Ban extended
In a surprising turn of events, India has extended its ban on onion exports indefinitely, sending ripples through both domestic and international markets.
Exports of the Indian Marine Products registered a growth of 35% to USD 6.1 Billion during April-December 2021 as compared to USD 4.5 Billion during the same period in the year 2020, claimed the Ministry of Commerce and Industry here on Sunday.
In the month of December 2021, exports of Marine Products touched USD 720.51 Million, registering a growth of 28.01% over USD 562.85 Million logged in December 2020, said a senior officer of the Commerce Ministry.
He said the overall exports of Marine Products in the last Financial Year (March, 2020-April, 2021) were at USD 5.96 Billion, while the export figure has been crossed in just three quarters (approx USD 6.11 Billion) of this financial year.
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And if all goes well, the sector is likely to exceed the all-time high despite the impact of the Covid19 pandemic since January 2020, the officer claimed.
The top 5 export destinations include USA (44.5%), China (15.3%), Japan (6.2%), Vietnam (4%) and Thailand (3%). Indian Frozen shrimps constitute the major share of the Marine Products exports items with 74% share in value terms (USD), Frozen Fish constitutes (7%), and Frozen Squid (5%), the officer stated.
In a bid to further promote the Blue Revolution in the country, India has set a budget of Rs. 20,050 crore for various development schemes of the fisheries sector in India.
The PMMSY (Pradhan Mantri Matsya Sampada Yojana), being implemented over a period of 5 years from FY 2020-21 to FY 2024-25 in all States/Union Territories, has set a target of Rs. 1,00,000 crore fisheries export, additional 70 lakh tonnes fish production, and generation of 55 lakh employment in the years to come the Ministry said.
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