The emerging sector of ornamental fish farming in India is a viable route for both economic growth and biodiversity preservation. This chapter examines the current situation, challenges, and future prospects in this industry. India has a large biodiversity and a climate that is ideal for fish farming, but it exports very little ornamental fish to the international market. Barriers to the sector’s potential growth include a lack of infrastructure, regulatory uncertainties, and disorganized value chain. Nonetheless, there are other opportunities for expansion, including support from regulators, market diversification, infrastructure spending, capacity creation, and adoption of new technologies. The study highlights the ways in which ornamental fish farming aids in the advancement of science, economic growth, establishment of livelihoods, preservation of biodiversity, and tourism. It concludes with actionable suggestions on how government organizations, academic institutions, and business troupes may work together to realize the sector’s full potential and promote long-term, sustainable growth.