July 20, 2021
The marine exports in India has seen a growth of 41 percent in March—mostly contributed by shrimp export—after 12 months of sharp decline. To some extent, the Centre’s PLI scheme for the food processing sector is responsible for the sharp growth.
The central government’s recently announced PLI scheme for the food processing sector, which includes value-added shrimps, is expected to give a push to shrimp exports. In fact, the government too has emphasized the development of this industry, Ergo India has been one of the biggest exporters of seafood in the world.
Seafood exports have gradually increased from $3.5 billion in FY12 to $6.8 billion in FY20.
Out of the total seafood exports, frozen shrimp contributes the most to the market. Its share was 73 percent of the total exports in FY20—a sharp increase from 50 percent levels in FY12.