Seafood exports to surge to $14 bn by 2025: Govt

KOLKATA: India is aiming to double its seafood exports to $14billionby2025fromtheFY22level, Union minister of state for commerce and industry Anupriya Patel said in Kolkata.

The Country exported 1.36 million tonne (MT) of seafoods during 202122, earning an all-time record of $7.76 billion. “In two years from now, we plan to achieve a target of $14 billion,” she said after inaugurating the 23rd edition of India International Seafood Show(IISS).

NotingthatIndiaisalreadyamong the world’s top five seafood-exporting countries,theMinistersaid17%ofthe country’s agricultural exports comprises fish and allied products. “We are the world’s third-largest fish producer,second-largestaquaculture producer and fourth-largest seafood exporter,” she pointed out at the start of the three-day event being organised by the Marine Products Export Development Authority (MPEDA) in association with the Seafood Exporters Association ofIndia(SEAI).

Noting duty concessions on the import of vital shrimp/fish feed ingredients announced in the Union Budget 2023-24, Patel said the government’s measures towards protection of the interest of the country’s aqua farmers and the sector as a whole. “We slashed the import duty from 15% to 5% for fish meal/krillmealandvitaminpremixes, whereas the duty has been halved to 15% for fish lipid oil and algal prime,” shesaid.

China lifts suspension on Indian Seafood imports

BEIJING: China has lifted the suspension of shipments from 99 Indian seafood processing and exporting units following India’s assurances over source control, a move which would boost marine products exports to the neighbouring country, an MPEDA official said recently.

China had suspended a total of 110 units since December 2020 over Covid concerns, but the sustained efforts by theseafoodexportdevelopmentbody— Marine Products Export Development Authority (MPEDA), were crucial to India’seventualsuccessingettinglifted

China’s suspension order, according to top officials. Centre had projected to nearly double the seafood exports to USD14billionby2025.

“The lift on the suspension of the 99 seafood processing units was done on February 14 and is expected to raise India’s export of marine productsby5percentto10percentin the next financial year. The suspension of 11 units was revoked earlier, MPEDA Chairman D V Swamysaid.

Non-conformity with the trade norm requirements of China upon virtual inspection had led to the non- acceptance of seafood cargo from the concernedunits.

“Efforts by MPEDA, along with the Export Inspection Council, Embassy of India at Beijing, and the Department of Commerce, yielded fruition,asalltheunitshavecomplied with the requirements of (GACC),” Swamysaid.

India had 475 establishments that exportedseafoodduring2021-22.

The country’s seafood export to China was worth USD 1.17 billion in 2021-22, clocking a 25 per cent rise from the previous financial year, MPEDAofficialssaid.