India Rises to Seafood Stardom: A Global Export Powerhouse

*India exports seafood both in terms of volume and value (both US$ and Rupee) by shipping 17,35,286 MT of seafood worth Rs. 63,969.14 crore (US$ 8.09 billion) during FY 2022-23.*

New Delhi, July 9, 2024 — In a landmark achievement for the Indian seafood industry, India has emerged as a formidable player in the global seafood export market. For the fiscal year 2023-24, India’s seafood exports reached an all-time high of nearly 18 lakh tonnes, valued at Rs 60,534 crore. This milestone underscores India’s growing prominence in the international seafood market, driven by robust aquaculture practices and strategic export initiatives.

Visakhapatnam Port Leads the Way

Visakhapatnam Port has been instrumental in this success. The port handled an impressive 3.14 lakh tonnes of seafood shipments, valued at Rs 17,984 crore, positioning it as the top seafood exporting gateway in India. “This achievement positions Visakhapatnam Port at the forefront of the nation’s seafood export sector,” said T Venu Gopal, Secretary of the Visakhapatnam Port Authority.

Top Export Hubs and Commodities

The Mumbai-based Jawaharlal Nehru Port Authority (JNPA) followed, managing over 2.4 lakh tonnes of seafood exports valued at Rs 6,396 crore. Cochin Port secured the third position, handling more than 1.81 lakh tonnes worth Rs 6,120 crore.

Frozen shrimp remains the most exported commodity, significantly contributing to the total export value. The United States and China have emerged as the leading importers of Indian seafood, with significant exports also going to Japan, Vietnam, and the European Union

Challenges and Triumphs

Despite global challenges in demand and regulatory standards, India successfully exported seafood to 132 countries. The country’s ability to maintain high export volumes amidst these challenges is a testament to its strong aquaculture base and quality assurance practices. Leading exporters like Gold Marine Exports Pvt. Ltd. have played a critical role in this success, ensuring consistent quality and supply

Future Prospects

Looking forward, the Indian seafood industry is poised for further expansion. Investments in modern infrastructure, continued growth in aquaculture, and adherence to international quality standards are expected to propel India’s seafood exports to new heights. The efficiency and capacity of key ports like Visakhapatnam will remain crucial in supporting this growth and maintaining India’s competitive edge in the global market. As the sector continues to evolve, India’s strategic initiatives and robust export mechanisms will ensure its position as a leading player in the global seafood industry, driving economic growth and providing livelihoods for millions involved in the seafood supply chain.