₹6,000-crore fisheries sub-scheme strengthens formalisation, aquaculture insurance, cooperatives and micro-enterprises across India

Key Highlights

• 35.92 lakh fishers, fish farmers and other stakeholders registered on the National Fisheries Digital Platform as of August 6, 2026.
• 3,829 primary fisheries cooperatives approved for strengthening at a total cost of ₹72.75 crore.
• Aquaculture insurance coverage reached 2,294 hectares, with 127 beneficiaries receiving ₹40.03 lakh in one-time incentives.
• Banks sanctioned 535 loans worth ₹28.04 crore under the credit module.
• 84 performance-grant applications approved with eligible grants of ₹20.55 crore.
• ₹4.33 crore in performance grants released to 21 beneficiaries.
• PM-MKSSY is being implemented with an estimated outlay of ₹6,000 crore through FY2026–27.

PM-MKSSY Drives Formalisation of Fisheries Sector

The government’s Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) is expanding the formalisation of India’s fisheries and aquaculture sector, with millions of stakeholders now registered on a national digital platform and increased access to institutional credit, insurance and enterprise support.

The Central Sector sub-scheme is being implemented under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) for four years from FY2023–24 to FY2026–27, with an estimated outlay of ₹6,000 crore.

The latest status was provided by Union Fisheries, Animal Husbandry and Dairying Minister Rajiv Ranjan Singh alias Lalan Singh in the Lok Sabha.

35.92 Lakh Stakeholders Join National Fisheries Digital Platform

The National Fisheries Digital Platform (NFDP) was launched under PM-MKSSY to create work-based digital identities for fishers, fish farmers and other stakeholders.

As of August 6, 2026, around 35.92 lakh stakeholders had registered on the platform.

The digital platform is designed to bring informal fisheries businesses into the formal ecosystem while improving access to government services, institutional finance and other support programmes.

According to the State-wise annexure, 20.09 lakh small and micro fisheries enterprises have been supported under the formalisation, credit, cooperative-strengthening and aquaculture-insurance components.

3,829 Fisheries Cooperatives Approved for Strengthening

The government is also using PM-MKSSY to strengthen fisheries cooperatives and improve their institutional and market capabilities.

A total of 3,829 primary fisheries cooperatives have been approved for strengthening at a total cost of ₹72.75 crore.

The scheme aims to help cooperatives improve market access, obtain finance, develop business plans and provide need-based support to their members.

Aquaculture Insurance Gets One-Time Incentive

PM-MKSSY provides financial incentives to encourage aquaculture farmers to adopt insurance.

The scheme provides a one-time incentive covering 40% of the insurance premium, subject to a ceiling of ₹25,000 per hectare or ₹1 lakh per farmer for up to four hectares.

SC/ST and women beneficiaries receive an additional 10% incentive.

As of August 6, aquaculture insurance policies covering 2,294 hectares had been reported, while 127 beneficiaries covering 321.74 hectares had received one-time incentives totalling ₹40.03 lakh.

₹28.04 Crore in Loans Sanctioned

The credit component of PM-MKSSY is designed to improve access to institutional finance for fishers, fish farmers and fisheries micro and small enterprises.

So far, banks have sanctioned 535 loans amounting to ₹28.04 crore, while 180 beneficiaries have availed the Success Fee benefit.

Improved access to formal credit could help fisheries enterprises reduce dependence on informal financing and invest in equipment, production, processing and marketing.

Performance Grants Support Fisheries Enterprises

PM-MKSSY also provides performance-based financial assistance to improve efficiency across the fisheries value chain.

For micro-enterprises, the performance grant can cover 25% of total investment up to ₹35 lakh for the general category and 35% up to ₹45 lakh for SC, ST and women-owned enterprises.

For Village Level Organisations and Federations of SHGs, FFPOs and cooperatives, the grant can cover up to 35% of total investment or ₹2 crore, whichever is lower.

The scheme also provides employment-linked incentives of ₹10,000 per year for male workers and ₹15,000 per year for female workers, subject to the applicable grant ceiling.

So far, 84 applications have been approved with eligible performance grants of ₹20.55 crore. Of these, ₹4.33 crore has been released to 21 beneficiaries.

Madhya Pradesh accounted for the largest number of supported enterprises under the performance-grant component with 28, followed by Assam with 20 and Maharashtra with nine.

Building Safer and More Efficient Fish Supply Chains

PM-MKSSY also focuses on improving fisheries value-chain efficiency and establishing supply chains for safe fish and fishery products.

The programme seeks to encourage micro and small businesses to invest in better handling, processing, marketing and distribution systems while creating and retaining employment.

This could become increasingly important as India’s fisheries sector moves towards greater formalisation and stronger domestic and export-oriented markets.

Impact on Hospitality, Food and Tourism

The formalisation of fisheries businesses under PM-MKSSY could have a significant impact on India’s hospitality, seafood and culinary tourism sectors.

For hotels and restaurants: Better organised fisheries enterprises and improved access to institutional finance could support more reliable sourcing of fish and aquaculture products.

For seafood quality: Aquaculture insurance, formal supply chains and performance grants can encourage investment in better production, handling and distribution practices.

For food processing: Financial support for micro and small enterprises could accelerate investment in fish processing, packaging, cold chains and value-added seafood products.

For culinary tourism: Greater formalisation and market access could help regional fish producers connect with restaurants and hospitality businesses looking to showcase local seafood.

For coastal and inland destinations: A stronger fisheries value chain can support destination-specific culinary experiences built around local fish, traditional recipes and community-based food tourism.

Bottom Line

PM-MKSSY is moving India’s fisheries sector towards a more formal, digitally connected and financially supported ecosystem. With 35.92 lakh stakeholders already registered on NFDP, thousands of cooperatives being strengthened and new credit, insurance and performance incentives reaching enterprises, the scheme could improve the connection between fish producers and organised markets.

For hospitality and food businesses, the long-term opportunity lies in a more structured, traceable and quality-focused seafood supply chain capable of serving both domestic consumers and India’s growing culinary and tourism markets.