Country?s marine and fish industry is likely to reach R67,800 crore by 2015 from the current level of nearly R53,000 crore, growing at a compound annual growth rate (CAGR) of about 7%. The processed segment comprises of about R8,000 crore which is over 15 % of total size of the domestic marine and fish industry, according to a study titled ?Indian Marine & Fish Industry? released by Assocham.
The fish production in India is likely to cross 12 million tonne (mt) by 2015 from the current level of about 9.3 mt. Captured fish accounts for about 65% of total fish production, while aquaculture accounts for over 30% of annual fish production, said the study.
?Over 8,000 km of coastline, four million hectares of reservoirs, two million hectares of brackish water and nearly 51,000 square km of continental shelf area offers a plethora of opportunities for the growth of marine and fish industry of India,? said DS Rawat, secretary general of Assocham while releasing the findings of the study.
?India?s substantial fishery resources are under-utilised and there is tremendous potential to further increase the output,? said Rawat. ?There is a huge scope for investments in packaged marine processing plant, operations in preservation, processing and export of coastal fish for the private sector as it holds vast, untapped marine resources with a great export potential.? Nearly 30% of marine and fish produced domestically is exported annually. Processing of fish into canned and frozen forms is carried out almost entirely for the export market.
The export earnings in 2010-11 reached nearly $3 billion recording a growth of about 20% compared to the previous year. Vannamei shrimp, black tiger shrimp, cuttlefish, lobster, clams, fish fillets and squid are certain products that provide opportunities for export of marine items from India.
The seafood exports from India are likely to touch $4.7 billion (about R23,500 crore) by 2013 from $2.8 billion (about R14,000 crore) in 2010-11 through value addition, expansion of aquaculture, technological upgradation and by tapping unexplored resources, according to an Assocham study titled ?Indian Seafood Exports Market: 2014.?
The units in the fish processing sector are largely small scale proprietary, partnership firms and fishermen co-operative. There has been spectacular growth in the marine fisheries sector due to well developed harvest and post harvest infrastructure and increased demand for seafood both in the domestic and export markets, said Assocham.
There is scope for developing technology for value addition and infrastructure for exports in the form of marine products based food parks through public private partnership.