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Fish production in India is set to cross 13 million tonnes from the current level of nine million tonnes by 2016, according to a study by the Associated Chambers of Commerce and Industry of India.
The apex industry body, which released the report titled 'Fisheries — A price catch in the Indian export basket', said with proper incentives and investments in infrastructure, fish production could grow at a CAGR of about seven per cent during the next four to five years from the current level of 3.5 per cent.
R. Sannareddy, Chairman of the Assocham Southern Regional Council, said 67 per cent of the total fish produced in India is consumed in the fresh form due to low demand for value-added products.
Andhra Pradesh accounts for 16 per cent of the country's total fish production and is the second highest producer in India, with a total catch of 13.5 lakh tonnes annually.
The study said export demand is about eight to ten per cent of the total fish production. Exports are expected to increase from $3 billion currently to $4.7 billion by 2014.
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