production has more than doubled over the past decade to 197.75 lakh tonnes, while seafood exports have risen to ₹62,408 crore.
Collectively, these measures are expected to enhance global competitiveness, increase foreign exchange earnings, generate employment, and promote sustainable growth across coastal and inland fishing communities.
