India’s Blue Economy is powerful economic engine as seafood exports grow: Goyal

India’s Blue Economy is becoming a potent economic engine due to growing seafood exports and increasing demand for Indian marine products globally, said Union Commerce and Industry Minister Piyush Goyal on Wednesday.

India’s fishermen were reaping the benefits of expanded market access and increasing export prospects, with seafood exports reaching a record high in FY 2025–2026, he said.

Goyal highlighted the industry’s fast growth by pointing out that since FY 2013–14, seafood exports have increased by around 145 per cent.

“Our fisherfolk are benefiting from expanded markets and rising exports, with seafood exports reaching an all-time high in FY 2025-26. With nearly 145 per cent jump in exports since FY 2013-14, India’s Blue Economy is emerging as a powerful engine of growth,” the minister said.

In the meantime, India’s seafood exports reached a record high in both volume and value in 2025–2026, demonstrating the industry’s endurance in the face of unstable international trade conditions and bolstering India’s image as a significant supplier to foreign markets.

The Marine Products Export Development Authority (MPEDA) said on June 1 that India exported 19.72 lakh metric tonnes of seafood during the financial year, valued at Rs 73,890 crore, the biggest amount ever made by the industry.

MPEDA Chairman P Jawahar released the numbers and stated that the record accomplishment was attained in spite of a number of international obstacles, such as fluctuating demand trends and market unpredictability.

Over two-thirds of India’s overall export revenue came from frozen shrimp, which continued to dominate the country’s seafood export basket.

Around 66.5 per cent of the entire foreign cash gains from seafood exports came from shrimp exports, which brought in Rs 49,038 crore.

The United States continues to be the biggest importer of frozen shrimp, followed by China and the European Union, with export volumes reaching 7.93 lakh metric tonnes.

With USD 2.33 billion in seafood imports, the US continued to be India’s biggest seafood market by value.