India’s marine product export target by 2025
The Union Minister Smt Anupriya Patel recently inaugurated the India International Seafood Show. While speaking at the show, the minister said that India has set a seafood target of 14 billion USD. And the plan is to achieve the target by 2025. In 2021-22, the seafood exports of the country were 7.76 billion USD. This was 17% of the total agricultural goods exports.
Background
India is launching several measures to increase production in the seafood sector, especially in the fisheries sector. Recently, the CMFRI identified sites for sea cage farming. Fish production in sea cage farming is higher than in conventional fishing methods. More than 146 spots were identified and with this, the overall fish production will increase by 3.2 million tonnes.
Also, the MPEDA is to organize a conference on seafood production during G20 meet. The conference will focus on harmonizing the regulations on seafood.
Concerns
India is now exporting safe seafood to more than 100 countries. Also, India is exporting fish under FTAs signed with different countries. However, the European markets are recently complaining about the use of antibiotics on shrimps. This affected India’s fish trade with the European markets. Major competitors of India in fisheries are China and US.
Related Posts
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs - 2024