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Informist, Sunday, Feb. 1, 2026

--BUDGET: To develop 500 reservoirs for fisheries sector 

--BUDGET: To strengthen fisheries value chain in coastal areas 

--BUDGET: No duty on fish catch by Indian vessel in exclusive econ zones 

--BUDGET: Fish landing in foreign ports from India EEZ to be treated as export 

MUMBAI – The government will undertake initiatives for the development of 500 reservoirs and 'Amrit Sarovars', and to strengthen the fisheries value chain in coastal areas, enabling market linkages involving start-ups and women-led groups together with Fish Farmers Producer Organisations, according to the Union Budget for 2026-27 (Apr-Mar) presented by Finance Minister Nirmala Sitharaman in the Lok Sabha Sunday.

To support the country's fishermen to fully harness the economic value of marine resources beyond territorial waters, the government will not put any duty on fish catch by an Indian fishing vessel in Exclusive Economic Zones or on the high seas. Landing of such fish in foreign ports will be treated as export of goods, Sitharaman said. Safeguards will be also be put to prevent the misuse during the catching of fish, transit, and transshipment.

"A new section 56A is being inserted to provide special provisions for fishing and fishing related activities by an Indian-flagged fishing vessel beyond territorial waters of India. It also provides that fish harvested beyond the territorial waters of India may be brought into India free of duty and to treat fish that has landed at foreign port as export of goods in such manner as may be provided by rules," Sitharaman said.

The section also provides to make regulations to provide for the form and manner of making an entry in respect of fish harvested by an Indian-flagged fishing vessel including its declaration, custody, examination, assessment of duty, clearance, transit or transhipment.  End

Reported by Ashutosh Pati

Edited by Vandana Hingorani

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