What's new in Budget 2026-27 for Indian exporters?

Finance Minister Nirmala Sitharaman on Sunday announced a set of customs and trade facilitation measures in the Union Budget 2026-27 to boost exports, with special focus on fisheries, e-commerce and small businesses.

In a major relief to the fisheries sector, Sitharaman said fish caught by Indian vessels in the Exclusive Economic Zone (EEZ) or on the high seas will be made duty-free, while landing of such catch at foreign ports will be treated as export of goods.

“To support Indian fishermen to fully harness the economic value of marine resources beyond our territorial waters…, fish catch by an Indian fishing vessel in the Exclusive Economic Zone or on the High Seas will be made free of duty,” she said in her Budget speech.

“Landing of such fish on foreign port will be treated as export of goods,” she added.

The minister underlined that safeguards would be put in place to prevent misuse during fish catch, transit and transhipment.

Explaining the rationale, the Central Board of Indirect Taxes and Customs (CBIC) said fishing activities under the Customs Act, 1962 are currently confined to territorial waters. As a result, fish caught by Indian-flagged vessels in the EEZ or on the high seas, when landed at Indian ports, is treated as imports and attracts duty, leading to procedural and operational difficulties for the sector.

“It is proposed to amend the Customs Act, 1962 to extend its jurisdiction beyond territorial waters for fishing activities by Indian-flagged vessels,” CBIC said.

The proposed changes will allow duty-free import of fish caught in the EEZ and high seas and provide export treatment when such catch is landed at foreign ports.

As part of the Finance Bill, 2026, the government will amend the Act to extend its jurisdiction for fishing and related activities, define “Indian-flagged fishing vessel” and insert a new section providing special provisions for fishing beyond territorial waters.

According to the CBIC, the move will help in sustainable utilisation of marine resources, improve fishermen’s livelihoods, strengthen the seafood industry and diversify India’s export base.

In another key announcement for exporters, Sitharaman said the government will remove the existing value cap of ₹10 lakh per consignment on courier exports to support small businesses, artisans and start-ups accessing global markets through e-commerce.

“To support aspirations of India’s small businesses, artisans and start-ups to access global markets through e-commerce, I am pleased to announce complete removal of the current value cap of ₹10 lakh per consignment on courier exports,” she said.

CBIC said the exporters will be able to ship goods of any value through courier channels, eliminating the need to divert shipments to conventional air or sea cargo solely due to value restrictions.

The Economic Survey, released ahead of the Budget 2026, highlighted that India was yet to fully tap its agriculture export potential. Despite being the world’s second-largest producer, its global export share remains only 2.2%, held back by supply constraints, weak infrastructure and frequent export bans.

In Budget 2025, the government announced Export Promotion Mission to improve infrastructure, simplify rules, support digital tools, and help exporters at every stage of their work.