The COVID-19 pandemic-induced lockdown has indisputably affected the aquaculture industry across the globe. India imposed a nationwide lockdown to contain the outbreak of COVID-19 that disrupted normalcy and economic activities. The fisheries sector was also highly affected. Hence, a study was conducted from July to December 2020 to understand the stakeholders’ perception of the impact of COVID-19 lockdown, wherein 517 stakeholders participated (online) in the first stage. The policy reforms suggested by the stakeholders were referred to the fisheries experts in the second stage for prioritization towards implementation. Data analysis depicted that a majority (81%) of the stakeholders were aware of COVID-19 lockdown impacts on their businesses. Due to this unprecedented lockdown, labour availability was hampered, transport facilities were fully halted and access to inputs like seed, feed, and advisory were largely affected. Importantly, all stakeholders unanimously adduced to the uncertainty over the future of the fisheries sector. Moreover, fishery experts feel that enabling policies for the promotion of awareness, appropriate training, and transparency in the implementation of schemes, credit facilities, and price regulation can have a massive positive impact. Furthermore, the study also recommends utilizing the potential of e-resources (ICTs and IoT) to digitize the business networking of fishery sector stakeholders.