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Exports of marine products may reach USD 10 bn by 2020: MPEDA

Press Trust of India  |  Visakhapatnam 

Country aims to improve its export turnover from marine products to USD 10 billion by the year 2020 through promoting safe and sustainable aquaculture, Chairman of Marine Products Export Development Authority (MPEDA) A Jayathilak said here today.

While the country garnered 4.7 billion USD through export of marine products in 2015-16, the target for 2016-17 fiscal has been fixed at 5.6 billion USD.

"Sustainable methods of fishing and aquaculture production through diversification, particularly of L Vannemei variety, will aid this growth and enable us reach the export target by 2020," Jayathilak said at a press conference here on the eve of the biennial India International Seafood Show (IISS).

Union Minister of State for Commerce Nirmala Sitharaman will inaugurate the three-day show being organised by MPEDA and Seafood Exporters Association of India at the Port Trust Jubilee Stadium.

Union Information and Broadcasting Minister M Venkaiah Naidu and Andhra Pradesh Chief Minister N Chandrababu Naidu will also attend the inaugural meet.

USA, United Kingdom, Spain, Belgium, Finland, Sweden, Japan, Vietnam, The Netherlands, Thailand, Vietnam, Taiwan, Germany and China are some of the countries, which are participating in IISS.

As the host state, Andhra Pradesh hopes to utilise the event to give a thrust to aquaculture and boost fisheries production by sharing of technological know-how. The state tops in marine products export in the country with a 45 per cent share.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, September 22 2016. 18:57 IST