India achieved a remarkable milestone in seafood exports during FY23, with a record-breaking volume and value. Despite challenges faced in key export markets like the USA, India exported 1,735,286 million tonnes (MT) of seafood valued at US$ 8.09 billion (Rs. 63,969.14 crore). This represents a 4.31% increase in US$ terms, 11.08% increase in Rs., and a substantial 26.73% increase in quantity compared to the previous fiscal year.
Frozen shrimp continued to dominate as the leading export item, with the USA and China emerging as the primary importers of Indian seafood. Frozen shrimp accounted for 40.98% of the total quantity and generated 67.72% of the US$ revenue, amounting to US$ 5.48 billion (Rs. 43,135.58 crore). The export of frozen shrimp increased by 1.01% in rupee value, with an estimated total export of 711,099 MT in 2022-23. The USA imported the highest quantity of frozen prawns (275,662 MT), followed by China, the European Union, South-East Asia, Japan, and the Middle East.
The export of black tiger (BT) shrimp witnessed significant growth in 2022-23, with increases of 74.06% in quantity, 68.64% in rupee value, and 55.41% in US$ terms.
Frozen fish ranked as the second-largest exported item, contributing US$ 687.05 million (Rs. 5,503.18 crore), accounting for 21.24% of the total value and 8.49% of US$ earnings. The export of frozen fish saw substantial growth of 62.65% in quantity, 58.51% in rupee value, and 45.73% in US$ value.
Other notable exports included surimi, frozen octopus, surimi analogue products, canned products, and frozen lobster. Frozen squid stood as the fourth-largest exported seafood item.
Dried items experienced a remarkable surge in export, with a significant increase of 243.27% in quantity and 167.7% in US$ terms, reaching a total of 252,918 MT.
In terms of imports, the USA remained the largest importer of Indian seafood, with imports worth US$ 2.63 billion, representing a 32.52% share in US$ value. China emerged as the second-largest seafood export destination from India in both quantity and US$ terms, importing 405,547 MT worth US$ 1.50 billion, accounting for a 23.37% share in quantity and 18.64% in US$ terms. The European Union, South-East Asia, and Japan followed as the third, fourth, and fifth-largest export destinations from India in FY23.
