India Achieves Record High Seafood Exports in FY 24

According to the Ministry of Commerce and Industry, India has achieved a record-breaking milestone in seafood exports during the financial year 2023-24.

Key Points

Seafood: The country exported a total of 17,81,602 metric tons (MT) of seafood, valued at Rs 60,523.89 crore (USD 7.38 billion), despite facing significant challenges in key export markets.
Frozen Shrimp: Frozen shrimp emerged as the leading export in terms of both quantity and value, with the USA and China being the primary importers of Indian seafood.
Export to USA: The USA remained the top importer of Indian seafood, with imports worth USD 2.549 billion, accounting for 34.53 percent of the total USD value. Frozen shrimp constituted 91.90 percent of the exports to the USA, with black tiger shrimp exports to the USA increasing by 35.37 percent in quantity and 32.35 percent in USD value.
Export to China: China was the second-largest export destination, importing 451,363 MT worth USD 1.384 billion, representing 25.33 percent in quantity and 18.76 percent in USD value. Exports to China grew by 12.80 percent in quantity but declined by 0.88 percent in value and 4.21 percent in USD value. The main items exported to China were frozen shrimp and frozen fish.
Export to Japan: Japan ranked third, with imports accounting for 6.06 percent in quantity and 5.42 percent in USD value. Frozen shrimp was the main export item to Japan, making up 33.26 percent in quantity and about 66 percent in both rupees and USD value.