Blue Economy Rising: Fisheries Take Centre Stage

On February 1, 2026, when Nirmala Sitharaman unveiled the Union Budget 2026-27, fisheries stood out as a sector of strategic focus. Once viewed as peripheral, it now underpins rural incomes, nutritional security, and export expansion, with output and overseas earnings doubling over the past decade. 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.

- Suchetana Choudhury

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

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.