India's seafood exports rose 15 per cent on-year to USD 1.99 billion in the first quarter of 2022, a senior official said on Friday. Total exports were 7.76 billion in the year 2021 -- 22, a jump of 30 per cent over FY21, said MPEDA Chairman K N Raghavan, chairman of the Marine Products Export Development Authority.
He was there to participate in a roadshow for the India International Seafood Show 2023 to be held in Kolkata on February 15 -- 17, 2023 after a gap of 16 years.
The official said seafood shipments to Europe are expected to increase in the years to come, with the easing of certain curbs imposed by the European Union.
Europe is responsible for about 15 per cent of the total exports in this segment.
Raghavan said that the embargo on registering new units will be lifted after an EU audit is scheduled to take place soon.
India is facing embargoes related to residue antibiotic traces in shrimp export consignments, which has resulted in a restriction on shipments of marine products to the European market.
The Indian government has taken several measures to deal with the problem through direct intervention and dialogues, according to Seafood Exporters Association of India President Jagdeesh Fofandi, who was also present at the event.
He said that the government is aiming to double marine exports by 2025.
Frozen shrimp was India's largest export item in terms of quantity and value in 2021 -- 22, accounting for 53 per cent of the total revenue and 75 per cent of the total revenue, according to government data.
The US is the largest market with a 43 per cent share, followed by China and Europe 15 per cent and Japan 9 per cent each.