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India’s marine product export has registered a 35 per cent growth at $6.1 billion during April to December 2021 compared to $4.5 billion during the corresponding period in 2020.
As compared to April-December 2019 ($5.5 billion) and April-December 2014 ($4.4 billion), exports of marine products registered a growth of 12 per cent and 38 per cent, respectively.
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During December 2021, exports of marine products touched $720.51 million, registering a growth of 28 per cent over $562.85 million logged in December 2020.
The overall exports in the last financial year (March 2020-April 2021) was $5.96 billion, and with $6.11 billion scaled during the first three quarters of FY2021-22, the sector is very likely to exceed the all-time high of $7.02 billion exports achieved in the FY2017-18, despite the impact of the Covid-19 pandemic.
The US continued to be the top export destination with a share of 44 per cent, followed by China (15.3 per cent), Japan (6.2 per cent), Vietnam (4 per cent) and Thailand (3 per cent).
Major contributor – shrimps
Frozen shrimps constitute the major share in the shipments with 74 per cent share in value terms; frozen fish (7 per cent), others (6 per cent) and frozen squid (5 per cent) constitute the other major items in the exports basket in FY 2020-21.
Others category included primarily Surimi and Surimi analogue (imitation) products. The Marine Products Export Development Authority has implemented several exports promotion schemes for fisheries and for the promotion marine products exports.
Prime Minister Narendra Modi had launched the Pradhan Mantri Matsya Sampada Yojana (PMMSY) in May 2020 with an array of 100 diverse activities. With a budget of ₹20,050 crore, it is by far the largest investment to bring about ‘Blue Revolution’ through sustainable and responsible development of the fisheries sector.
PMMSY, being implemented over a period of five years from FY2020-21 to FY2024-25 in all the States and Union territories, has set a target of ₹1,00,000 crore fisheries export, additional 70 lakh tonnes fish production, and generation of 55 lakh employment in the years to come.
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