India exported nearly US$ 5.8 billion worth of food and beverage products to the US in 2024, with shrimp and prawn accounting for a major share. However, the US’s recent imposition of a 27% reciprocal tariff on Indian seafood threatens India’s dominance in this segment. As competitors like Ecuador and...
Finance Minister Nirmala Sitharaman presented several initiatives aimed at boosting India’s seafood sector in Union Budget 2024-25. Despite various challenges in significant export markets, India’s seafood exports touched an all-time high in volume in FY 2023-24, shipping 17, 81,602 MT of seafood worth US$ 7.4 billion. The overall budget of...
Sustainable small-scale fisheries could be a major step towards attaining self-sufficiency and sustainability for India’s marine products sector. However, given the buy low-sell high dynamics of the sector and the post-pandemic impact, these fisheries require well-directed support through initiatives likes restructuring of loans, value addition and aggregation into FPOs. The...
Faced with stringent timelines for its summer production cycle, the Indian shrimp industry suffered immense losses due to the lockdowns in the initial months of the pandemic. However, the industry has the opportunity to capitalise on an anticipated demand revival in the US as well as a possible uptick in...
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