{"id":32694,"date":"2024-11-25T17:01:43","date_gmt":"2024-11-25T11:31:43","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=32694"},"modified":"2024-11-25T17:01:45","modified_gmt":"2024-11-25T11:31:45","slug":"indian-seafood-exports","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/25-11-2024\/indian-seafood-exports","title":{"rendered":"Indian Seafood Exports"},"content":{"rendered":"\n<p><strong>Syllabus: GS3\/ Economy<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Embassy of India in Brussels hosted the second edition of the <strong>Indian Seafood and Wine Tasting Event<\/strong> showcasing India\u2019s finest culinary offerings.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Seafood Industry of India<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India is the <strong>third-largest<\/strong> fish and aquaculture-producing country and the industry employs more than <strong>28 million<\/strong> people in India.\n<ul class=\"wp-block-list\">\n<li>It accounts for <strong>7.96%<\/strong> of the total global fish production.\u00a0<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>India\u2019s seafood exports<\/strong> have increased from Rs. 46,662.85 Crore in 2019-20 to Rs. 61043.68 Crore in 2023-24 registering a growth of <strong>30.81%.<\/strong><\/li>\n\n\n\n<li><strong>India mainly exports <\/strong>frozen shrimps, fish, cuttlefish, squids, dried items, and live and chilled items.\n<ul class=\"wp-block-list\">\n<li>The <strong>frozen shrimp is the largest exported marine product <\/strong>contributing to more than<strong> 40% <\/strong>of the total quantity and about <strong>67.22%<\/strong> of the total export value.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Major Export Markets<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>USA, China, and the European Union (EU)<\/strong> are the largest importers of Indian seafood.<\/li>\n\n\n\n<li>With 500 EU-approved firms, the EU has become India\u2019s second-largest seafood market, with annual purchases of <strong>USD 0.95 billion.\u00a0<\/strong><\/li>\n\n\n\n<li>Emerging markets like Japan, Vietnam, and the Middle East are gaining traction.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Government initiatives<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Marine Products Export Development Authority (MPEDA):<\/strong> It facilitates technology upgradation, market development, and quality certification.<\/li>\n\n\n\n<li><strong>RoDTEP: <\/strong>The Government has also increased the Remission of Duties and Taxes on Export Products<strong> <\/strong>(RoDTEP)<strong> <\/strong>from <strong>2.5% to 3.1%<\/strong> for various seafood products.<\/li>\n\n\n\n<li><strong>Pradhan Mantri Matsya Sampada Yojana (PMMSY): <\/strong>It was implemented<strong> <\/strong>to bring the Blue Revolution through sustainable and responsible development of the fisheries sector in India from <strong>FY 2020-21 to FY 2024-25.<\/strong><\/li>\n\n\n\n<li><strong>The reduction in import duties<\/strong> on various ingredients \/inputs for manufacture of prawn and shrimp feed\/fish feed announced in <strong>Budget 2024-25, <\/strong>will make Indian seafood-based value-added products more competitive in international markets.<\/li>\n\n\n\n<li><strong>Fisheries and Aquaculture Infrastructure Development Fund (FIDF):<\/strong> it was implemented to create a fund to address the infrastructure requirement for the fisheries sector.<\/li>\n\n\n\n<li><strong>Kisan Credit Card (KCC) <\/strong>scheme was extended in the <strong>2018-19 <\/strong>to fisheries and animal husbandry farmers to help them meet their working capital requirements.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Challenges faced by India<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Stringent Regulatory Norms:<\/strong> Major markets, including the EU and USA, impose rigorous quality checks, leading to frequent rejections.<\/li>\n\n\n\n<li><strong>Technology Adoption:<\/strong> Limited access to modern technology and practices for sustainable aquaculture.<\/li>\n\n\n\n<li><strong>Climate Change: <\/strong>Rising sea temperatures, ocean acidification, and changing weather patterns affecting fish habitats and breeding.<\/li>\n\n\n\n<li><strong>Pollution: <\/strong>Water pollution from industrial, agricultural, and plastic waste harms aquatic life and ecosystems.<\/li>\n\n\n\n<li><strong>Infrastructure:<\/strong> Inadequate cold storage, processing facilities, and transportation affecting fish quality and market access.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Way Ahead<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Market Diversification: <\/strong>Expanding exports to Africa, South America, and ASEAN countries to reduce dependency on traditional markets.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>R&amp;D and Innovation: <\/strong>Encouraging research in species diversification, disease management, and climate-resilient aquaculture practices.<\/li>\n\n\n\n<li><strong>Sustainability: <\/strong>Promoting eco-friendly fishing and aquaculture practices to ensure long-term viability of resources.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Concluding remarks<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Indian seafood exports hold immense potential for driving economic growth, and promoting sustainable development.\u00a0<\/li>\n\n\n\n<li>Strategic interventions in quality enhancement, market diversification, and infrastructure modernization can position India as a global leader in seafood exports.<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=2076228\" target=\"_blank\" rel=\"noopener\"><strong>PIB<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Embassy of India in Brussels hosted the second edition of the Indian Seafood and Wine Tasting Event showcasing India\u2019s finest culinary offerings.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-32694","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/32694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=32694"}],"version-history":[{"count":1,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/32694\/revisions"}],"predecessor-version":[{"id":32695,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/32694\/revisions\/32695"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=32694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=32694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=32694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}