India's seafood exports surge despite global uncertainties

New Delhi, May 18 (IANS) India's seafood exports have recorded a robust growth of 17.81 per cent in April this year to $0.58 billion as the country continues to play a key role of the fourth largest producer of marine products in the international market, according to figures compiled by the Commerce and Industry Ministry.

The country exported 16.85 lakh metric tonnes of marine products in the financial year ended March 31, 2025, which represents an over 60 per cent jump. In value terms, the exports grew to $7.2 billion from $5.4 billion in FY15.

The momentum is continuing into 2025-26, despite fears over tariff hikes announced by the US, which is the largest market for Indian exports. Meanwhile, India and the US are close to concluding a bilateral trade aimed at increasing the flow of exports and imports between the two countries.

India now exports seafood to 130 countries, up from 105 in 2014-15, reflecting the expanding reach of the country's marine products. Frozen shrimp is the largest exported marine product, contributing over 40 per cent of the total quantity and 66.12 per cent of the total export value, with the US and China as the largest markets.

India's export competitiveness and higher price realisation are fuelled by the Centre's Pradhan Mantri Matsya Sampada Yojana (PMMSY) scheme, which supports a basket of interventions along the fisheries value chain, including quality fish production, expansion, diversification and intensification of brackish water aquaculture, promotion of export-oriented species.

Infusion of technology, robust disease management and traceability, training and capacity building, creation of modern post-harvest infrastructure with seamless cold chain, development of modern fishing harbours and fish landing centres also form part of the scheme that has given a big boost to seafood production and exports in the country, a senior official said.

The Centre is now aiming to achieve an export turnover of $18 billion (Rs 1.57 lakh crore) by 2030. The target has been set in the Vision Document -2030 for India's seafood exports that has been formulated by the Marine Products Export Development Authority (MPEDA), which functions under the Ministry of Commerce and Industry, the statement said.

MPEDA plays a key role in overseeing the seafood export from the country.

The Department of Fisheries is implementing the flagship PMMSY scheme with an investment of Rs 20,050 crore in the fisheries sector for five years with effect from the FY 2020-21 to FY 2024-25 across all States and UTs, which has led to a jump in exports.

--IANS

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