India has set a target of achieving $14 billion in exports of marine products by 2025 and efforts are being made to achieve the target, said Anupriya Patel, Union Minister of State for Commerce and Industry said.

“The seafood export sector is showing a positive trend during this year as well, showing a growth of 3 per cent”, the Minister said at the inaugural function of the 23rd India International Seafood Show 2023 at Kolkata.

Last year, the Indian seafood industry exported 1.36 million tonnes of seafood and achieved a record-high income of $7.76 billion. It has become one of the major seafood baskets of the world, particularly for shrimp, the Minister said.

Among top 5 exporters

Pointing out that India is among the top 5 seafood exporting nations supplying quality seafood to over 100 countries, she said “we are the third largest fish producer, second largest aquaculture producer and the fourth largest seafood exporter of the world”.

About 17 per cent of India’s agricultural exports are fish and fishery products. During 2021-22, shrimp production in India crossed 10 lakh tonnes and India occupied second in shrimp production globally, she added.

The Marine Products Export Development Authority will hold a conference on the harmonisation of regulations for seafood among G-20 countries in Delhi in the second half of this year as part of the series of events organized in connection with the G20 Presidency of India, she said.

Fish food festival

A “Fish Food Festival” will be organised in New Delhi, inviting Ambassadors from the top 20 markets of marine products, including G20 countries in the current year. MPEDA will also hold a shrimp conference to bring together stakeholders in the shrimp value chain to make various stakeholders in India’s seafood industry aware of trade regulations and export prospects, she said.

The Union Budget has announced duty concessions on the import of shrimp/fish feed ingredients by slashing down from 15 per cent to five per cent for fish meal/krill meal and vitamin premixes and for fish lipid oil. This would have a remarkable impact on the earnings of aqua farmers, in terms of savings on the total farming cost, she said.

Later speaking to businessline on the sidelines of the function, the Minister said “we are negotiating with several countries for FTAs to promote Indian seafood products. I cannot commit any specific date, but can say that we are progressing well”.

(The writer is in Kolkata at the invitation of MPEDA)

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