The demersal fish production in India has shown steady growth over the past decade, with a noticeable leap from 1.08 million metric tons in 2014 to 1.46 million metric tons in 2023. From 2015 to 2016, production surged with a 19.74% increase, while 2020 experienced a significant downturn (-15.63%) likely due to the COVID-19 pandemic. Nevertheless, the sector rebounded strongly, highlighted by a 16.28% increase in 2021 and consistent growth thereafter, reaching 1.48 million metric tons in 2023.
The Compound Annual Growth Rate (CAGR) for the past five years (2019-2023) stands at 1.58%, indicating a positive trend despite temporary setbacks. The forecast for the coming years remains optimistic, with projected growth continuing through 2028 at a CAGR of 1.17%, expecting to surpass 1.57 million metric tons.
Future Trends to Watch For:
- Impact of climate change on marine ecosystems affecting fish stocks.
- Technological advancements in sustainable fishing practices.
- Government policies and subsidies influencing production rates.
- Global economic conditions impacting export demands and internal consumption.
