India is the 2nd largest producer of fish in the world and about 68% of India’s fish comes from the aquaculture sector. In terms of employment, the sector supports the livelihood of over 28 mn people in India especially the marginalized and vulnerable communities. Export earnings from the fisheries sector was $6 bn during 2020-21.
The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying is implementing a flagship scheme “Pradhan Mantri Matsya Sampada Yojana (PMMSY)- A scheme to bring about Blue Revolution through sustainable and responsible development of fisheries sector in India” with highest ever investment of INR 20,050 crore for a period of five years with effect from the financial year 2020-21 to 2024-25 in all States/Union Territories(UTs).
India’s top export destinations for fish and fish products are China, USA, Southeast Asia, European Union, and Japan.
100% FDI is allowed under the automatic route in pisciculture and aquaculture sector in India .