Industry Odisha Bureau, Sep 01: India has launched an experimental effort to place monetary value on marine fish resources. The Ministry of Statistics and Programme Implementation is leading this statistical initiative. MoSPI’s concept paper draws on the UN’s System of Environmental-Economic Accounting framework. The exercise could strengthen how India understands its blue economy. Fisheries carry substantial economic weight, supporting nearly 30 million Indian livelihoods.
India ranks as the world’s second-largest fish producer today. The country contributes approximately 8% of global fish production annually. Total fish output reached 19.77 million metric tonnes during FY25. Inland fisheries accounted for 77%, while marine fisheries contributed 23%. The sector generated ₹1.76 lakh crore, or 1.09% of national GVA.
Marine fish production has expanded considerably over the past decade. Output rose to 46.15 lakh tonnes in 2024-25. This compares favourably with 34.43 lakh tonnes recorded back in 2013-14. Marine exports have similarly flourished across international markets in recent years. Over 350 product varieties now reach 130 countries worldwide.
FY25 marine exports totalled 1.7 million tonnes in overall volume. These exports were valued at ₹62,408.45 crore, growing steadily each year. However, production figures alone cannot reveal a stock’s future sustainability. Natural-capital accounting seeks to determine whether resources are regenerating or depleting.
The proposed methodology uses ten years of species-wise landing data. Current landings get compared against historical peaks for each species. Analysts then estimate each resource’s asset life and rent. Resource rent reflects income after deducting labour, expenses and depreciation. Future benefits get discounted at a proposed 2% real rate.
If successful, India would join a select group of nations. Australia, Norway, Canada, France and the United States already attempt this. India has compiled broader environmental accounts since 2018 through EnviStats. The blue economy is estimated at roughly 4% of GDP currently.
Government support for the sector continues growing substantially each year. The latest budget allocated ₹2,761.8 crore toward blue-economy development overall. PMMSY alone received ₹2,500 crore for the coming year. India’s 11,100-km coastline and vast exclusive economic zone offer considerable potential. NITI Aayog estimates resource potential at 7.16 million tonnes.
The initiative remains experimental, relying on proxy data where information is limited. Marine resources are mobile and constantly changing, making valuation genuinely difficult. Still, better accounting could guide sustainable harvesting and stronger coastal livelihoods. Success will ultimately depend on whether it improves real policy outcomes.
