India should target USD 30 billion in marine product exports in five years: Union Minister Goyal
PM Matsya Sampada Yojana and FTAs expected to drive fisheries trade growth
Union Minister Piyush Goyal on Friday said the country should target marine product exports worth USD 30 billion over the next five years, up from the current USD 8 billion.
Addressing the National Workshop on Seafood Exports here, Commerce and Industry Minister said that in 2013-14, India exported marine products worth about USD 5 billion.
“Hon’ble Minister Rajiv Ranjan (Lalan) Singh and I discussed this only a week ago when we conceptualised this programme under his leadership. We felt that this sector should set a target of no less than USD 30 billion over the next five years,” Goyal said.
He added that the target could be achieved through higher production and greater attention to quality.
Goyal said India had achieved 70 per cent growth in marine product exports since 2013-14, while the global marine products market grew by 10 per cent in 2024 to reach USD 160 billion.
With India’s top 10 markets accounting for nearly 80 per cent of marine product exports, the union minister said there was a need to reassess the country’s achievements and explore new opportunities.
He expressed hope that the PM Matsya Sampada Yojana, under which the central government has committed Rs 21,000 crore, would provide unprecedented support to promote the fisheries sector and trade.
Goyal said that under Prime Minister Narendra Modi’s leadership, India had concluded nine free trade agreements over the last three to three-and-a-half years.
These nine pacts cover 38 countries, all of which are developed, high-income nations.
