Seafood exports are likely to touch $4.7 billion by 2013-14 due to growing demand in markets like Southeast Asia and European Union, Assocham said today.
The shipments during 2010-11 were $2.8 billion, it said.
"Seafood exports may increase provided key thrust areas like value-addition, aqua farming, technology upgradation get a boost.
"They have the potential to accelerate faster in view of growing demand from the European Union, the United States, China, Southeast Asia and Japan," the chamber said.
Marine exports from India recorded an all-time high of 8.07 lakh tonnes in 2010-11, marking an increase of 18.96 per cent in quantity terms, over the previous year, it said.
High productivity of black tiger shrimp and increased landing of squid contributed to the growth, it added.
"The strength of current fleet of fish catching vessels here is less than 70,000. Capacity of each is less than two tonnes which needs to be expanded to nine tonnes for raising fish acreage with latest remote sensing equipment," it said.
In 2010-11, the largest exports from the sector went to to Southeast Asia, European Union, followed by China.
