The export of marine products from India reached an all time high of USD 5 billion during the fiscal year 2013-14.
The increase in exports saw a sharp rise from the previous fiscal year's figure of USD 3.5 billion. Exports amounted to 983, 756 metric tonnes.
"I'm very happy to say that Indian seafood has crossed the $5 billion export mark. This year recorded a growth of 35 % from last year. Both fish and shrimp have seen highest exports," said Marine Production Export Development Authority (MPEDA) chairman, Leena.
The MPEDA, a statutory body under the Union Government, is a nodal agency for promotion of export of marine products from India. It is present in all the Maritime States and is responsible for development schemes, aquaculture production apart from export promotion.
"We have about 500 processing facilities in the country out of which 300 export to the European Union and around 170, to the rest of the world," said Nair.
The rise in maritime exports during 2013-14 has been attributed to increase in export of the L. Vannamei shrimp, commonly known as the Whiteleg shrimp.
This coupled with the stable economies of America and the European Union has helped India reach the USD 5 billon mark, said Nair.
In comparison with the previous year, seafood exports recorded a growth of around 6 percent in terms of quantity. The unit value realization also reached to record high from USD 3.78 per kilogram during 2012-13 to USD 5.09 per kilograms during 2013-14.
In terms of quantity, the US is the largest market for frozen shrimps, followed by European Union, South East Asia, and Japan, say reports.
MPEDA aims at exporting shipments worth USD 6 billion this fiscal year, said Nair.
