PM-MKSSY aquaculture insurance and India's fisheries profile

Background

PM-MKSSY's aquaculture insurance initiative provides a structured framework of risk coverage against disease, floods and climatic variability for aquaculture farmers. India's total fish production increased from 9.6 million tonnes in 2013-14 to a record 19.8 million tonnes in 2024-25, a growth of over 106%. India is the second-largest fish producing nation in the world, with about 8% share. Aquaculture now accounts for over about 74% of India's total fish production, and inland production reached 14.74 million tonnes in 2024-25 from 6.1 million tonnes in 2013-14. India's marine product exports rose from USD 5.08 billion in 2013-14 to USD 8.46 billion in 2025-26, with frozen shrimp alone accounting for nearly 66% of total seafood export earnings. The fisheries sector provides livelihoods to over 30 million people. India has 1.95 lakh km of rivers and canals, 31.5 lakh hectares of reservoirs, 22.1 lakh hectares of ponds and tanks, and 14.1 lakh hectares of brackish water area, of which only about 17% has been developed for aquaculture. Average aquaculture productivity has risen to 4.77 tonnes per hectare against a government target of 5 tonnes per hectare under PMMSY.