Owing to low catch and diminishing demand from developed nations, the seafood industry is in troubled waters.
Though the availability of fish has decreased over the past eight years, the depreciation of Indian rupee has helped exporters gain over 20 percent profit for the past five years.
However, sources in the industry said recession in Europe and United States have dampened its prospects.
The fish products show a diminishing trend and the number of fish items imported has increased, which reflects in the export figure. In 2012-13, the seafood exports will fall short of $3.5 billion achieved last year at least by six to eight per cent.
Click here to read the full story from New India Express >
