Indian Marine Products exports set to exceed all-time high numbers of FY2017-18 despite pandemic

Business

Marine Products exports have registered a commendable growth of 35% between April to December last year (Provisional) in comparison to the year 2020. While the exports of Marine products witnessed the growth of 12% and 38% in comparison to April-December 2019 and April-December 2014 respectively.

Notably the exports of Marine Products reached USD 720.51 Million in December 2021 and overall exports in the last financial years in terms of Marine Products was USD 5.96 Billion. Among the items included in India’s Marine Products exports comprise Frozen shrimps, Frozen Fish, Frozen Squid and various other items besides Surimi products. The government has come up with several exports promotion schemes for the fisheries.

It was in May 2020 Prime Minister Narendra Modi introduced Pradhan Mantri Matsya Sampada Yojana (PMMSY) which included a wide range of 100 diverse activities with Rs. 20,050 crore budget. By far it’s the the largest investment towards bringing about the Blue Revolution that too through responsible and sustainable fisheries development in India.

 

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