India’s fisheries sector receives its highest-ever budgetary support in the Union Budget 2026-27, building on a decade of record growth, infrastructure expansion and inclusive welfare measures under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).

The union budget 2026-27 has announced the highest-ever annual allocation of ₹2,761.80 crore for the fisheries sector, marking a significant policy push to strengthen food security, generate rural employment and boost export earnings. Of this, ₹2,530 crore will be channelled through targeted schemes, with the flagship Pradhan Mantri Matsya Sampada Yojana (PMMSY) receiving ₹2,500 crore. The announcement comes at a time when India has already emerged as the world’s second-largest fish producer, with output surging 106 per cent from 95.79 lakh tonnes in FY 2013-14 to 197.75 lakh tonnes in FY 2024-25. Seafood exports crossed ₹62,408 crore in FY 2024-25, led by frozen shrimp shipments to the United States and China.

Budgetary Boost Underscores Strategic Importance

The fisheries sector now contributes nearly 7.43 per cent to agricultural Gross Value Added – the highest share among all allied sectors – and supports the livelihoods of nearly three crore people, particularly in coastal and inland communities. Since the launch of the blue revolution in 2015, successive policy measures have transformed the sector from traditional capture fisheries to a modern, technology-driven value chain aligned with the sustainable development goals. Observers of the sector say that the budget 2026-27 allocation reflects this strategic shift, prioritising capital-intensive investments in modern aquaculture, post-harvest infrastructure and fisher welfare.

The Pradhan Mantri Matsya Sampada Yojana (PMMSY), launched in 2020, remains the cornerstone of this transformation. Thus far, the scheme has approved development of 23,285 hectares of pond area for inland aquaculture, 52,058 reservoir cages, 27,189 fish transportation units, 634 value-added enterprises including ice plants and cold storages, and 6,896 fish retail markets and kiosks. Complementary infrastructure such as fishing harbours, landing centres, feed mills and cold chains is being strengthened to reduce post-harvest losses and improve market linkages.

PMMSY Fuels Infrastructure and Productivity

Under PMMSY, the government is promoting high-density, resource-efficient aquaculture models to enhance productivity while conserving water and land. Recirculatory aquaculture systems (RAS) recycle water by filtering waste, enabling intensive farming on minimal land. 12,081 RAS units have been approved with an investment of ₹902.97 crore. Similarly, bio-floc technology uses beneficial microbes to convert organic waste into feed, improving water quality and supporting sustainable high-density farming. Over 4,205 bio-floc units have been sanctioned.

These interventions are complemented by the Fisheries and Aquaculture Infrastructure Development Fund (FIDF), extended for three more years until March 2026. As of January 2026, 225 projects worth ₹6,685.78 crore have been approved, mobilising ₹754.50 crore from private enterprises. Completed projects have provided safe berthing for over 8,100 fishing vessels, increased fish landings by 1.09 lakh tonnes, benefited 3.3 lakh fishers and generated nearly 2.5 lakh direct and indirect jobs.

Financial Inclusion and Risk Mitigation Reach Millions

Financial security for fishers has been significantly enhanced through dedicated schemes. The kisan credit card (KCC) facility, extended to fisheries since 2019, now offers credit up to ₹5 lakh. As per the economic survey 2024-25, KCC benefits have reached 4.39 lakh fishers. Insurance coverage has been extended to 3.3 million beneficiaries, while livelihood support during fishing ban and lean periods has reached an average of 7.44 lakh fisher families.

The Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY), a central sector sub-scheme under PMMSY with an outlay of ₹6,000 crore for 2023-24 to 2026-27, is accelerating formalisation, insurance, institutional credit and traceability. Additionally, 2,195 fisheries farmer producer organisations (FFPOs) have been formed with an investment of ₹544 crore to improve market access and bargaining power for small fishers. Since 2014-15, fisheries-related schemes have generated an estimated 74.66 lakh direct and indirect employment opportunities.

Digital Governance and Sustainable Practices Set New Benchmarks

Digital transformation is bringing transparency and efficiency to the sector. The national fisheries digital platform (NFDP), launched in September 2024 under PM-MKSSY, has registered over 30.60 lakh stakeholders and integrated 12 banks, enabling seamless access to credit, insurance and incentives. The platform serves as a single-window system for work-based digital identities and data-driven policymaking.

The national marine fisheries census 2025, conducted with advanced digital tools including custom mobile applications VyAS–NAV, VyAS–BHARAT and VyAS–SUTRA, has generated the first comprehensive geo-referenced socio-economic profiles of fisher households. Inland reservoir development under mission amrit sarovar has integrated fisheries activities in 1,222 water bodies out of 68,827 amrit sarovars created so far, with plans to develop 500 reservoirs and amrit sarovars further.

On the sustainability front, the government notified rules and guidelines for sustainable harnessing of fisheries in the exclusive economic zone (EEZ) and high seas in 2025. These measures, along with duty-free treatment for catch landed abroad and processed as exports, aim to enhance global competitiveness while ensuring resource conservation. India’s 11,099 km coastline and 24 lakh sq km EEZ sustain over 50 lakh fishing community members across 13 maritime states and union territories.