In this case study, a survey was carried out to provide an initial assessment of Aquarium Fish Trade in Bhopal district of Madhya Pradesh, India. A sum of 23 aquarium shops were established in Bhopal district; where 80 aquarium fish species round, out of which 19 species were bred by 3 breeders for marketable size fish production and in domestic trade 24 indigenous and 56 exotic ornamental fish species were recorded out of 80 fish species. In the present study, Asian Arowana was the most expensive species (35000 – 150,000/Piece) followed by Silver Arowana (5000 – 25000/Piece), Flower Horn (3000 - 25000/Piece), Discus (500 – 5000/Piece), Red Parrot (400 – 3000/Piece), Oscar (300 - 3000/Piece) and Dollar (250 – 2000/Piece). Most of the other species were sold usually below 2000/Piece/Pair. All aquarium fish species were imported from the internationals markets like Singapore, Malasiya, Thailand, etc. Importer/Wholesalers and breeders marketed them to retailers, local breeders, shopkeepers etc. and finally the shop keepers sold them to the aquaria owners. During this survey, it was found that the breeders used Cement Cistern, Glass Aquaria and even FRP Tanks as culture tanks. They bred aquarium fish all over the Year. The aquarium fish traders of Bhopal district were categorized in to three groups such as (A) Aquarium fish and aquarium accessories seller (76.92%), (B) aquarium fish, aquarium accessories along with breeding (11.54%) and (C) only aquarium fish breeders (11.54%). From the economic analysis it was found that the benefit cost ratio and rate of return on total cost were the highest for the group C which were 6.67and 85% respectively.