India’s Seafood Exports Soar: USA and China Among Top Buyers
India has seen a significant increase in seafood exports, growing by 30.81% from 2019-20 to 2023-24. This success is largely due to the government’s efforts, positioning India as a key player in the global seafood market.
Growth in Production and Exports
Over the past five years, India’s marine product production and exports have steadily increased. Production rose from 141.64 lakh tonnes in 2019-20 to a projected 182.70 lakh tonnes in 2023-24. Exports also grew, despite a dip in 2020-21 due to the COVID-19 pandemic.
| Year | Production (lakh tonnes) | Exports (lakh tonnes) |
|---|---|---|
| 2019-20 | 141.64 | 13.29 |
| 2020-21 | 147.25 | 12.89 |
| 2021-22 | 162.48 | 13.98 |
| 2022-23 | 175.45 | 17.54 |
| 2023-24 (Projected) | 182.70 | 18.19 |
Export Values
The export value of India’s seafood has also shown a significant upward trend. From Rs. 46,662.85 crore in 2019-20, it is projected to reach Rs. 61,043.68 crore in 2023-24.
Top Importers
The USA and China are major importers of Indian seafood. In 2023-24, the USA imported 3,29,192 MT, valued at USD 2,549.15 million, while China imported 4,51,363 MT, worth USD 1,384.89 million.
Government Initiatives
The Indian government has implemented several initiatives to bolster the seafood export sector. The Marine Products Export Development Authority (MPEDA) provides crucial support, including upgrading processing facilities and establishing quality testing laboratories. The government has also reduced import duties on essential ingredients used in seafood feed and enhanced the Remission of Duties and Taxes on Export Products (RoDTEP) scheme.
Pradhan Mantri Matsya Sampada Yojana (PMMSY)
This scheme aims to modernize the fisheries sector by developing cold chain infrastructure, reducing post-harvest losses, and improving overall productivity. These efforts have significantly enhanced India’s position in the global seafood market.
Doubts Revealed
Seafood Exports -: Seafood exports are when a country sends fish and other sea animals to other countries to sell.
USA -: USA stands for the United States of America, a country in North America.
China -: China is a large country in Asia, known for its big population and strong economy.
Lakh tonnes -: A lakh is a unit in the Indian numbering system equal to 100,000. So, lakh tonnes means 100,000 tonnes.
MT -: MT stands for Metric Tonnes, a unit of weight equal to 1,000 kilograms.
MPEDA -: MPEDA stands for Marine Products Export Development Authority, an Indian government agency that helps promote seafood exports.
Duty reductions -: Duty reductions mean lowering the taxes that need to be paid when goods are exported or imported.
Pradhan Mantri Matsya Sampada Yojana -: This is an Indian government scheme aimed at improving the fisheries sector by providing financial help and modern technology.
