India’s Seafood Exports Set to Reach Record Level of USD 8 billion

In 2021-22, India exported 13,69,264 tonnes of marine merchandise price US$ 7.76 billion (Rs 575.86 billion), an all-time excessive when it comes to worth, whereas shrimp manufacturing exceeded a million MT. Frozen shrimp remained a very powerful export merchandise when it comes to amount and worth, accounting for 53% of whole income and 53% of whole quantity.

D.V. Swamy, chairman of the Marine Merchandise Export Improvement Authority (MPEDA), expressed optimism about reaching new heights by way of a multifaceted technique based mostly on sustainable fishing strategies, worth addition, elevated aquaculture manufacturing by way of diversification, and aggressively coming into new markets.

“Moreover, the discount in customs obligation on substances used within the manufacture of aquatic feed, similar to fish lipid oil, fish meal, Krill meal, mineral, and vitamin premix, will assist to scale back manufacturing prices, offering a aggressive edge to your entire stakeholders of the aquaculture trade,” Swamy mentioned.

MPEDA has organized round 40 Digital Purchaser Vendor Meets (VBSMs) with Japan, China, Russia, the UK, Vietnam, Germany, Malaysia, South Korea, Oman, Singapore, and Spain as a part of its technique to extend exports in FY 2022-23.

MPEDA investigated the seafood market in China, the second largest importer of Indian seafood, and comparable research are deliberate for nations within the Commonwealth of Unbiased States, the Center East, and South East Asia.

Swamy additionally acknowledged that the Rajiv Gandhi Centre for Aquaculture (RGCA), MPEDA’s expertise standardization and switch wing, is establishing a pilot venture of Broodstock Multiplication Centre (BMC) of Penaeus monodon (tiger prawn) developed from the Andaman and Nicobar Islands in Visakhapatnam with the help of the Division of Fisheries.

“MPEDA has been making obligatory interventions in seafood manufacturing, worth addition, and market promotion to achieve the goal,” Swamy mentioned.

First printed on: 14 Feb 2023, 19:32 IST