Can India’s Deep-Sea Fishing Boom Drive ₹1 Lakh Crore in Seafood Exports by 2030? A detailed analysis.
India’s deep-sea fishing initiative has the potential to help achieve the ambitious target of ₹1 lakh crore in seafood exports by 2030, but it’s not guaranteed. Currently, seafood exports stand at ₹60,523 crore, and reaching ₹1 lakh crore means increasing by about ₹39,477 crore over five years. This is a
Navigating the Regulatory Seas: Challenges and Compliance Issues in India’s Seafood Industry
Explore the key challenges and compliance issues faced by India’s seafood industry, including export regulations, sustainability demands, financial strain on fishers, and environmental compliance concerns.
Marine Aquaculture Market Set for Significant Growth: Projected to Reach USD 300 Billion by 2032
The marine aquaculture market, encompassing the cultivation of marine organisms in oceanic or enclosed seawater systems, is on the brink of substantial growth. According to recent projections, the market is expected to grow from approximately USD 176.8 billion in 2024 to an impressive USD 300 billion by 2032, achieving a
GSA Unveils Seafood Processing Standard 6.0: A New Era in Global Seafood Safety and Sustainability
The Global Seafood Alliance (GSA) has made a significant milestone in the seafood industry with the official release of the Seafood Processing Standard (SPS) version 6.0. This latest iteration is designed to meet the stringent requirements of the Global Food Safety Initiative (GFSI) and marks a substantial advancement in ensuring
Revitalizing India’s Seaweed Industry: New Guidelines for Importing Live Seaweeds
In a pivotal move to enhance the development of seaweed enterprises, the Ministry of Fisheries, Animal Husbandry and Dairying has notified the ‘Guidelines for Import of Live Seaweeds into India’. This initiative is designed to bolster the economic prospects of coastal villages, ensure livelihood sustainability for the fisher community, and
Canned Sardines: A Surprisingly Lucrative Bite-Sized Business Boom
Move over tuna, there’s a new king of the canned fish aisle, and it’s swimming in a wave of popularity. The humble sardine, packed with nutrients and flavor, is experiencing a surge in demand, turning the canned sardine market into a surprisingly lucrative business opportunity. According to a recent study
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,
US Imposes Potential Countervailing Duties on Shrimp Imports from Ecuador, India, and Vietnam
The US shrimp industry has received a boost as the Department of Commerce (DOC) announced preliminary countervailing duties on shrimp imports from Ecuador, India, and Vietnam. These duties are meant to offset any unfair advantage these countries might have gained from government subsidies. The Findings: The DOC determined that shrimp
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
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
Indian Seafood Giant Captain Fresh Prepares to Reel in Europe and America: Salmon Processor and Shrimp Importer Acquisitions on the Hook
Forget whale watching, the Indian seafood industry is preparing to make some serious waves of its own. Venture capital-backed Captain Fresh, a rising star in the sector, is casting its net across two continents, with potential acquisitions of a European salmon processing plant and a US shrimp importer simmering. Europe’s
From Humble Fillet to Culinary Star: Unveiling the Wonders of Indian Surimi
Imagine a seafood haven where affordability and sustainability dance hand-in-hand, where texture mimics the ocean’s bounty and versatility knows no bounds. This isn’t a mythical Atlantis, but the captivating reality of Indian Surimi seafood, a revolutionary force transforming the industry. Surimi, the Japanese term for “minced meat,” is no mere
Rupee Hits Record Low, But Exporters Remain Unfazed
The Indian rupee has been on a downward spiral in recent months, hitting record lows against the US dollar. However, despite this seemingly favorable development for exporters, many in the industry are not celebrating. Why Aren’t Exporters Cheering? There are a number of reasons why exporters are not feeling the
Can Shrimp Ride the Avocado Wave? Exploring the Potential of a Targeted Marketing Campaign
For decades, avocados have enjoyed a meteoric rise in popularity, transforming from a niche fruit to a ubiquitous symbol of healthy living and culinary delight. But can shrimp, a staple in many cultures and a valuable economic resource, replicate this success story? This question lies at the heart of a- 1
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