To mark the occasion of India chairing the G20 meet, Marine Products Exports Development Authority (MPEDA) is planning a buyer-seller meet between Indian seafood exporters and importers of G20 countries.
The event will be held during the 23rd edition of India International Seafood Show to be held at Kolkata during February 15-17, 2023. Official sources told businessline that all the sectors in the entire value chain of seafood right from aquaculture, capture fisheries, processing, value addition etc. are participating along with special seminars on the regulations of leading markets among G20 nations.
The aim of the buyer-seller meeting is to enhance the cooperation with G20 countries in marine product exports, as the top ten buyers of Indian seafood are from G20 countries, contributing 73 per cent of total exports from the country, the sources said.
India fetched an export revenue of $7.76 billion last year and has achieved $4.86 billion up to October this year against the target of $8.86 billion.
Exploring LatAm
According to officials, there is great potential for Indian marine products to penetrate deep into Latin American countries, which is an emerging market. Argentina is a good market, but its exports from India are nil. Likewise, Mexico imports Indian seafood products worth $9 million, which has the potential to double the exports. The lower penetration into these markets is because of its long distance from India and there is a need to explore these markets to increase the customer base.
Jagdish Fofandi, national president of the Seafood Exporters Association of India, said, “Through this buyer-seller meet, we are trying to revitalise the seafood sector, which is passing through a very difficult phase on account of various factors that led to a subdued overseas demand across the markets. We are hopeful that the proposed business meet would bring in some business from countries where Indian marine products are not having any presence so far”.
Meanwhile, a mission from the United Kingdom will be visiting India from January 16 to 27 to assess the country’s seafood production and processing systems. The visit is part of Britain’s decision to exit from the European Union and to prepare its own norms for all future shipments. The team will be visiting seafood processing units in Kerala, Andhra Pradesh, Gujarat, EIA labs, aquaculture farms etc. It is expected that this mission would be helpful to enlist more seafood establishments and to reduce sampling frequency for aquaculture material, official sources said.
India, according to officials, has been doing well for the UK market with an export of around $100 million worth marine products till this year as against a target of $175 million, despite the market slowdown. The EU market has also witnessed a 30 per cent growth this year clocking $777 million till October.