India’s Seafood Exports to Grow 20% in FY18

India’s seafood exporters expect that exports will grow over 20 percent in FY18 after sales figures touched an all-time high of $5.78 billion in FY17 when USA imported 1,88,617 tons of Indian seafood — a growth of 22.72 percent in quantity from the previous year.

“With exports to U.S. setting new records and the markets’ rising appetite, the industry [in India] is confident of a strong [export] growth for Indian shrimps,” said Rahul Kulkarni, director, WestCoast Group, a leading seafood exporter from India.

Shrimp

Shrimp

Business Standard reports that India’s exporters are pinning hopes on growth in exports with the adoption of the Vannamei or Pacific White variety of shrimp in recent years over the Black Tiger. “The area brought under Vannamei cultivation is on the rise in states like Odisha and West Bengal. There is also emergence of demands from new countries like Canada and Australia,” said G. Mohanty, an Odisha-based exporter.

 

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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