How are India's Seafood Exports Thriving Amid Global Challenges?

New Delhi, May 18 (NationPress) India's seafood exports have experienced a remarkable growth of 17.81% in April this year, reaching $0.58 billion, as the nation solidifies its position as the fourth largest producer of marine products globally, according to data from the Commerce and Industry Ministry.

In the financial year ending March 31, 2025, India exported 16.85 lakh metric tonnes of marine products, marking an impressive increase of over 60%. In monetary terms, the exports surged to $7.2 billion, up from $5.4 billion in FY15.

This positive trend is continuing into 2025-26, despite concerns regarding tariff increases announced by the United States, the primary market for Indian exports. Concurrently, India and the US are nearing the conclusion of a bilateral trade agreement aimed at enhancing the exchange of exports and imports between the nations.

India now exports seafood to 130 countries, a notable increase from 105 in 2014-15, signifying the growing reach of its marine products. Frozen shrimp stands out as the most exported marine product, accounting for over 40% of the total quantity and 66.12% of the total export value, with the US and China being the largest markets.

The country's export prowess and improved pricing are bolstered by the Pradhan Mantri Matsya Sampada Yojana (PMMSY), which promotes various interventions along the fisheries value chain, including quality fish production, expansion, diversification, and intensification of brackish water aquaculture, and the promotion of export-oriented species.

Incorporation of technology, effective disease management, traceability, training, and the establishment of modern post-harvest infrastructure, including a seamless cold chain, along with the development of modern fishing harbours and fish landing centres, are integral to the scheme that has significantly enhanced seafood production and exports in India, stated a senior official.

The government is now aiming for an export turnover of $18 billion (Rs 1.57 lakh crore) by 2030. This target is outlined in the Vision Document -2030 for India's seafood exports, prepared by the Marine Products Export Development Authority (MPEDA), operating under the Ministry of Commerce and Industry.

MPEDA plays a crucial role in managing the country's seafood exports.

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