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Support measures likely in national fisheries policy to promote exports of marine products

Press Trust of India  |  New Delhi 

The government is likely to provide certain support measures in the proposed national fisheries policy to promote exports of marine products, an official said.

The government is drafting a national fisheries policy to enhance growth of marine fishery, aquaculture and mariculture in the country.

"One of the prime objectives of the policy is to double fishery exports and improve lives of fishermen," the official said.

The sector has been one of the major contributors of foreign exchange earnings with India being one of the leading seafood exporting nations in the world.

The marine exports stand at about 5 per cent of total exports of India, which was USD 330 billion in 2018-19. It constitutes about 20 per cent of total agri-exports.

During 2018-19, export of marine products stood at 13,92,559 tonnes and valued at Rs 46,589 crore (USD 6.73 billion).

The rapid increase in the growth of seafood exports has been mainly due to boom in brackish water aquaculture.

The official also said the greater emphasis would be given for product and market diversification in exports with improved infrastructure, trained human resources and support facilities to move up the value chain and meet international standards.

Appropriate interventions are also under consideration in the policy to address the critical gaps for growths of exports, the official added.

India is emerging as the fourth-largest exporters of sea food in the world and it is the second-largest aquaculture producer, and third-largest fish producer in the world.

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

First Published: Wed, February 12 2020. 20:32 IST