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Business Export Fisheries Focus Story
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141

Navigating the Blue Wave: A Deep Dive into India’s Seafood Sector and the Top 5 Stocks Poised for Exponential Growth

Introduction:India, blessed with an extensive coastline and thriving river environments, has emerged as the world’s third-largest seafood-producing nation, capturing global markets with its quality seafood. The recent surge in seafood exports, reaching an all-time high of US$8.09 billion in the financial year 2022-23, has catapulted the sector into the spotlight. With the government’s ambitious PM Matsya Yojana and focus on aquaculture development, the stage is set for explosive growth. In this article, we delve into the top 5 seafood stocks in India that stand to benefit from these strategic initiatives. 1 Avanti Foods – Riding the Wave of Aquaculture Revolution: Avanti Feeds, a key player in prawn and fish feeds and shrimp processing, takes the lead on our list. With its core revenue generated from shrimp feed, Avanti Feeds is well-positioned to capitalize on the incentives offered under PMMSY, aiming to double seafood exports to Rs 1 trillion. The company’s collaboration plans and eligibility for incentives on value-added products make it a frontrunner in expanding its operations vertically and securing a larger share of the value chain. 2 Apex Frozen Foods – Seizing Opportunities Amidst Global Dynamics: As an integrated producer and exporter of shelf aquaculture products, Apex Frozen Foods is poised to benefit from the political instability in Ecuador, the world’s largest shrimp exporter. With Q4 being a robust quarter for exports, Apex’s emphasis on enhancing aquaculture productivity aligns perfectly with the government’s agenda. The boost in domestic shrimp production, coupled with potential subsidies under PMMSY, positions Apex Frozen Foods for sustainable growth. 3 Coastal Corporation – Expanding Horizons in International Markets: Ranked among the top ten players in the global shrimp processing and distribution industry, Coastal Corporation has strategically inked agreements to foray into Japanese and Korean markets. This move aligns seamlessly with the objectives of PMMSY, emphasizing a doubling of seafood exports. Coastal’s commitment to sustainable practices mirrors the government’s focus, enhancing its marketability in international arenas. The company’s expansion plans, including subsidiaries and new processing facilities, position it for further growth. 4 Kings Infra – Multifaceted Expertise in Aquaculture: Kings Infra’s active involvement in shrimp hatcheries, grow-out farms, and aquaculture-related services uniquely positions it to capitalize on the surge in aquaculture productivity outlined in PMMSY. The launch of SISTA360, a digital platform for sustainable aquaculture solutions, showcases the company’s commitment to innovation. Kings Infra’s diversification efforts, including the launch of Kings Bento, further solidify its standing in the seafood industry. 5 Waterbase – Leading the Charge in Indian Aquaculture: Waterbase, the largest Indian player in the aquaculture industry, stands to benefit from the government’s initiatives to boost aquaculture productivity and double seafood exports. With a 100% integrated aquaculture EOU, Waterbase is well-equipped to meet the rising demand for shrimp. The company’s plans to invest in expanding facilities align with the anticipated growth in demand, offering a robust avenue for revenue and market share expansion. Conclusion:India’s seafood sector is riding a tidal wave of growth, propelled by government initiatives, global dynamics, and increasing demand. The top 5 seafood stocks mentioned – Avanti Foods, Apex Frozen Foods, Coastal Corporation, Kings Infra, and Waterbase – present investors with exciting opportunities in a sector poised for explosive growth. As the industry navigates the currents of change, these companies stand out as beacons of success in India’s flourishing seafood landscape.

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Aquaculture News Trade
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128

India Casts its Net Wider: Budget Boosts Booming Aquaculture Industry

India’s vast coastline and thriving seafood industry have long been an anchor of the nation’s economy. Now, with a focus on boosting aquaculture and exports, the recent budget has cast a wider net, promising calmer waters and a brighter future for the sector. A Thriving Catch: India’s Aquaculture Prowess As the world’s third-largest fish producer and second in aquaculture, India boasts a vibrant seafood industry. Coastal aquaculture, particularly shrimp farming, reels in significant foreign exchange, with frozen shrimp constituting a whopping 70% of seafood exports. This sector not only nourishes the nation but also generates valuable jobs and economic activity across coastal states. Investing in the Future: PMMSY to the Rescue Recognizing the industry’s potential, the government launched the Pradhan Mantri Matsya Sampada Yojana (PMMSY) in 2020. This ambitious scheme, with a total outlay of nearly Rs 20,000 crore, aims to modernize fishing infrastructure, create integrated aqua parks, and ultimately double aquaculture exports. This translates to not only a potential Rs 1 lakh crore boost in exports but also the creation of 50 lakh new jobs, a welcome wave of opportunity for coastal communities. Riding the Tailwinds: Industry Leaders Set to Gain The budget’s focus on aquaculture is music to the ears of industry leaders like Avanti Feeds, the dominant shrimp feed producer, and Apex Frozen Foods, a major frozen shrimp exporter. Increased productivity and yields promised by the PMMSY will equip them to compete more effectively in the global market, where countries like Ecuador have been making waves with their competitive pricing. Beyond the Numbers: A Sustainable Future for Seafood The budget’s focus extends beyond mere numbers. By promoting sustainable practices and responsible aquaculture, the government aims to ensure the long-term health of this vital sector and the marine ecosystem it depends on. This holistic approach paves the way for a future where India’s seafood industry not only thrives but also serves as a model for responsible and sustainable aquaculture practices worldwide. So, next time you savor a delicious seafood dish, remember the efforts being made to ensure its quality, sustainability, and the economic well-being of coastal communities. With the recent budget acting as a guiding light, India’s aquaculture industry is poised to navigate towards calmer waters and a brighter future.

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Business Export Fisheries Focus Story International
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119

Shrimp Boom: Indian Seafood Swims Upstream as Exports Dive

While global economic woes dampen seafood exports, India’s domestic market is experiencing a delightful catch. Premium companies are diving in, lured by the rising demand for succulent shrimp, squid, lobster, and seer fish. This shift presents a unique opportunity to transform the largely unorganized Indian seafood industry and establish the country as a major player in the global market. Pent-Up Demand Drives Domestic Growth The pandemic years triggered a remarkable change. Consumers, particularly in major cities like Delhi and Bengaluru, are increasingly seeking premium seafood. This pent-up demand, coupled with the rebound of restaurants, has fueled a 9-10% growth in the domestic market, exceeding the industry average. Shivam Gupta, Director of WestCoast Fine Foods, attributes this rise to organized players like his company, which are witnessing a growth of 30% or more. From Exports to Homegrown Feasts The abundance of shrimp, thanks to booming aquaculture, is another key driver. India’s production now surpasses 9 lakh tonnes, with over 7 lakh tonnes currently exported. However, with export prices declining due to a global glut, processors and exporters are finding the domestic market increasingly attractive. Premium items like Vannamei shrimp, seer fish, and tiger prawns, previously reserved for export, are now gracing Indian dinner tables. Even high-end Atlantic salmon finds takers in big metros. Investing in Freshness: From Ocean to Plate Companies like FreshToHome are leading the charge with hefty investments in infrastructure and transportation to guarantee freshness. Their intricate cold chain network ensures fish caught in Kerala reaches Delhi customers the next morning. This commitment to quality has translated into a projected 20% rise in their turnover. Beyond Shrimp: Surimi Finds its Niche The market is expanding beyond traditional favorites. Surimi, a value-added product mimicking crab and lobster textures, is finding acceptance. Gadre Marine Export, the leading surimi exporter, has successfully tapped into this domestic potential, witnessing a 25-30% growth. From Farms to QSRs: Ready-to-Eat Seafood Revolution Kings Infra Ventures Ltd. is taking things a step further with plans to establish a chain of quick-service restaurants (QSRs) offering ready-to-serve seafood recipes. This innovative approach aims to bring the convenience of “heat and eat” delicacies to the masses. Challenges and Opportunities While affordability and changing preferences have boosted the market, challenges remain. Abraham Tharakan of Amalgam highlights the need for government campaigns similar to those promoting eggs to raise consumer awareness of the health benefits of seafood like shrimp. Additionally, Ravi Kumar Yellanki, president of All India Shrimp Hatcheries Association, emphasizes the importance of cold chain infrastructure to minimize wastage. The Future is Blue: A Sustainable Path Expert Market Research predicts the Indian shrimp market to reach 2.12 million tonnes by 2032. By addressing existing challenges and capitalizing on the immense potential, India can not only revolutionize its domestic seafood industry but also emerge as a strong contender in the global market. This “shrimp boom” presents a unique opportunity to chart a sustainable course for the future of Indian seafood, ensuring both economic prosperity and delicious plates for all.

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Aquaculture Fisheries Focus Story Sustainability Technology
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134

Fish Out of Water: Growing Seafood in Labs, a Kochi Lab Leads the Way in India

Imagine enjoying your favorite fish dish without harming the oceans or contributing to overfishing. Sounds too good to be true, right? But thanks to advancements in lab-grown meat technology, this vision might become a reality sooner than you think. In a pioneering initiative, a government lab in Kochi, India, has joined forces with a private company to develop lab-grown fish meat. This project holds immense potential for food security, environmental sustainability, and even revolutionizing the seafood industry in India. What is Lab-Grown Fish? Think of it as fish raised outside the sea. Lab-grown fish meat involves isolating fish cells and nurturing them in a controlled laboratory environment with special media. This eliminates the need for traditional fishing and animal cruelty, while aiming to replicate the taste, texture, and nutritional value of real fish. The Kochi Collaboration: Taking India to the Forefront The ICAR-Central Marine Fisheries Research Institute (CMFRI) in Kochi has partnered with Neat Meatt Biotech, a company specializing in cell culture technology. CMFRI will focus on research, isolating and cultivating cells from high-value fish like pomfret, kingfish, and seerfish. Neat Meatt will contribute their expertise in optimizing growth media, developing scaffolds for cell attachment, and scaling up production using bioreactors. Why Grow Fish in Labs? Overfishing has pushed many fish populations to the brink, posing a threat to marine ecosystems and food security. Lab-grown fish offers a promising solution. It can ease pressure on wild fish stocks, eliminate antibiotics and environmental contaminants from the equation, and provide a clean, sustainable source of seafood. Global Race for Lab-Grown Seafood While large-scale commercial production is still on the horizon, several countries are actively pursuing this technology. Israel leads the pack, followed by Singapore, the United States, and China. Companies like Forsea Foods and Steakholder Foods are making significant strides, showcasing the feasibility of lab-grown fish fillets and eel meat. India Joins the Game: Bridging the Gap Recognizing the potential of this technology, CMFRI and Neat Meatt aim to accelerate India’s involvement in this sector. This collaboration aims to bridge the gap with other leading nations and establish India as a player in the future of sustainable seafood production. Looking Ahead: A Future with Lab-Grown Options? With the support of this Kochi-based project, India might soon join the global race for lab-grown meat. While we wait to see fish fillets grown in labs on supermarket shelves, one thing is certain: this innovative approach holds immense promise for a more sustainable and secure future of seafood. Beyond Fish: A Broader Meat Revolution Lab-grown meat isn’t limited to fish. Companies worldwide are developing lab-grown versions of chicken, pork, lamb, and even beef. This technology has the potential to revolutionize the entire meat industry, offering ethical and sustainable alternatives to traditional meat production. With continued research and investment, the future of food might look very different – and much more sustainable – than it does today. I hope this rewritten article provides a more engaging and human-readable version of the original text, with a clear and catchy title!

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133

Diving Deeper: Indian Seafood Tech Startup Makes Waves with $4 Million Funding

Chennai-based Aquaconnect, a full-stack aquaculture startup, has raised $4 million in a pre-series B funding round led by S2G Ventures. The startup aims to transform the Indian aquaculture landscape by linking fish farmers to supplies and markets. Aquaconnect will use the fresh funding to ramp up its operations, expand its footprint, shore up its tech stack, diversify its product portfolio, and double its network of partners in the next six months. The investment from S2G Ventures comes at a critical juncture as Aquaconnect gears up for its next phase of growth to capture new opportunities. Aquaconnect’s founder and CEO, Rajamanohar Somasundaram, said, “The investment from S2G reinforces our mission of transforming the Indian aquaculture landscape. The funds come at a critical juncture as we gear up for our next phase of growth to capture new opportunities, with an intense focus on expanding our operations in major markets.” The startup claims to have scaled up its revenues by 4x in the last fiscal year and operates last-mile touchpoints, offering services such as disease diagnosis, feed recommendations, and market linkages. India’s aquaculture market is largely unorganized, and Aquaconnect aims to change that by providing a platform for fish farmers to access supplies and markets. The startup competes with the likes of AquaExchange, Captain Fresh, and Eruvaka. AquaExchange, another Indian aquaculture startup, recently secured $6 million in its Series A funding round led by Singapore-based Aqua-Spark. Aquaconnect’s latest funding round was backed by names such as AgFunder, Omnivore, Rebright Partners, Louis Dreyfus Company Ventures, and Suneight Investments. The startup plans to use the fresh capital to expand its operations across India and venture into new segments. Aquaconnect’s mission is to transform the Indian aquaculture landscape by providing fish farmers with the tools and resources they need to succeed. With the latest funding round, Aquaconnect is well-positioned to continue scaling its operations and expanding its footprint across India.

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News Technology
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143

Leveraging Frontier Technologies to Revolutionize India’s Fisheries Sector

In response to the surging demand for fish, an imperative driving force for the economy, NITI Aayog Vice Chairman Suman Bery emphasized the need for innovative strategies to enhance productivity. Speaking at a high-level national workshop jointly organized by NITI Aayog, the Central Marine Fisheries Research Institute (CMFRI), and the Kerala Fisheries Department in Kochi, Bery underscored the pivotal role of technology as a key driver for growth. Bery highlighted the potential of frontier technologies, specifically artificial intelligence, to address challenges in the marine fisheries sector. Recognizing the rising disparity between states, NITI Aayog Member Ramesh Chand expressed concern about the imbalanced growth in fisheries, citing Andhra Pradesh’s production as 50% higher than the combined total of Gujarat, Maharashtra, Kerala, Tamil Nadu, and Karnataka. He called for increased attention to address this disparity. Chand also noted that the demand for fish doubled in the past decade, ending in 2022, compared to the previous decade ending in 2012. Stressing the promising export share of fisheries in agriculture and food commodities, he proposed measures to boost seafood exports, including enhancing value addition and introducing cutting-edge processing innovations. Chand highlighted the potential for India to tap into unexplored value-addition opportunities in seafood by establishing state-of-the-art processing facilities, ultimately earning greater foreign exchange. The high-level national workshop, inaugurated by NITI Aayog Vice Chairman Suman Bery, saw the participation of key figures such as NITI Aayog Member Ramesh Chand, Indian Council of Agricultural Research (ICAR) Deputy Director General J K Jena, and Kerala’s Fisheries Principal Secretary K S Srinivas. The event brought together high-ranking officials from NITI Aayog, the Union Fisheries Ministry, and the fisheries departments of nine coastal states and one Union territory, collectively exploring ways to harness the immense potential of the fisheries sector in marine states.

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Aquaculture Fisheries News Shrimp
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176

Government of India Unveils Ambitious ₹576 Crore Plan to Establish Northern Shrimp Farming Hub

In a strategic move to boost aquaculture and create a thriving hub for shrimp farming, the Union government of India is set to launch a ₹576 crore plan across four northern states. The initiative aims to utilize non-arable land in Uttar Pradesh, Rajasthan, Haryana, and Punjab for shrimp farming, catering to both domestic consumption and export markets. This plan comes as India solidifies its position as the second-largest aquaculture shrimp producer globally, reaching 900,000 tonnes in 2022, trailing only behind Ecuador. Over the past year, officials and scientists from the Department of Fisheries and the Central Institute of Brackishwater Aquaculture have identified thousands of hectares of saline wasteland in 25 districts, where shrimp aquaculture could thrive. Surprisingly, the productivity of farmed crustaceans in Haryana matches the world average at approximately 6-7 tonnes per hectare, making it a potential major center for shrimp farming, breaking away from the traditional coastal dominance. India’s shrimp farming sector has received support from international organizations such as the World Bank, Food and Agriculture Organization, and the Asian Development Bank. With both houses of Parliament passing the Coastal Aquaculture Authority (Amendment) Bill 2023, the Indian seafood sector anticipates accelerated growth. Unlike traditional shrimp farming practices that are often associated with ecological concerns, the proposed hubs in northern states emphasize eco-friendly methods. Incorporating technologies like biofloc, the hubs will be developed exclusively on unproductive wasteland, mitigating environmental impacts. Sagar Mehra, Joint Secretary in the Fisheries Department, highlighted the eco-friendly approach, stating, “The difference with the shrimp hubs in these states will be that they will be eco-friendly, using technologies such as biofloc and will come up only on unproductive wasteland.” The initiative aims to generate 50,000 local jobs, ranging from direct employment to positions in ancillary warehousing and cold storages. A modern aqua park in Bhiwani, funded with ₹100 crore, will serve as a training center to further support the growth of the aquaculture sector. To address environmental concerns associated with shrimp farming, the hubs in northern India will adopt biofloc technology developed by the Central Institute of Brackishwater Aquaculture. This innovative approach treats excreta and other wastes on-site, converting them into feed for the crustaceans, thus minimizing the environmental impact. The Pradhan Mantri Mudra Yojana, with funding shared on a 60:40 basis between the Centre and states, aims to create aquaculture assets sufficient to generate 5.5 million livelihoods nationally by 2025. This micro-credit scheme will make funds available to new shrimp farmers, promoting sustainable growth in the sector. The chosen districts for the project include Rohtak, Fatehabad, and Gurugram in Haryana; Mathura, Agra, and Hathras in Uttar Pradesh; Fazilka, Muktsar, and Mansa in Punjab; and Ganganagar and Churu in Rajasthan. Experts emphasize the importance of comprehensive support throughout the project, ensuring successful implementation and market linkages to secure export avenues and competitive prices. Agreements with the Marine Products Export Development Authority are expected to facilitate exports, further enhancing the success of this ambitious venture.

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Focus Story Indian Cuisine Seafood Dishes
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135

Changing Consumption Patterns Threaten Shark and Ray Species in India: A Shift Beyond Traditional Communities

In a recent study conducted by researchers, it has been revealed that the consumption of shark and ray meat in India is no longer confined to tribal and coastal communities. Instead, the demand has expanded to include new demographics such as foreign tourists and the middle- and upper-class population. This shift in consumption patterns raises concerns about the sustainability of fishing practices and the potential threat to shark species in India, already the world’s third-largest exploiter of sharks and rays. The study, led by Divya Karnad from the Department of Environmental Studies at Ashoka University, identified 2,649 seafood restaurants across 10 coastal states and Union territories in India. Surprisingly, 292 of these establishments featured shark meat on their menus, indicating a growing market for elasmobranch meat. Goa emerged as a hotspot for shark and ray meat consumption, with 35.8% of its seafood restaurants offering these dishes. Tamil Nadu followed closely with 34.6%, and Maharashtra accounted for 4.6%. Together, Goa and Tamil Nadu represented a substantial 70% of all restaurants serving shark meat in India, totaling 251.6 tonnes of shark meat annually. This quantity is equivalent to approximately 83,866 sharks, each weighing around 3 kg, constituting 9.8% of India’s annual elasmobranch landings. Historically, shark and ray meat consumption was limited to coastal and tribal communities, but the study highlights a significant increase in demand since the 1960s and 1970s, both in South Asia and globally. The authors also noted a shift in preferences, with even deep-sea sharks now being consumed in India. The study emphasizes the threat posed by local consumption to over a third of shark and ray species globally, which are already facing extinction risks. While India has implemented some protective measures, such as banning live-finning and the export of fins, legal local meat consumption continues to drive fishing activities. Insights from Goa, where shark consumption is deeply rooted in tradition, reveal changing consumption patterns. Local Goans and foreign tourists, particularly from Russia, the United Kingdom, Germany, and Israel, are among the main consumers of shark meat. The authors stress that this trend jeopardizes not only small-bodied sharks but also juvenile individuals of large-bodied species, potentially impacting their reproductive cycles. To address this issue, the researchers propose various measures, including substituting other types of seafood, reducing bycatch, raising prices, and conducting seafood consumer awareness campaigns. Additionally, they suggest highlighting the health risks associated with consuming shark and ray meat, as these species often carry concentrations of heavy and toxic metals above permissible limits. The findings, published in the journal Conservation Science and Practice, underscore the need for urgent conservation efforts to mitigate the growing threat to shark and ray species in India.

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Conservation Ocean Wonders Research
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126

Decoding the Enigma: Scientists Unravel the Genetic Secrets of Kerala’s Rare “Brahmanakenda” Fish

Scientists have cracked the code of the mitochondrial genome of Lepidopygopsis typus, a unique and endangered fish species known as the “Brahmanakenda” found only in Kerala’s Periyar Tiger Reserve. This breakthrough promises to unlock secrets about the evolution and survival of this enigmatic creature, while highlighting the urgent need for conservation action. The “Brahmanakenda” stands out not just for its restricted habitat but also for being a “monotypic” species, the sole representative of its genus. Understanding its genetic makeup through mitogenome sequencing is crucial to grasping its evolutionary journey and relationships with other fish. Sadly, this fascinating fish faces the threat of extinction, listed as “endangered” on the IUCN Red List. Its limited range and competition from invasive species like carp and catfish put its future at stake. The research, published in the journal Genes, sheds light on how the “Brahmanakenda’s” unique genetic structure and molecular traits allow it to thrive in the cold, mountainous streams of the Western Ghats. But these very adaptations, researchers warn, might also contribute to its vulnerability. The team, led by scientists from Kerala University of Fisheries and Ocean Studies and Christian College, Chengannur, emphasizes the pressing need for a conservation action plan. The “Brahmanakenda’s” narrow distribution, invasive species threats, and peculiar genetic makeup necessitate immediate and targeted intervention. “This exceptional fish is not just a rare species; it’s a window to the evolutionary history of the Western Ghats,” says Rajeev Raghavan, lead author of the study. “Deciphering its genetic code gives us crucial insights for effective conservation strategies to secure its future. We must act now to protect this living heritage of Kerala.” The successful decoding of the “Brahmanakenda’s” mitochondrial genome marks a significant step towards safeguarding this irreplaceable fish. By understanding its unique biology and the challenges it faces, researchers and conservationists can now work together to ensure its survival in the pristine waters of the Western Ghats.

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Aquaculture Business Fisheries News
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192

Kings Infra Dives into Ready-to-Eat Market with ₹40 Crore Boost from Punjab National Bank

Kings Infra, a leading name in seafood processing and export, has secured a ₹40 crore working capital loan from Punjab National Bank. This investment will fuel the company’s ambitious plans to launch ready-to-cook and ready-to-eat seafood products in the Indian market, tap into the rising demand for premium seafood, and expand its export reach. King Bento to Spice Up Indian Kitchens: Shaji Baby John, Chairman and Managing Director of Kings Infra, announced the exciting launch of “King Bento,” a new brand of ready-to-cook and ready-to-eat seafood products. This strategic move caters to the growing demand for convenient and healthy food options in India. Capitalizing on Premium Seafood Boom: Recognizing the surge in demand for high-quality, antibiotic-free seafood, Kings Infra plans to leverage its expertise to cater to this lucrative segment. This aligns with the company’s commitment to providing healthy and sustainable seafood options to both domestic and international markets. Financial Performance and Market Response: The company’s impressive financial performance, with consistent growth in revenue and profitability, has garnered positive attention. Akshay Agarwal, Managing Director of Acumen Capital Services Ltd., highlighted a 4.2% increase in Kings Infra’s share price on the BSE following the news of the investment and expansion plans. Securing Major Contracts and Expanding Reach: Kings Infra has secured two long-term contracts for vannamei shrimp supply to China and the US, each valued at over Rs 100 crore per annum. This not only strengthens the company’s export portfolio but also opens doors to new markets. With the additional capital, Kings Infra aims to increase its turnover from Rs 60 crore to Rs 100 crore within a year. Becoming a Merchant Exporter and Entering Retail: To meet its ambitious export commitments, Kings Infra has strategically partnered with leading processing plants to become a merchant exporter. Additionally, recognizing the immense potential of the domestic market, the company has entered the retail space with B2B and B2C offerings in institutional and retail packs. This strategic infusion of capital and Kings Infra’s proactive approach position the company for significant growth in the coming years. The launch of King Bento, coupled with its focus on premium seafood and market expansion, promises to make Kings Infra a household name in the Indian seafood industry.

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News
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121

MPEDA Secures Trademark for “Indian Seafood. The World Loves It” Logo, Solidifying Global Brand Identity

The Marine Products Export Development Authority (MPEDA) has cemented its commitment to showcasing the excellence of Indian seafood with the recent acquisition of a trademark for its captivating logo, “Indian Seafood. The World Loves It.” The trademark, registered under the Trade Marks Act, 1999, bears the number 4902024 and was officially granted on December 18, 2023. This significant achievement underscores MPEDA’s unwavering efforts to establish a distinct and recognizable identity for Indian seafood on the global stage. The trademark, valid for 10 years with the option for renewal, encompasses preserved, dry, and frozen seafood products, falling under Class 29 of the trademark classification system. Key Highlights of the Trademark Registration: Reinforcing Global Recognition for Indian Seafood The “Indian Seafood. The World Loves It” trademark serves as a powerful symbol of India’s growing prominence as a leading seafood exporter. It signifies MPEDA’s unwavering dedication to: MPEDA’s Unrelenting Commitment to Excellence This trademark registration marks a pivotal step in MPEDA’s journey to strengthen the global reputation of Indian seafood. It signifies a steadfast commitment to quality, sustainability, and innovation, ensuring that Indian seafood continues to capture the hearts and taste buds of consumers worldwide.

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Conservation Fisheries News Sustainability
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136

Veraval Gets TED-ucated: MPEDA and CIFT Champion Sustainable Shrimp Trawling

Trawling towards Sustainability: MPEDA and CIFT Team Up for TED Implementation in Veraval The Marine Products Export Development Authority (MPEDA) and the Central Institute of Fisheries Technology (CIFT) joined forces in Veraval, Gujarat, on December 20th, 2023, to tackle the critical issue of sea turtle conservation. The focus of the event was a preliminary workshop on the development and implementation of Turtle Excluder Devices (TEDs) in Indian trawlers. The workshop began with a warm welcome from Dr. Joice Thomas, Chief Executive of NETFISH at MPEDA. Mr. Anilkumar P, Joint Director- M at MPEDA, highlighted the urgency of stricter TED implementation in Indian trawlers to address the recent US ban on sea-caught shrimp. Dr. Ashish Jha, Scientist-in-Charge at CIFT Veraval, offered an opening felicitation, setting the stage for a productive discussion. Mr. Shakthivel A, Assistant Director at MPEDA, presented a detailed overview of US laws and the existing TED implementation framework in India. This provided context for the subsequent discussion led by Dr. Madhu V R, Principal Scientist at CIFT Kochi. Dr. R delved into the technical aspects of TED design and specifications, elaborating on how CIFT-designed TEDs adhere to NOAA guidelines. To further enhance understanding, a live demonstration of a CIFT-designed TED was conducted for the workshop participants. Over 40 individuals, including net manufacturers, actively participated in the workshop, engaging in discussions and seeking clarifications. This enthusiastic response underlines the growing awareness and concern for sea turtle conservation within the fishing community. The workshop concluded with a vote of thanks by Mr. Kishorkumar, Assistant Director at MPEDA Veraval. This collaborative effort between MPEDA and CIFT marks a significant step towards sustainable shrimp trawling practices in India. By prioritizing TED implementation and actively engaging with stakeholders like net manufacturers, the workshop paves the way for a future where both economic prosperity and environmental protection go hand-in-hand.

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News Ocean Wonders
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137

Deep Sea Wonders Wash Ashore: Venomous Beauties on Chennai Beach

Chennai’s shoreline witnessed a rare and captivating sight – hundreds of deep-sea creatures, the mesmerizing Blue Sea Dragon and the button-like Blue Button, washed ashore by recent storms. While their beauty is undeniable, these exotic visitors pack a hidden punch – a potentially stinging surprise. The Blue Sea Dragon, a nudibranch, uses its chameleon-like abilities to blend with the ocean depths. Spotted individually or in mesmerizing “blue fleets,” these creatures capture attention with their vibrant hues. Despite their looks, they contain venom borrowed from their prey, including the Portuguese Man o’ War. The Blue Button, though resembling a single organism, is actually a colony of tiny predators called hydroids. Don’t be fooled by their name – they can trigger skin irritation and rashes if touched. Their stinging mechanism, similar to the “man o’ war,” serves as a defense against curious hands. Experts attribute their arrival to Cyclone Michaung, which churned the seabed and dislodged these deep-sea dwellers. While their presence is fascinating, wildlife officials urge caution: admire from afar, but don’t attempt to touch. Their venom, though not lethal, can be unpleasant. These captivating creatures, however, face a harsh reality on land. Unable to withstand the scorching temperatures, they are destined to perish on the shore. Their brief sojourn serves as a reminder of the interconnectedness of our oceans and the delicate balance of marine life. While appreciating their beauty, let’s remember to respect these deep-sea visitors and maintain a safe distance. Their arrival, though not common, offers a glimpse into the hidden wonders of the ocean depths, leaving behind a tale of resilience, beauty, and a little bit of sting.

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Fisheries News
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137

Island UTs Dive into Blue Economy Boom: Fisheries, Aquaculture, and Seafood Exports Take Center Stage

The Union Territories of Andaman & Nicobar Islands and Lakshadweep are charting a thrilling course towards economic prosperity, with the government prioritizing the development of a vibrant blue economy. Fisheries, aquaculture, and seafood exports are taking center stage in this transformation, fueled by a wave of strategic initiatives and investments. Infrastructure and Logistics Pave the Way: Recognizing the critical role of infrastructure, the government is heavily investing in building modern harbors, cold storage facilities, and processing plants. The Chennai-Andaman Nicobar Islands (CANI) and Kochi-Lakshadweep Islands Submarine Optical Fiber Cable projects revolutionize internet connectivity, enabling seamless communication and e-commerce participation for fisher communities. Boosting Productivity and Catch: Deep-sea fishing and aquaculture initiatives are gaining momentum, with assistance provided for boat modernization and acquisition. Post-harvest handling and processing infrastructure is being upgraded, along with the adoption of cutting-edge technologies like Fish Aggregating Devices to optimize catches. Empowering Fishers and Building Markets: Forward market linkages, cooperative societies, and Self Help Groups (SHGs) empower fishers and facilitate market access. Agencies like MPEDA, EIA, and CMFRI provide crucial technical support and training, enhancing skills and knowledge. Subsidies and Financial Backing: The Pradhan Mantri Matsya Sampada Yojana fuels growth through subsidies for infrastructure, deep-sea fishing, aquaculture, and market development. Kisan Credit Card scheme ensures easy access to institutional credit for fisher communities. Seaweed Cultivation – A Sustainable Future: Promoting seaweed cultivation with SHGs and cooperatives adds another dimension to the blue economy. This sustainable practice not only generates income but also helps protect the delicate marine ecosystem. Overall Impact: These initiatives are leading to a flourishing blue economy in the island UTs, with increased fish production, improved livelihoods for fishers, and a thriving seafood export sector. This holistic approach paves the way for a sustainable and prosperous future, driven by responsible resource management and innovative technologies. The island UTs are setting a shining example of how prioritizing fisheries, aquaculture, and seafood exports can unlock immense economic potential, while preserving the unique marine environment. Their success story serves as an inspiration for other coastal regions to embrace the blue economy and chart their own course towards sustainable and inclusive growth.

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Export News
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Asian Seafood in Limbo: India’s Onion Export Ban Hurts Beloved Dishes

Across Asia, beloved seafood dishes are losing their spice due to India’s unexpected ban on onion exports. From Bangladesh’s fragrant biryanis to Sri Lanka’s fiery fish curries, the humble onion, usually sourced from India, is now shrouded in uncertainty. The sudden export halt, spurred by a domestic price hike, has left Asian importers scrambling for alternatives and struggling to maintain the authenticity of their culinary traditions. Onions, a crucial aromatic base in countless seafood dishes, are simply irreplaceable for many Asian palates. In Bangladesh, the situation is particularly dire. Mousumi Akhtar, a Dhaka resident, laments, “Onions are essential for almost every seafood dish we cook. This price hike makes it hard to enjoy our favorites like shrimp mala (spicy shrimp) or fish curry.” The Bangladeshi government is scrambling to source onions from China, Egypt, and Turkey, but these alternatives often lack the desired flavor and sweetness of Indian onions. Nepal, heavily reliant on Indian onion imports, faces an even harsher reality. Tirtharaj Chiluwal, an official with Nepal’s commerce ministry, bleakly states, “There are simply no onions on sale!” The landlocked nation ponders options like Chinese imports and even requesting an export exemption from India. Malaysian seafood cuisine is also feeling the pinch. Agriculture minister Seri Mohamad Sabu confirms, “We’re actively seeking alternative sources like China and Pakistan to keep our seafood dishes authentic.” However, these substitutes pose logistical challenges and may not fully replicate the unique taste Indian onions impart. As the export ban stretches into the new year, anxieties brew across Asia. With limited alternatives and rising prices, the future of iconic seafood dishes hangs in the balance. The economic ripple effect reaches beyond mere ingredients, potentially impacting tourism and cultural experiences linked to these culinary treasures. India’s onion export ban serves as a stark reminder of the interconnectedness of our global food system. While domestic concerns deserve attention, the impact on international culinary traditions and livelihoods should not be overlooked. A balanced approach, perhaps with phased exports or targeted price controls, could mitigate the damage and ensure that the warmth and spice of Asian seafood dishes continue to tantalize taste buds across the continent.

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