The Business Bytes
THEBUSINESSBYTES BUREAU
NEW DELHI, MARCH 18, 2025
The central government has allocated ₹3,490 crore in financial assistance to states, Union Territories, and implementing agencies for the construction and modernization of fishing harbours and fish landing centres. The funds also cover maintenance dredging of existing harbours to enhance seafood exports, which have doubled to ₹60,523.89 crore in the past decade, the Parliament was informed on Tuesday.
This allocation has been made over the last five years (2020-21 to 2024-25) under the Pradhan Mantri Matsya Sampada Yojana (PMMSY). The scheme aims to strengthen fisheries infrastructure, enhance production and productivity, and minimize post-harvest losses in the value chain, Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal informed the Rajya Sabha.
To further support seafood exports, the Marine Products Export Development Authority (MPEDA) — a statutory body under the Ministry of Commerce and Industry — has undertaken various initiatives focused on shrimp production and processing. The government is also modernizing major fishing harbours at Visakhapatnam, Chennai, Paradip, Cochin, and Mumbai. These projects, adjacent to key ports, are being developed under PMMSY in convergence with the Sagarmala scheme, with an investment of ₹651.14 crore.
India achieved a record seafood export volume of 17,81,602 metric tonnes in FY 2023-24, amounting to ₹60,523.89 crore. Looking ahead, the Centre aims to reach an export turnover of $18 billion (₹1.57 lakh crore) by 2030 as part of MPEDA’s Vision Document 2030.
The Department of Fisheries continues to implement PMMSY with a total investment of ₹20,050 crore over five years (2020-21 to 2024-25), covering all states and UTs. The scheme is expected to push marine exports to ₹1 lakh crore by 2024-25, reinforcing India’s position as a major seafood exporter globally.
