According to the data provided by the Marine Products Export Development Authority (MPEDA) in August 2012, India's marine exports are likely to grow by over 28 per cent year-on-year to USD 4.5 billion in 2012-13 fiscal. The growth is expected to rise as a result of the increase in demand in western markets like the US and Europe. During 2011-12, seafood exports had stood at USD 3.5 billion. The US and the Europe together account for over 45 per cent of the country's total seafood exports.
The increase in demand, mainly for Litopenaeus Vannamei shrimp and Black Tiger shrimp, in the US and European markets are likely to raise the India’s marine exports by over 28 per cent. Litopenaeus Vannamei shrimp and Black Tiger shrimp are favourite seafood items in countries like Europe, American, Japan and China.
During April-June 2012-13, the country's marine exports grew at a healthy rate of over 15 per cent compared to the 2011-12 fiscal.
The MPEDA, which is under the Commerce and Industry Ministry, is the nodal agency for promotion of export of marine products from India.
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