India's fisheries sector witnesses rise with around 8% share in global fish production - World News Network

New Delhi [India], February 15 (ANI): India’s fisheries sector has witnessed significant growth and transformation over the past two decades, the Ministry of Fisheries, Animal Husbandry and Dairying said in a release on Saturday.
India is the second largest fish-producing country with around 8 per cent share in global fish production.
From technological advancements to policy reforms, the period from 2004 to 2024 has been marked by milestones that have bolstered India’s position in global fisheries and aquaculture.
The Union Budget 2025-26, proposed the highest-ever total annual budgetary support of Rs. 2,703.67 crores for the fisheries sector.
“This is a testament to India’s achievement as a leader in aquaculture and seafood exports,” the ministry said.
The 2025-26 budget announcement strategically focuses on enhancing financial inclusion, reducing the financial burden on farmers by reducing customs duties and furthering the development of the marine fisheries.
Additionally, The Budget 2025-26 highlights enabling a framework for sustainable harnessing of fisheries from the Exclusive Economic Zone (EEZ) and High Seas with a special focus on Lakshadweep and A&N Islands.
This will ensure sustainable harnessing of the untapped potential of the marine fish resources in the Indian EEZ and adjacent High Seas for growth in the marine sector.
The Government of India also increased the Kisan Credit Card (KCC) lending limit from Rs 3 lakh to Rs 5 lakh to enhance credit accessibility for fishers, farmers, processors and other fisheries’ stakeholders.
The ministry said that this move aims at streamlining the flow of financial resources ensuring that necessary funds are easily accessible for fulfilling working capital requirements of the sector.
As per the ministry’s data, the fish production increased to an impressive 184.02 lakh tons (2023-24) from 95.79 lakh tons (2013-14) and 63.99 lakh tons (2003-04) registering an increase of 88.23 lakh tons in 10 years (2014-24) as compared to an increase of 31.80 lakh tons (2004-14).
A tremendous increase of 77.71 lakh tons was achieved in Inland and Aquaculture fish production from 2014-24 as against the 26.78 lakh tons achieved from 2004-14, the official data shows.
The marine fish production doubled to 10.52 lakh tons (2004-14) from 5.02 lakh tons (2014-24).
As reported by Marine Products Export Development Authority (MPEDA), during the financial year 2023-24, India exported 17,81,602 MT of Seafood worth Rs 60,523.89 Crore.
The export value has witnessed a significant jump from 609.95 Crore in 2003-04, the ministry said. (ANI)

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News