New Delhi, June 3 (IANS). Union Commerce and Industry Minister Piyush Goyal said on Wednesday that India’s Blue Economy (ocean economy) is rapidly emerging as a powerful engine of development. The main reason for this is the continuous increase in the export of seafood products and the increasing demand for Indian marine products in the global market.
The Union Minister said that the fishermen of the country are now getting the benefit of access to bigger markets and increasing export opportunities. India’s exports of seafood products have reached an all-time high during the financial year 2025-26.
Piyush Goyal said that compared to the financial year 2013-14, an increase of about 145 percent has been recorded in seafood exports.
He said, “Our fishermen are benefiting from new markets and growing exports. Seafood exports have set a new record in FY 2025-26. With nearly 145 per cent growth in exports from FY 2013-14, India’s Blue Economy is emerging as a powerful engine of growth.”
Meanwhile, India’s exports of seafood products reached record levels in terms of both quantity and value in FY 2025-26. This achievement reflects the strength of the sector despite uncertainties in global trade and further strengthens India’s position in international markets.
According to the Marine Products Export Development Authority (MPEDA), India exported 19.72 lakh metric tonnes of marine products with a total value of Rs 73,890 crore ($8.46 billion) during the financial year 2025-26. This is the largest export performance of the region so far.
Announcing the figures, MPEDA Chairman P. Jawahar said that this record achievement has been achieved despite several challenges such as demand fluctuations and trade uncertainties in the global market.
Frozen shrimp continued to dominate India’s seafood exports. More than two-thirds of the total export earnings came from this product.
Frozen shrimp exports generated earnings of Rs 49,038 crore ($5.62 billion), which is 66.5 percent of the total foreign exchange earnings from seafood exports.
Export of frozen shrimp increased to 7.93 lakh metric tonnes. America was the biggest buyer of this product, while China and European Union stood second and third.
The US remained India’s largest seafood market in value terms. The US imported Indian marine products worth $2.33 billion.
However, there was a slight decline in both the volume and value of exports to the US compared to the previous fiscal year, reflecting changing market conditions and pressure on prices.
–IANS
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