New Delhi | RBN News
Union Finance Minister Nirmala Sitharaman on Saturday announced a set of targeted measures in the Union Budget 2026–27 aimed at enabling Indian fishermen to unlock the full economic potential of marine resources beyond India’s territorial waters.
While presenting the Budget in Parliament, the Finance Minister said the government is focused on strengthening India’s marine economy and enhancing income opportunities for fishermen operating in the Exclusive Economic Zone (EEZ) and on the high seas.
As part of the proposed initiatives, the government will exempt fish caught by Indian fishing vessels in the EEZ or in international waters from customs duty. This move is expected to reduce operational costs and improve profitability for deep-sea fishing operations.
In another key announcement, the Finance Minister stated that fish landed at foreign ports by Indian vessels will be treated as exports of goods. This classification is aimed at facilitating smoother trade processes and providing formal recognition to overseas landings by Indian fishermen.
At the same time, the government has indicated that safeguards will be introduced to prevent misuse during fish catch, transit, or transhipment, ensuring regulatory compliance and transparency.
Experts believe these measures could significantly boost India’s marine exports, promote deep-sea fishing capabilities, and strengthen the livelihoods of coastal communities, while aligning with the broader vision of a sustainable blue economy.
