US Senator Calls for Action on Potentially Unethical Shrimp Imports from India
Louisiana Senator Bill Cassidy is urging the United States Trade Representative (USTR) to investigate potential labor abuses and antibiotic use in India’s shrimp industry. The Senator’s request comes in response to a recent whistleblower report raising concerns about the safety and ethics of shrimp imported from India. Senator Cassidy expressed
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),
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,
Cabinet Approves ₹6,000 Crore Boost for MSME Fisheries: “Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana” Promises Jobs, Growth, and Empowerment
Imagine: A bustling fish market, vibrant with activity. Fisherfolk haul in their catch, women entrepreneurs run cold storage facilities, and young graduates manage thriving aquaculture businesses. This vision is closer to reality with the Indian government’s Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY), a new sub-scheme under the larger Pradhan
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
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
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
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
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
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