India Retargets ₹1 Lakh Crore Seafood Exports to 2030 Amid Shortfalls

By Admin

23 Feb, 2026

EXPORT TARGET EXTENDED TO 2030

India has officially shifted its ambitious seafood export target of ₹1 lakh crore (US$11.5 billion) from 2025 to 2030, acknowledging revenue shortfalls despite achieving record export volumes.

In FY24, seafood exports reached ₹60,523 crore, with a historic shipment volume of 17.3 lakh tonnes. Over the last four years, export value grew by nearly 30%, touching US$7.37 billion. However, global price fluctuations and tariff pressures have prevented the sector from reaching its earlier financial milestone.

FY25 volumes stood strong at 16.85 lakh tonnes, reflecting an impressive 88% decade-on-decade growth. Yet, overall export value remained under pressure due to global price softness and US import duties.

SHRIMP DOMINANCE AND MARKET DEPENDENCY

Shrimp continues to dominate India’s seafood export basket. Approximately 60% of shrimp exports are directed to the United States, followed by significant demand from the European Union.

While shrimp remains the growth engine, high-value and value-added seafood products account for less than 30% of total exports. Limited product diversification and tariff barriers have restricted access to premium global markets. Additionally, US duties and scrutiny over Vietnam rerouting have created compliance and pricing challenges.

NATIONAL TRACEABILITY FRAMEWORK LAUNCHED

On World Fisheries Day 2025, Union Minister Rajiv Ranjan Singh launched the National Traceability Framework. This initiative mandates digital tracking across the seafood supply chain to enhance sustainability, transparency, and premium market access.

The framework aims to:

• Ensure end-to-end digital tracking
• Improve sustainability compliance
• Strengthen global buyer confidence
• Enable premium pricing for certified exports

By 2030, India targets increasing high-value and value-added exports to 30% of total shipments.

DEEP-SEA EXPANSION AND FTA STRATEGY

To diversify species and markets, India plans to expand deep-sea fishing within its 200-nautical-mile Exclusive Economic Zone (EEZ). Deployment of modern deep-sea vessels will support tuna and other high-value catch expansion.

Simultaneously, Free Trade Agreements (FTAs) with the UK and European Union are being prioritized to reduce tariff barriers, especially for shrimp and tuna exports.

Cold chain infrastructure upgrades at key ports such as Kochi and Visakhapatnam are essential to minimize post-harvest losses and enhance product quality.

SUSTAINABILITY AND INFRASTRUCTURE INVESTMENT

Sustainability remains central to India’s seafood strategy. Adoption of Turtle Excluder Devices (TEDs) is being emphasized to meet environmental standards and protect marine biodiversity.

The Pradhan Mantri Matsya Sampada Yojana (PMMSY), with investments worth ₹38,572 crore, aims to double India’s fish production to 195 lakh tonnes. This large-scale investment supports:

• Modern fishing infrastructure
• Cold storage and logistics expansion
• Coastal employment generation
• Export competitiveness

THE ROAD TO ₹1 LAKH CRORE

India’s seafood sector has demonstrated strong volume growth but now faces the challenge of improving value realization. Moving toward higher value-added products, strengthening traceability, securing FTAs, and upgrading port infrastructure will determine whether the ₹1 lakh crore export target becomes achievable by 2030.

With strategic policy support, sustainability compliance, and global market alignment, India’s seafood industry is positioned to strengthen coastal economies while navigating tariff complexities and evolving global trade dynamics.