Indian fisheries exports have shown fluctuating trends between 2013 and 2023. After a notable increase in 2014, the value experienced intermittent declines, particularly in 2020 when exports dropped by 15.57%. However, the sector demonstrated resilience, growing 18.1% in 2021, and closing at $7.44 billion in 2023 with a 5.94% year-on-year increase. The five-year CAGR till 2023 stood at 2.29%, indicating moderate growth. Looking ahead, the forecast for 2028 predicts a gradual increase, with a projected CAGR of 1.87%, leading to an overall growth rate of 9.69% over the next five years.
Future trends to watch for:
• The emerging importance of sustainable fishing practices and their impact on exports.
• Technological advancements in aquaculture and their potential to boost productivity.
• Trade policy changes and international market dynamics affecting India's fisheries sector.
• The impact of climate change on marine resources and export volumes.
