Government projects marine exports to rise 20% to $5.6 billion in FY17

New Delhi: Marine exports from India are set to rise 20% in 2016-17 to $5.6 billion, the government said Wednesday. 

"...the industry will reverse the decline from last fiscal when total seafood exports stood at 945,892 MT worth $ 4.7 billion," department of commerce said in a release. 

The US and South East Asia are the major importers of Indian seafood and frozen shrimp continued to be the major export item last year, followed by frozen fish. 

Increased competition from Thailand and Vietnam has prompted small and marginal farmers in India, who contribute to the bulk of coastal aquaculture, to adopt global standard marketing strategies such as certification, traceability and eco-labelling. 

"Our higher target for exports this year is in part due to increased production of globally in-demand seafood produce such as Whiteleg Shrimp and Black Tiger Shrimp, and diversification of aquaculture species particularly of Mangrove Crab and Tilapia," said A Jayathilak, chairman of Marine Products Export Development Authority. 

The MPEDA is supporting shrimp culture through cluster farming approach. More than 10,000 farmers have been organized into aquasocieties which help farmers access credit, quality seeds, feeds and other inputs, reducing the burden of diseases and improving product quality. 

In this light, the government is organizing the India International Seafood Show (IISS) in Vishakhapatnam from September 23-25, which is focussed on "Safe and Sustainable Indian Aquaculture" to highlight the technological advances and sustainable practices followed in capture & culture fisheries in India to ensure quality of seafood produced for both domestic and export market. 

The event will see participation from countries including the US, United Kingdom, Spain, Belgium, Finland, Sweden, Japan, Vietnam, The Netherlands, Thailand, Vietnam, Taiwan, Germany and China.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.