India's marine products exports rise 35% in April-December 2021
India exported marine products worth $6.1 billion in the last nine months of the financial year 2021-22
India's exports of marine products grew 35% to 6.1 billion U.S. dollars during April-December of 2021 as compared to USD 4.5 Billion during same period in the year 2020, the Ministry of Commerce & Industry said on Sunday.
The official figures released were provisional, said the ministry, adding that the exports are all set to exceed the all-time high of 7.02 billion dollars achieved in the financial year 2017-18, despite the impact of the COVID-19 pandemic.
During December 2021, exports of marine products hit 720.51 million dollars, registering a growth of 28.01%, said an official statement.
The top destinations of India's marine exports were the United States (44.5%), China (15.3%), Japan (6.2%), Vietnam (4%) & Thailand (3%).
Frozen shrimps constitute the major share in India’s Marine Products exports items with 74% share in value terms (USD); Frozen Fish (7%), Others (6%) and Frozen Squid (5%) constitute the other major items in the Marine Products exports basket in FY2020-21. 'Others' category included primarily Surimi and Surimi analogue (imitation) products.
The Marine Products Export Development Authority, a statutory body of the Ministry of Commerce and Industry responsible for the promotion of export of marine products from India, has implemented several exports promotion schemes for fisheries.
The Pradhan Mantri Matsya Sampada Yojana (PMMSY), launched in May 2020 by Prime Minister Narendra Modi, has set a target of Rs 1 lakh crore fisheries export, additional 70 lakh tonnes fish production, and generation of 55 lakh employment in years to come. With a budget of Rs. 20,050 crore, PMMSY is by far the largest investment to bring about Blue Revolution through sustainable and responsible development of fisheries sector in India.