Indian Economy 

India population is estimated
at 1.35 billion based on the
most recent UN data

India population is estimated
at 1.35 billion based on the
most recent UN data

Agriculture and allied sectors like
forestry, logging and fishing accounted
for 17% of the GDP and employed
49% of its total workforce in 2014. 

 

Indian Seafood Industry 

Overview

Fisheries in India is a very important economic activity and a flourishing sector with varied resources and potentials. India is also an important country that produces fish through aquaculture in the world. India is home to more than 10 percent of the global fish diversity. Presently, the country ranks second in the world in total fish production with an annual fish production of about 9.06 million metric tonnes.

 

Aquaculture

Indian Aquaculture is highly promising and has grown over six and half fold in the last two decades with freshwater aquaculture contributing over 95% of the total aquaculture production. India’s aquaculture production can be classified into freshwater and brackish water production. The development support provided by the Indian Government through a network of 429 Fish Farmers Development Agencies (FFDA) and 39 Brackish water Fish Farmers Development Agencies (BFDAs) have been the principal vehicles for the development and growth of freshwater and coastal aquaculture. The three Indian major carps, namely catla (Catla catla), rohu (Labeo rohita) and mrigal (Cirrhinus mrigala) contribute as much as 87% of total fresh water aquaculture production. Shrimps, Black Tiger and Vannamei, remain to be the most favorite among the developed countries and earned 3.08 billion US$ to India’s economy. Though India has huge Aquaculture resources, only 14% of the potential water resources are utilized, implying huge potential for the growth of this sector.

 


Indian Exports

Riding on a robust demand for its frozen shrimp and frozen fish in international markets, India exported 11,34,948 MT of seafood worth an all-time high of US$ 5.78 billion (Rs.37, 870.90 crore) in 2016-17 as against 9,45,892 tons and 4.69 billion dollars a year earlier, with USA and South-East Asia continuing to be the major importers while the demand from the European Union (EU) grew substantially during the period. India envisage an ambitious target of US$ 10 Billion for the year 2020. Frozen shrimp maintained its position as the top item of export, accounting for 38.28 per cent in quantity and 64.50 per cent of the total earnings in dollar terms. Shrimp exports increased by 16.21 percent in terms of quantity and 20.33 per cent in dollar terms. Frozen Fish was the second largest export item, accounting for a share of 26.15 per cent in quantity and 11.64 per cent in dollar earnings,registering a growth of 26.92 per cent in terms of value.

 


Processing Infrastructure

With the growing demand for Indian seafood products across the world, India has an installed processing
capacity of 23,000 M.T with 506 state-of- the-art processing plants, out of which over 62% of them are EU
approved plants. Almost every plant has put in place HACCP and other Quality control system on par
with the best in the world to ensure highest quality output.

 


Major Export Countries

106 countries in the world taste Indian seafood, South east Asia, EU, USA, Japan, China and Middle East being the major markets. India is the second largest aquaculture producer in the world, largest exporter of shrimp to USA, the 2nd largest exporter of shrimps to Europe and the 4th largest exporter of shrimps to Japan.The overall export of shrimp during 2016-17 was pegged at 4, 34,484 MT worth USD 3,726.36 million. USA was the largest import market for frozen shrimp (1, 65,827 MT), followed by the EU (77,178 MT), South East Asia (1, 05,763 MT), Japan (31,284 MT), Middle East (19,554 MT), China (7818 MT) and other countries (27,063 MT).