India achieved an all-time high exports of seafood both in terms of volume and value by shipping 17,35,286 MT of seafood worth Rs. 63,969.14 crore (US$ 8.09 billion) during FY 2022-23.
Key points
- During the FY 2022-23, the export improved in quantity terms by 26.73%, in rupee terms by 11.08%, in US$ terms by 4.31%.
- As for overseas markets, USA continued to be the major importer of Indian seafood in value terms.
- China emerged as the second largest seafood export destination from India in terms of Quantity.
- The European Union continued to be the third largest destination.
- Frozen shrimp remained the major export item in terms of both quantity and value while USA and China turned out to be the major importers of India’s seafood.
- Frozen shrimp retained its position as the most significant item in the basket of seafood exports, accounting for a share of 40.98% in quantity and 67.72% of the total US$ earnings.
- USA was the largest market of frozen shrimp, followed by China, European Union, South East Asia, Japan, and the Middle East.
