SEAFOOD EXPORTS :
ECONOMY
NEWS:
India’s seafood exports
increased by over 30 percent in last four years, stand at Rs. 61043.68 Crore in
2023-24.
WHAT’S IN THE NEWS ?
Growth in
Seafood Exports:
- Increased from Rs. 46,662.85 Crore in 2019-20
to Rs. 61,043.68 Crore in 2023-24.
- Growth rate of 30.81%.
Government
Monitoring and Targets:
- Regular reviews and monitoring of export
performance.
- Internal export target for 2024-25 set at USD
7.86 billion.
Marine
Products Export Development Authority (MPEDA):
- Provides assistance for infrastructure
upgrades, testing laboratories, trade fair participation, and technical
assistance for aquaculture production for exports.
Budget
2024-25 Import Duty Reductions:
- Fish lipid oil and algal prime (flour): 15% to
Nil.
- Krill meal, mineral and vitamin premixes: 5%
to Nil.
- Crude fish oil: 30% to Nil.
- Prawn and shrimp feed, fish feed: 15% to 5%.
- Pre-dust breaded powder: 30% to Nil.
Increased
RoDTEP Rates:
- Increased from 2.5% to 3.1% for various
seafood products.
- Maximum value cap per kg increased to Rs.
69.00.
Pradhan
Mantri Matsya Sampada Yojana (PMMSY):
- Investment of ₹20050 crore in fisheries sector
for 2020-21 to 2024-25.
- Aims to promote exports by addressing gaps in
fish production, quality, technology, infrastructure, and value chain.
- Approved proposals worth Rs. 1283.47 crore for
cold chain infrastructure: 586 cold storages, 78 modernized cold
storages/ice plants, and 26,588 post-harvest transportation facilities.
Source : https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2040868