New Delhi, June 3: Union Minister of Commerce and Industry Piyush Goyal stated on Wednesday that India’s Blue Economy is rapidly emerging as a powerful engine of growth. This is primarily due to the continuous increase in seafood exports and the rising global demand for Indian marine products.
The minister highlighted that fishermen in the country are now benefiting from access to larger markets and growing export opportunities. During the fiscal year 2025-26, India’s seafood exports reached an all-time high.
Goyal noted that there has been an impressive increase of nearly 145% in seafood exports compared to the fiscal year 2013-14.
“Our fishermen are reaping the benefits of new markets and rising exports. The seafood exports in the fiscal year 2025-26 have set a new record, with a growth of approximately 145% since 2013-14. India’s Blue Economy is emerging as a powerful growth engine,” he said.
Meanwhile, during the fiscal year 2025-26, India’s seafood exports reached record levels in both volume and value. This achievement reflects the resilience of the sector despite uncertainties in global trade and strengthens India’s position in international markets.
According to the Marine Products Export Development Authority (MPEDA), India exported 1.972 million metric tons of marine products during the fiscal year 2025-26, with a total value of ₹73,890 crores (approximately $8.46 billion). This marks the largest export performance in the sector to date.
Announcing the figures, MPEDA Chairman P. Jawahar stated that this record achievement was accomplished despite various challenges, including fluctuations in global market demand and trade uncertainties.
Frozen shrimp continues to dominate India’s seafood exports, accounting for more than two-thirds of total export earnings.
The export of frozen shrimp generated ₹49,038 crores (approximately $5.62 billion), which constitutes 66.5% of the foreign exchange earnings from total seafood exports.
The export volume of frozen shrimp increased to 793,000 metric tons, with the United States being the largest buyer, followed by China and the European Union in second and third places, respectively.
In terms of value, the United States remains India’s largest seafood market, importing Indian marine products worth $2.33 billion.
However, there was a slight decline in both the volume and value of exports to the U.S. compared to the previous fiscal year, indicating pressures from changing market conditions and prices.
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