Marine Exports

India's marine product exports rise 16% as new markets offset US dip

Shrimp-heavy shipments to China, Vietnam, and Europe help country log $4.87 bn in Apr-Oct

Non-US markets emerge as new growth engine for marine exports: Govt data

India's marine sector exports rose by 16.18 per cent to USD 4.87 billion during April-October this fiscal mainly on account of healthy growth in non-US markets, including China, Vietnam, Russia, Canada and the UK, according to the commerce ministry data. The exports to the US have been impacted because of 50 per cent tariffs on Indian marine products. An official said that a noteworthy shift in trade patterns in the sector has been witnessed during the period. The United States, traditionally India's largest shrimp market, registered a 7.43 per cent decline in exports to USD 85.47 million. "However, this shortfall was more than compensated by a spectacular rise in shipments to China, Vietnam, Belgium, Japan, Russia, Canada and the UK," the official said. These gains reflect both a diversification in export destinations and a structural shift in global sourcing trends, as buyers in Asia and Europe increasingly turn toward Indian suppliers for consistent quality and competitive ...

Still dreaming of the deep sea: India's blue economy and its blind spots

If India truly has such promise in the deep sea, why has modern fishing there never taken off?

India bets on EFTA, UK FTAs to offset US tariff hit on marine exports

Officials told a parliamentary panel that India's FTAs with EFTA and the UK will ease the impact of US tariffs on marine exports, while diversifying markets beyond America

India misses marine export target by over ₹37,000 crore under PMMSY

Looming US tariff threats may further hurt the sector, say experts

Marine insurers monitoring Israel-Iran war, may have to up coverage rates

In case the war escalates, insurers can cancel war risk coverage, and increase marine insurance rates

Adani Ports aims to scale up marine, logistics, agri-logistics arms: CEO

Adani Ports and Special Economic Zone (APSEZ) managing director Karan Adani has said that India's biggest private port operator is focusing on scaling up its marine, logistics and agri-logistics businesses. In an interview with PTI, Adani said that APSEZ, the flagship company of the Adani group, will invest Rs 13,000 crore in Vizhinjam International Seaport in phase 2, which will take this deep-water port's cargo handling capacity from current 1.2 million TEUs (twenty-foot equivalent units) to almost 5 million TEUs by 2028. Prime Minister Narendra Modi on May 2 commissioned the Vizhinjam International Seaport which was completed at an estimated cost of Rs 8,867 crore. "Within APSEZ, we have three big verticals that we are building on -- marine business, logistics business and agri-logistics business," he said. While pointing out that APSEZ is the the largest operator in the country in marine business, Adani said, "the idea now is to keep scaling that (marine business) business up .

Avanti Feeds, Apex Frozen bleed up to 18% on Trump's 27% reciprocal tariff

The drop in these shrimp stocks followed the imposition of a 27 per cent reciprocal tariff on India by US President Donald Trump

Food, beverage, marine exports could hit $100 bn in 4-5 yrs: Piyush Goyal

There is a potential to increase exports of food, beverages and marine products to USD 100 billion in the next 4-5 years as huge demand is there for these goods in the global markets, Commerce and Industry Minister Piyush Goyal said on Friday. Interacting with the food and beverage industry players, the minister also suggested the companies focus on quality, nutrition and sustainability. "I hope to see a 3-digit mark, a USD 100 billion mark, in our food, beverages, marine products and agri exports in the next 4-5 years," Goyal said. He further said this is not an ambitious target and the industry should work together to take the exports to this level. To enhance the quality of production, the government is looking at expanding testing laboratories in the country. The interaction was held on the sidelines of the Indusfood 2025 exhibition in Greater Noida.

Dassault Aviation CEO to visit India, discuss marine variant of Rafale jets

Various aspects of India's proposed purchase of 26 naval variant of the Rafale aircraft are likely to be discussed during a two-day visit to New Delhi by Eric Trappier, the chairman and CEO of Dassault Aviation, the maker of the jet, people familiar with the matter said on Sunday. Trappier arrives in Delhi on Monday to hold negotiations on the procurement, they said. In July, the defence ministry approved the purchase of the Rafale (marine) jets from France, primarily for deployment on board the indigenously-built aircraft carrier, INS Vikrant. Defence Minister Rajnath Singh will also pay a four-day visit to Italy and France beginning Monday to expand bilateral strategic engagements and explore industrial cooperation for joint development of military hardware. The proposed procurement of the Rafale jets by India is also likely to figure during Singh's talks with his French counterpart, Sebastian Lecornu, in Paris. It is learnt that Trappier is likely to meet Defence Secretary Giri

India aims to double marine product exports to Rs 1 trn in 5 years: Goyal

India aims to double marine product exports to Rs 1 lakh crore in the next five years from the present around Rs 50,000 crore, Union Minister of Commerce and Industry, Food & Public Distribution and Textiles Piyush Goyal has said.

India exports Rs 27,575 cr worth of marine products in Apr-Sept: Centre

The country exported 6.05 lakh tonnes of marine products worth Rs 27,575 crore in the first six months of the current financial year 2021-22 with the most exports undertaken from Andhra Pradesh

Marine exports from India risk damage as China imposes non-tariff barriers

China is one of the key markets for India as far as marine exports are concerned

Best of BS Opinion: Strengthening recovery, India's marine resources & more

Here's a selection of Business Standard opinion pieces for the day

Steep rise in China demand helps arrest decline in marine exports

Value of shipments to that country rose 257 per cent to reach $811 million in FY19, and to $1,025 million in the first eight months of the current financial year

Facing regulations, marine exports expected to remain sluggish: Report

The report revealed that going forward these conditions are likely to persist and overall marine exports are likely to remain subdued in the coming quarters

India's marine product exports to China triples to $800 mn in Jan-Sep 2019

China is a major importer of marine products with imports of around $ 12 billion

European Union may widen scope of testing for Indian marine products

The outcome of the EU's audit was discussed at two standing committee meetings of the European Commission last month

As EU tightens norms, marine exporters hunt for new markets

EU is the third largest market for Indian shrimp exports (traded in dollars) in value terms