Blog
India’s Fisheries Sector: Strategic Growth and Sustainability
📈 Government Initiatives and Investments
Record Budget Allocation: The Union Budget 2025–26 earmarked ₹2,703.67 crore for the fisheries sector, the highest to date, underscoring the government's commitment to enhancing aquaculture and seafood exports. pib.gov.in+1m.economictimes.com+1
Deep-Sea Fishing and Export Focus: Prime Minister Narendra Modi reviewed sectoral progress, emphasizing deep-sea fishing and seafood exports. The Department of Fisheries launched projects worth ₹255 crore under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) across seven coastal states and union territories. en.wikipedia.org+2m.economictimes.com+2business-standard.com+2
Tax Incentives: The government reduced the Basic Customs Duty (BCD) on shrimp broodstock from 30% to 5% and on fish feed from 15% to 5%, aiming to bolster aquaculture growth and global competitiveness. aquaasiapac.com
🌿 Emphasis on Sustainability and Innovation
Digitalization and Insurance: The Coastal States Fisheries Meet 2025 introduced digital census tools and aquaculture insurance schemes to modernize the sector and mitigate risks. deccanherald.com+3pragativadi.com+3business-standard.com+3
Satellite Technology Integration: The Central Marine Fisheries Research Institute (CMFRI), in collaboration with ISRO, is utilizing satellite technology to identify Potential Fishing Zones (PFZs) and map marine resources, enhancing decision-making in fisheries management. en.wikipedia.org
Community-Led Conservation: In Andhra Pradesh, the Animal Warriors Conservation Society (AWCS) has removed approximately 26,000 kg of ghost nets and 5,455 kg of marine plastics, improving marine biodiversity and increasing fishermen's incomes. timesofindia.indiatimes.com
🌍 Global Fisheries Landscape: Challenges and Progress
🌊 Ocean Conservation Efforts
UN Ocean Conference: The Third UN Ocean Conference in Nice highlighted the urgency of ratifying the Marine Biological Diversity of Areas Beyond National Jurisdiction (BBNJ) treaty, with only 28 of the required 60 nations having ratified it. The conference also emphasized the need to end harmful fisheries subsidies and promote sustainable practices. reuters.com
France's Marine Policies Under Scrutiny: Despite co-hosting the UN Ocean Conference, France faces criticism for allowing bottom trawling in 98% of its marine protected areas, undermining conservation efforts. theguardian.com+1reuters.com+1
📉 Trade Dynamics and Economic Impacts
US Tariffs on Seafood: The United States has imposed a 10% tariff on nearly all seafood imports and a 30% tariff on products from China, leading to increased seafood prices domestically and potential shifts in global trade routes. reuters.com
Global Ocean Economy Growth: Ocean trade reached $2.2 trillion in 2023, with services accounting for 60%. However, developing countries face challenges due to trade imbalances and exposure to tariffs. unctad.org
🐟 Aquaculture's Rising Role
Aquaculture Surpasses Wild Capture: Aquaculture production has surged from 22 million tonnes in 1990 to 94 million tonnes in 2022, now representing over half of global aquatic animal production. This shift addresses overfishing concerns and meets rising seafood demand. unctad.org
World Aquaculture 2025 in India: The World Aquaculture Society has relocated its 2025 event to Hyderabad, India, from November 10–13, highlighting India's growing prominence in the global aquaculture sector. vietfishmagazine.com
⚖️ Legal and Environmental Developments
Chank Fishing Practices Challenged: The Madras High Court has summoned fisheries officials over the continued use of destructive methods in chank fishing, such as compressors and jet pumps, which harm marine ecosystems. timesofindia.indiatimes.com
China's Maritime Expansion: China is demonstrating its coast guard capabilities to Pacific nations, signaling intentions to patrol high seas and inspect fishing vessels, potentially impacting regional maritime dynamics. reuters.com
📌 Conclusion
The fisheries industry in 2025 is navigating a complex landscape of growth opportunities and sustainability challenges. India's proactive policies and technological advancements position it as a leader in sustainable aquaculture. Globally, collaborative efforts are essential to address environmental concerns, trade dynamics, and the need for equitable resource management.
