Daijiworld Media Network – Mangaluru
Mangaluru, Jun 19: India has recorded marine exports totalling Rs 60,523 crore in the fiscal year 2023-24, marking a significant achievement in the seafood industry. This data has been officially documented and showcases the robust growth in seafood exports.
Recent statistics reveal a notable increase in the export of chilled seafood and major fish varieties. The United States and China continue to be prominent destinations for Indian marine exports.
During the financial year 2023-24, India saw a growth rate of 2.67% in marine exports compared to Rs 63,969 crore worth of exports comprising 17.35 lac tonnes during 2022-23, as reported by Dr V Swamy, Chairman of the Marine Exports Development Authority.
India's foreign exchange earnings stood at Rs 40,013 crore through seafood exports, maintaining a leading position in the global seafood trade. The export volume increased by 40.19% in quantity terms and 66.12% in dollar value during the year 2023-24, showing a substantial improvement over the previous fiscal year.
Despite challenges, including a marginal decline of 0.69% in quantity terms, the overall seafood exports amounted to 7.16 lac tonnes. Tiger prawn exports saw a significant rise, contributing Rs 2,855 crore from 38,987 tonnes exported. Meanwhile, white-legged shrimp exports recorded a growth of 0.33% in quantity but suffered a depreciation of 11.56% in export value.
The export of chilled seafood fetched Rs 5,509 crore in foreign exchange earnings, while processed fish and feed exports generated revenue of Rs 3,684.79 crore.
Exports of dried fish accounted for Rs 3,061 crore in foreign exchange, with an additional 4.12% growth observed in the exports of surimi and surimi-based products, yielding Rs 2,252 crore from crab exports and significant increases in the exports of cuttlefish, octopus, fish meal, and live fish.
This record-setting performance underscores India's growing stature in the global seafood market, supported by enhanced product quality and expanded market access strategies.