According to a statement from the commerce ministry on Wednesday, India witnessed a notable increase in its seafood exports in the fiscal year 2022-23. The exports of frozen shrimp played a significant role in this growth, contributing to a 4.31 percent rise, reaching a total value of USD 8.09 billion.
In terms of volume, exports reached 1,735,286 tonnes in the previous fiscal year, compared to 1,369,264 tonnes in 2021-22.
“Frozen shrimp remained the major export item in terms of both quantity and value while USA and China turned out to be the major importers of India’s seafood,” it said.
In the fiscal year 2022-23, frozen shrimp exports experienced a growth, reaching a value of USD 5.48 billion. This sector constitutes approximately 41 percent of India’s total seafood exports in terms of volume.
According to the ministry, the largest market for frozen shrimp is the United States, with China, the European Union, South East Asia, Japan, and the Middle East following closely behind.
Other segments that witnessed robust growth in exports include black tiger shrimp, frozen fish, frozen octopus, canned products, and frozen lobster.
The ministry further stated that in terms of value, the United States remained the primary importer of Indian seafood, with imports valued at USD 263 billion in the previous fiscal year.
“Exports to the US declined by 21.94 per cent in USD terms due to sluggish demand,” it said.
China emerged as the second-largest destination for seafood exports.
