With increasing focus on quality control, value addition and infrastructure, marine product exports from India are projected to increase by about 20 per cent to USD 5.6 billion in 2016-17.
The Marine Products Export Development Authority (MPEDA) expects the industry will reverse the decline from last fiscal when total seafood exports stood at USD 4.7 billion.
“Marine product exports from India are projected to increase nearly 20 per cent to USD 5.6 billion in 2016-17, particularly with strides in aquaculture diversification, quality control, value addition and improved production infrastructure,” the Commerce Ministry said in a statement.
It said the efforts for the sector will be demonstrated at the upcoming biennial India International Seafood Show (IISS) in Vishakhapatnam.
During the three-day function, starting from September 23, technology, sustainable practices followed in capture and culture fisheries in India to ensure quality of seafood produced for both domestic and export market would also be highlighted.
The US and South East Asia are major importers of Indian seafood.
“The show will also focus on new technologies, production infrastructure and value-added products,” it added.
International and domestic exhibitors will showcase their products and services to a potential global market and explore leads and partnerships.
Of the 290 stalls booked at the exhibition, more than 70 are of foreign companies.