New Study : India’s Seafood Consumption Projected to Double by 2048
A new study paints a promising picture for India’s seafood industry, predicting a significant rise in fish consumption within the next two and a half decades. The “Fish Consumption in India: Patterns and Trends” Study This research, conducted jointly by ICAR (Indian Council of Agricultural Research) and WorldFish, along with
India Refutes Labor Abuse Allegations in Booming Shrimp Industry
Top Exporter Faces Scrutiny, Vows to Maintain Standards India, now the world’s leading supplier of shrimp to the US, has vehemently denied allegations of human rights and environmental abuses raised by a Chicago-based human rights group. These accusations come at a time when India’s seafood export industry, particularly shrimp, is
India Aims to Double Seafood Exports in Two Years, Debunking Safety Concerns
A senior Indian government official has outlined ambitious plans to significantly boost the country’s seafood export industry. The goal is to reach Rs 1 lakh crore (approximately $12.5 billion) within the next two years. This strategy hinges on increasing processing capacity and transitioning to higher value-added seafood products. The official,
Shrimp Concerns Shift From Thailand to India: Ethical and Sustainable Sourcing in Focus
The global appetite for shrimp has created a complex issue – balancing affordability with ethical and sustainable practices. While Thailand was once the poster child for these concerns, a new report by the Corporate Accountability Lab (CAL) shines a light on the rise of India’s shrimp industry and the potential
Global Seafood Alliance Responds to Media Reports of BAP Standard Violations in India’s Shrimp Industry
March 26, 2024: Letter from GSA CEO Wally Stevens on India Shrimp Situation Speaking for everyone at the Global Seafood Alliance who dedicates their passion and experience to bring about positive change in the seafood industry, the recent reports of worker abuses in India’s shrimp supply chain are upsetting. A vision
MPEDA Chairman Rejects Criticism, Calls Shrimp Industry “Guilt-Free”
Dodda Venkata Swamy, chairman of India’s Marine Products Export Development Authority (MPEDA), is pushing back against recent media reports and NGO allegations regarding labor abuses, unsanitary conditions, and food safety violations in the Indian shrimp industry. Swamy maintains that India produces “guilt-free seafood” and boasts a “robust regulatory framework” with
A Heartfelt Dive into India’s Shrimp Saga: Crafting a Future Where Everyone Wins
Let’s chat about something that’s been bubbling up in the world of seafood – the Indian shrimp industry. You might’ve heard some buzz, with folks taking sides and a bit of drama unfolding. Elias Sait from the Seafood Exporters Association of India wasn’t too thrilled, calling out what he sees
Norway Cracks Open Indian Seafood Market with New Free Trade Deal
Good news for Norwegian seafood producers! A recently signed free trade agreement between Norway (through trade organization EFTA) and India opens doors to a massive new market. While India isn’t traditionally known for salmon consumption, growing affluence among some Indians creates an opportunity for Western-style food products. Barriers Lowered, Opportunities
Shrimp Sinking: What’s Causing the Industry Downturn?
The shrimp industry holds a significant position in India’s total seafood basket. In FY23, the country’s seafood exports amounted to $8 billion, with frozen shrimps commanding a whopping 70 per cent share of this total. However, the industry has weathered rough times of late. From losing its crown as the
Indian Seafood Exports See Dip, But Hopeful Signs Emerge for Recovery
India’s once-booming seafood export industry is currently weathering a storm. While the initial target for FY24 was a robust $9.25 billion, current estimates project a more modest figure of around $7.5 billion, falling short of the previous year’s $8.09 billion. This decline can be largely attributed to the sharp drop
Indian seafood exporters benefit from rupee settlement with Russia
India’s seafood exports to Russia have seen a significant boost in the last nine months, thanks to the new mechanism of trade settlement in rupees that was introduced by the Reserve Bank of India (RBI) in July 2022. According to the data from the Marine Products Export Development Authority (MPEDA),
High Hopes for High Seas: Can Infrastructure Investment and Seafood Boost India’s Exports
India’s export scene faces a tough challenge with a recent 5.7% dip in merchandise exports. However, amidst the decline, a glimmer of hope emerges from two key areas: high capital expenditure (capex) and a focus on boosting seafood exports. Let’s dive into the details and see if these strategies can
Deep-Sea Tussle: Trawlers Eye Non-Edible Fish, Fisheries Say No
Kerala’s fisheries sector is embroiled in a debate: Should mechanized boats be allowed to catch “pearly hairtail,” a non-edible deep-sea fish used for fishmeal, or stick to their licensed quota of edible species? Boat owners see opportunity: With around 20 lakh tonnes of pearly hairtail estimated off the Kerala coast,