Fisheries sector boom: How India doubled fish output and bolstered farmer credit

Mumbai: India’s fish production has nearly doubled over the past 10 years, reaching an all-time high of 197 lakh tonnes in FY 2024–25, the government said on Monday.

During the same period, 4.76 lakh Kisan Credit Cards (KCCs) have been issued to fishers and fish farmers, with ₹3,214.32 crore disbursed under fisheries lending schemes as of June 2025. More than ₹13,000 crore in loans has been approved for the fisheries sector under various programmes.

Under the Fisheries and Aquaculture Infrastructure Development Fund (FIDF), 178 proposals worth over ₹6,369 crore were approved as of July 2025, according to an official statement.

The KCC for Fisheries, launched in 2018–19, remains the main short-term credit tool. Loans carry a 7 per cent interest rate, which drops to 4 per cent on timely repayment.

The FIDF, with a total corpus of ₹7,522.48 crore and validity extended till March 2026, offers 3 per cent interest subvention to borrowers.

To reduce risks for banks, a ₹750 crore Credit Guarantee Fund managed by NABSanrakshan supports collateral-free loans of up to ₹12.5 crore, the Ministry of Fisheries, Animal Husbandry and Dairying said.

The National Fisheries Digital Platform has onboarded 12 nationalised banks. It has processed thousands of applications and enabled remote loan access. Over 19,000 beneficiaries have applied so far, with 350 approvals and disbursements ranging from ₹15,000 to ₹5 crore.

The government has set a target of 220 lakh tonnes of fish production by FY26. The sector currently supports about three crore livelihoods.

In FY25, fisheries exports touched ₹62,408 crore, led by frozen shrimp. The United States and China remained key export markets.

The fisheries sector contributes 7.26 per cent to India’s agricultural Gross Value Added (GVA). Policy measures, including the GST cut on key fish products from 12 per cent to 5 per cent, have boosted domestic consumption and global competitiveness.

IANS