Exports of marine products may reach United States dollars 10 bn by 2020: MPEDA

He also said, “Our export basket size is nearly 1/4th of China”. Frozen shrimp remained the major export marine product previous year, followed by frozen fish. “There are dried, live and chilled items as well”, he added.

India’s resurgent seafood industry got a major impetus with Union Commerce and Industry Minister Nirmala Sitharaman announcing a raft of measures, including setting up of agencies for aquaculture and fisheries in all coastal states and export incentives for marine products under Merchandise Exports from India Scheme (MEIS), at a high-profile worldwide seafood conference here today.

Worldwide and domestic exhibitors will showcase their products and services to a potential global market and explore leads and partnerships. Of the 290 stalls at the exhibition, more than 70 are from foreign companies.

Visakhapatnam, Sep 22 (PTI) Country aims to improve its export turnover from marine products to United States dollars 10 billion by the year 2020 through promoting safe and sustainable aquaculture, Chairman of Marine Products Export Development Authority (MPEDA) A Jayathilak said here today.

The MPEDA has set a target of marine product export target of $5.6 billion in 2016-17, an increase of almost 20 per cent.

“Our higher target for exports this year is in part due to increased production of globally in-demand seafood produce such as Whiteleg Shrimp and Black Tiger Shrimp, and diversification of aquaculture species particularly of Mangrove Crab and Tilapia”, he said. The nodal body for marine exports will work under the Union ministry of Commerce and Industry. She also announced export incentives for marine products under Merchandise Exports from India Scheme (MEIS).

Delivering the key-note address at the inaugural of the three-day 20th India International Seafood Show, Nirmala Sitharaman said that under the Merchandise Exports from India Scheme (MEIS), the Centre has made a decision to allocate an additional ‘1,500 crore from this fiscal year.

“I held discussions with trade ministers from Japan and South Korea recently and they have expressed interest in collaborating with India for the development of aquaculture”, she added. Under the MEIS, the government now allocates ‘22,000 crore annually for exports.

Andhra Pradesh Chief Minister, Shri N Chandrababu Naidu will deliver the Presidential address.

As the host state, Andhra Pradesh hopes to utilise the event to give a thrust to aquaculture and boost fisheries production by sharing of technological know-how.