Aquaculture shrimps can help India’s seafood exports reach $10 billion by 2020: SEAI

States should emulate Andhra Pradesh, which by its spectacular aquaculture shrimp production, has enabled India to overtake Thailand as the largest supplier of shrimp to USA. The Dollar Business Bureau | @TheDollarBiz Concerns of over-fishing and climate change are forcing a change in production and exports of seafood products across the world. India is not unaffected.

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Abraham J. Tharakan, President, Seafood Exporters Association of India (SEAI)

While India’s seafood exports have grown steadily to around $5 billion in FY2013-14, and are estimated to grow to $6 billion in FY2014-15, experts say that aquaculture is perhaps the only reliable way India can meet its seafood export target of $10 billion by 2020. Abraham J. Tharakan, President of the Seafood Exporters Association of India (SEAI), told The Dollar Business, “Major oceans are either overfished or fully fished; ocean catches world-over are dwindling due to overfishing and swift changes of the ocean's environment. Consequently, for world fisheries, including India, aquaculture is the only future to both meet the export target of $10 billion by 2020 and also provide essential protein for future generations by promoting inland fish culture.” India today ranks among the top three aquaculture shrimp producing nations in the world. In FY2013-14, aquaculture shrimps accounted for around $2.3 billion or about 47% of the total seafood exports by India. The leader within India is Andhra Pradesh, which alone accounted for about $1.35 billion or 27% of the total exports. “However, this is not the full potential of Andhra Pradesh, and the state’s aquaculture exports alone has the potential to grow to over $3 billion before 2020,” Abraham J. Tharakan says. He also adds that India can become the leading aquaculture producer in the world within the next few years, with correct policies and if other coastal states like Odisha, West Bengal, Gujarat, Maharashtra and Tamil Nadu follow the example of Andhra Pradesh.

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The Dollar Business Bureau - Aug 30, 2014 10:58 IST

Aquaculture shrimps can help India’s seafood exports reach $10 billion by 2020: SEAI

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