India's Seafood Exports Surge to Rs 60,524 Crore; Aiming for Rs 1.56 Lakh Crore by 2030
Click to start listening
Synopsis
India's seafood exports have significantly increased over the last decade, now targeting $18 billion by 2030. This growth is supported by the PMMSY scheme, which addresses key challenges in production and marketing, aiming to enhance the sector's infrastructure and competitiveness.
Key Takeaways
- India's seafood exports rose to Rs 60,524 crore.
- Target export turnover of Rs 1.57 lakh crore by 2030.
- PMMSY scheme invested Rs 20,050 crore for development.
- 27,189 fish transportation units established.
- Digital platforms for fish trading initiated.
New Delhi, Feb 4 (NationPress) India's seafood exports have more than doubled in the last decade, rising from Rs 30,213 crore in 2013-14 to Rs 60,523.89 crore during the fiscal year 2023-24. The government is setting its sights on an ambitious export target of $18 billion (approximately Rs 1.57 lakh crore) by 2030, as stated by the Department of Fisheries on Tuesday.
This objective is part of the Vision Document-2030 for India's seafood sector, developed by the Marine Products Export Development Authority (MPEDA), which operates under the Ministry of Commerce and Industry. MPEDA is instrumental in managing the country's seafood export activities.
The Department of Fisheries is rolling out the flagship PMMSY scheme with an investment of Rs 20,050 crore over five years, from FY 2020-21 to FY 2024-25, aiming to boost exports.
This scheme aims to elevate marine exports to Rs 1 lakh crore by 2024-25.
PMMSY addresses vital issues in fish production, quality, technology, post-harvest management, modernization, and marketing infrastructure, which are crucial for reducing post-harvest losses, as highlighted in the statement.
As part of enhancing marketing infrastructure, PMMSY has facilitated the establishment of 27,189 fish transportation units (including refrigerated and insulated vehicles), 21 advanced wholesale fish markets, 202 retail fish markets, 6,694 fish kiosks, and 5 e-platforms for online trading of fish and fisheries products, with a total investment of Rs 1,654.51 crore across the country.
To help fishers and farmers access real-time price data for better negotiation, the Department, through the National Fisheries Development Board (NFDB), has initiated the 'Fish Market Price Information System' (FMPIS), which gathers and shares fish market prices from 111 wholesale and retail markets across 29 states/UTs.
Additionally, the Department of Fisheries has signed a Memorandum of Understanding (MoU) with the Open Network for Digital Commerce (ONDC) to provide a digital marketplace for traditional fishermen, fish farmers, and entrepreneurs to buy and sell products.
Moreover, PMMSY has backed 2,195 fisheries cooperatives as Fish Farmers Producer Organizations (FFPOs) with a budget of Rs 544.85 crore through various implementing agencies, as mentioned in the statement.
To boost India's export competitiveness and increase profitability, PMMSY supports a range of initiatives along the fisheries value chain. These include quality fish production, expansion and diversification of brackish water aquaculture, promotion of export-oriented species, technology infusion, disease management, traceability, modern post-harvest infrastructure, and development of fishing harbors and landing centers, as per the statement.
