India Sets $30 Billion Seafood Export Target, Eyes Global Market Expansion

India's seafood industry could emerge as one of the country's biggest export success stories over the next decade, with Union Commerce and Industry Minister Piyush Goyal setting an ambitious target of USD 30 billion in marine product exports within five years , nearly four times the current level of around USD 8 billion .

Speaking at the National Workshop on Seafood Exports, Goyal said the goal was discussed with Union Fisheries Minister Rajiv Ranjan Singh (Lalan Singh) and would require a focused push towards higher production, better quality standards, value-added products, and market diversification . The minister noted that India's marine exports have already grown significantly, rising from about USD 5 billion in 2013-14 to current record levels, representing nearly 70 per cent growth over the period.

The announcement comes at a time when India's seafood sector is witnessing strong momentum. The country exported marine products worth approximately USD 8.46 billion (₹73,890 crore) in FY 2025-26, the highest ever recorded in both value and volume. Export volumes reached nearly 19.72 lakh metric tonnes , underlining India's growing importance in the global seafood trade.

A major contributor to this growth has been frozen shrimp , which continues to dominate the export basket. Shrimp exports generated more than USD 5.6 billion , accounting for around 66.5 per cent of total export earnings . Key markets such as the United States and China remain among the largest buyers of Indian seafood products, helping drive the sector's expansion.

Goyal pointed out that the global marine products market expanded by around 10 per cent in 2024 , reaching nearly USD 160 billion . With India's top ten export destinations accounting for almost 80 per cent of total seafood exports , he stressed the need to explore new opportunities in regions such as Latin America, Africa, Eastern Europe, the Gulf countries, and other high-income markets .

The government is also banking on policy support to accelerate growth. Under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) , the Centre has committed ₹21,000 crore to strengthen fisheries infrastructure, improve aquaculture productivity, and support exporters. In addition, India has concluded nine Free Trade Agreements (FTAs) over the past three to three-and-a-half years, covering 38 developed and high-income countries , potentially providing Indian seafood exporters with improved market access.

Industry experts believe achieving the USD 30 billion target will require greater emphasis on value-added seafood products , including ready-to-cook and ready-to-eat offerings, premium packaged shrimp, and processed fish products that command higher prices globally.

States such as Andhra Pradesh , which serves as the backbone of India's aquaculture and shrimp farming industry, are expected to play a critical role in this expansion. While challenges such as disease outbreaks, climate risks, quality compliance requirements, and trade barriers remain, the government's ambitious vision signals a strategic effort to transform fisheries from a livelihood sector into a major pillar of India's export economy.