Union Finance Minister Nirmala Sitharaman announced transformative measures for deep-sea fishing during her Union Budget 2026 presentation. These reforms enable Indian fishermen to fully exploit marine resources beyond territorial waters through duty exemptions and export recognition.
Duty-Free Fish Catch in EEZ and High Seas
Fish caught by Indian vessels in the Exclusive Economic Zone (EEZ) or international waters gains complete duty-free status. This eliminates landed cost barriers, making deep-sea catches economically viable while incentivizing vessel modernization and safety upgrades for distant operations.
Foreign Landings Treated as Exports
Landing such catches at foreign ports qualifies as merchandise exports, accessing duty drawbacks, RoDTEP benefits, and export financing. Safeguards prevent misuse during catch verification, transit, and transshipment, ensuring genuine deep-sea contributions receive rightful incentives.
Blue Economy Growth Catalyst
Complementing seafood processing duty relief (1% to 3% FOB value), these measures boost marine exports, create jobs in shipbuilding, cold chains, and processing clusters. They position India’s ₹1 lakh crore fisheries sector for sustainable expansion, enhancing food security and foreign exchange earnings.
