India prepares roadmap to double seafood exports
India wants to double its seafood exports, Indian Commerce Minister Suresh Prabhu said at a recent national-level seafood show, with Prabhu’s ministry leading the way in developing a plan over the next three months.
Speaking at the Marine Products Exports Development Authority (MPEDA) Awards for Export Excellence at the 21st India International Seafood Show last week in Goa, India, Prabhu said the state will invest in aquaculture ventures throughout the country and will play a bigger role in seafood marketing efforts and the integration of the country’s supply chains.
“There is huge opportunity in for marketing Indian seafood in the overseas market and I have told MPEDA and other authorities to come up with a plan on how we can double seafood exports in the next few years,” Prabhu said, according to India’s Agriculture Times.
Prabhu said his ministry will be arranging a meeting between seafood buyers, producers, and exporters to organize a system where all the representatives of the Indian seafood sector can jointly meet clients at one place, rather than working individually, the minister said.
Specifically, Prahbu said he has been encouraging companies in high-potential markets such as South Korea and Japan to explore joint-ventures with Indian partners for value-added marine products.
However, Prabhu said exporters must do more to boost their own products, adding that many must revisit their marketing strategies.
“Today, marketing is not just about selling; attention must given on the quality of the products, packaging, and increasing their shelf-life,” Prabhu said.
A total of 27 companies were presented performance awards for the years 2015-16 and 2016-17 by the Prabhu. The presentation was also attended by Goa’s minister for agriculture, Vijai Sardesai, and Vinoda Paliencar, Goa’s minister for fisheries and water resources,
During 2016-17, India exported 1.13 million metric tons of seafood, principally frozen shrimp and frozen fish, worth INR 378 billion (USD 5.9 billion, EUR 4.8 billion). Provisional export figures for April to November 2017 have shown an increase of 18.7 percent and 15.2 percent in quantity and value, respectively, of seafood exports.
The export earnings are expected to surpass USD 6 billion (EUR 5.1 billion) during the current fiscal year, buoyed by aquaculture growth, enhanced processing capacity, and favorable market conditions.