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India’s Rise as the World’s Fourth-Largest Marine Products Exporter: A Decade of Progress and Future Imperatives


India’s Rise as the World’s Fourth-Largest Marine Products Exporter: A Decade of Progress and Future Imperatives
India’s Rise as the World’s Fourth-Largest Marine Products Exporter: A Decade of Progress and Future Imperatives

India’s marine products industry has reached a pivotal milestone, securing its position as the fourth-largest global exporter of marine products in FY 2024–25. This achievement reflects sustained efforts in aquaculture modernisation, infrastructure investment, and regulatory compliance, positioning India as a formidable force in the global seafood market.


Decade-Long Export Growth: Volumes, Value & Markets

India’s seafood exports have charted a robust trajectory over the past decade:

Year

Export Volume (Lakh Metric Tons)

Export Value ($ Billion)

2014–15

10.51

5.4

2023–24

17.81

7.38

2024–25

16.85

7.20

Sources: MPEDA Annual Reports

  • Volume Growth: 69.5% increase in 10 years

  • Value Growth: 36.7% increase

  • Recent Dip: FY 2024–25 saw a 5.4% drop in volume and 2.4% in value, attributed to a slowdown in U.S. and EU demand


Key Growth Enablers

  • Aquaculture Innovation: Scientific shrimp farming raised yield by 40%

  • Cold Chain Modernization: Spoilage dropped from 25% to 8% with 27,823 cold storage installations

  • Global Certifications: BAP, EU, and FDA compliance expanded market access to 130+ countries


Product Focus: Shrimp Leads, Diversification Emerges

  • Frozen Shrimp: Dominates exports with 67% share ($5.48B); top destinations include the U.S. and China

  • Black Tiger Shrimp: Volume up by 24.91% (2023–24)

  • Frozen Fish: 21.42% of volume, gaining traction in Africa & the Middle East


Global Competitiveness & Rankings

According to the International Trade Center (2024):

Rank

Country

Export Value ($ Bn)

Major Products

1

Norway

16.68

Salmon, cod

2

China

10.40

Tilapia, processed seafood

3

Vietnam

9.20

Shrimp, catfish

4

India

7.38

Frozen shrimp, scampi

5

Ecuador

6.90

Shrimp

Sources:  International Trade Center

Ecuador’s cost advantage (30% lower production costs) has captured 35% of U.S. shrimp imports, nudging India toward higher-margin, value-added processing.


Key Challenges

  • Tariff Pressures: U.S. imposes 27% duty on Indian shrimp vs. 10% on Ecuador

  • Processing Gap: Only 30% of India’s shrimp is value-added, compared to 90% in Thailand

  • Environmental Risks: 72% of fish production depends on fragile coastal ecosystems


Strategic Roadmap Ahead

Government Support

  • PM Matsya Sampada Yojana (PMMSY): ₹20,050 Cr investment to modernize deep-sea infrastructure

  • AI & Blockchain: Digital traceability tools for global export compliance

Export Expansion Goals

India targets $12 billion in marine exports by 2026, through:

  • 45 new value-added processing units

  • Penetration into newer markets: ASEAN, Africa, Middle East, Suriname, Chad

  • ASC certification for 50% of shrimp farms



Technology: A Key Enabler in Export Compliance

As India expands globally, trade compliance and documentation complexity becomes a critical bottleneck. AI-powered platforms like LiquidMind’s TradeVeda can:

  • Automate export documentation across EU, US, GCC requirements

  • Validate HS codes, BoLs, and invoices in real-time

  • Flag dual-use or high-risk product shipments

  • Enable faster, error-free clearances improving turnaround time by 60–70%


Conclusion

India’s seafood export sector is on a transformative path. While its global ranking highlights a decade of progress, addressing infrastructure and compliance challenges will be key to sustaining growth. With the right mix of government support, digital innovation, and market strategy, India is poised to lead the next chapter of global marine exports.


 
 
 

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