India sets sights on $12 billion seafood exports in two years.

India is setting ambitious India is setting ambitious food exports, aiming to reach $12 billion within the next two years, up from the current $8 billion, according to government officials.

The focus will primarily be on high-end markets such as the United States and Europe, where India has already emerged as a significant supplier of seafood, particularly frozen shrimps.

The Commerce Ministry revealed that India has become the largest supplier of seafood, particularly frozen shrimps, to the United States, with exports doubling over eight years to reach $2.6 billion in the fiscal year 2022/23. Total frozen shrimp exports surged to $5.6 billion during the same period, as estimated by the Commerce Ministry.

Government officials emphasized the intention to prioritize value addition and supply to high-end markets, while also emphasizing good labour and environmental practices among exporters. They noted that shrimp farming presents a significant opportunity, providing employment to nearly 200,000 workers, primarily women in the Southern states like Andhra Pradesh. However, they cautioned that global demand for shrimp could remain subdued in the current fiscal year.