India's Booming Marine Exports

India’s seafood exports hit an all-time high during the fiscal year 2022-23, with a shipment of 17,35,286 metric tonnes MT) of seafood valued at Rs 63,969.14 crore 8.09 billion). Despite challenges in major export markets like the USA, India witnessed significant growth in both volume and value. Frozen shrimp remained the primary export item in terms of quantity and value, while by-products like surimi ranked as the third largest, generating Rs 2,013.66 crore. Fish and seafood exports from India have been steadily increasing in recent years. The market for seafood is expected to continue growing, leading to soaring exports in the coming years.

- Shraddha Warde

India’s seafood export showed remarkable growth in various aspects: 26.73 per cent in quantity, 11.08 per cent in rupee terms, and 4.31 per cent in US dollar terms compared to the previous year’s performance. In 2021-22, India exported 13,69,264 MT of seafood worth Rs 57,586.48 crore ($7,759.58 million).

Frozen Shrimp Tops Export Chart 

Frozen shrimp remained India’s major export item both in terms of quantity and value. The USA and China emerged as the top importers of India’s seafood. Frozen shrimp, which earned Rs 43,135.58 crore ($5481.63 million), retained its position as the most significant item in the basket of seafood exports, accounting for a share of 40.98 per cent in quantity and 67.72 per cent of the total US$ earnings. Shrimp exports saw a slight increase of 1.01 per cent in Rupee value during the period.

The overall export of frozen shrimps during 2022-23 reached 7,11,099 MT. Among the top importers, the USA ranked first with imports of 2,75,662 MT of frozen shrimp, followed by China (1,45,743 MT), the European Union (95,377 MT), South East Asia (65,466 MT), Japan (40,975 MT), and the Middle East (31,647 MT).

Second Largest Export 

Frozen Fish, ranked as the second largest exported item, fetching Rs. 5,503.18 crore ($687.05 million). It accounted for 21.24 per cent in quantity and 8.49 per cent in US$ earnings. This year, the export of frozen fish has seen substantial growth in quantity (62.65 per cent), Rupee value (58.51 per cent), and US$ value (45.73 per cent) terms.