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Government enhances institutional finance framework to boost India’s fisheries sector
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Wednesday, 11 February, 2026, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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The Government of India has outlined a strengthened institutional finance ecosystem for the fisheries sector to accelerate growth, enhance livelihoods, and drive the sector’s transformation into a resilient and sustainable economic engine, the Ministry of Fisheries, Animal Husbandry & Dairying announced. The fisheries sector, recognised as a “Sunrise Sector”, contributes around 1.12 percent to India’s Gross Value Added (GVA) and plays a vital role in nutritional security and employment for nearly 30 million people.
India stands today as the world’s second-largest fish producer and the largest aquaculture producer, accounting for approximately 8 percent of global fish production. Leveraging a vast 11,099 km coastline and rich inland water resources, the country’s fish production has nearly doubled over the last decade, reaching 197 lakh tonnes in FY 2024-25 from 95.79 lakh tonnes in 2013-14.
To support continued expansion towards the government’s target of 220 lakh tonnes by FY 2025-26, the Department of Fisheries is prioritising institutional finance to help fishermen, aquaculture farmers, and enterprises access affordable credit. A cornerstone of this effort is the National Fisheries Digital Platform (NFDP) — a single-window digital ecosystem that now serves about 30 lakh stakeholders, facilitating access to credit, insurance, cooperative services, market linkages, and performance-linked incentives.
Key financial instruments supporting the sector include the Kisan Credit Card (KCC) for Fisheries, which has issued 4.76 lakh cards and disbursed Rs 3,214.32 crore as of June 2025, and the Fisheries and Aquaculture Infrastructure Development Fund (FIDF), with a corpus of Rs 7,522.48 crore and interest subvention reducing lending costs to about 5 percent effective interest rate.
To further de-risk lending and expand credit flows, a dedicated Rs 750 crore Credit Guarantee Fund managed by NABSanrakshan offers collateral-free risk coverage for loans up to ?12.5 crore. The combination of digital financing, tailored lending products, and collaborative partnerships with banks is broadening access to institutional finance across scales — from micro-fishers to larger aquaculture and processing units.
This integrated finance strategy is expected to deepen formal credit penetration, strengthen market confidence, and position India’s fisheries sector on a sustainable growth trajectory, contributing to a more inclusive and competitive blue economy.
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