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Marine product exports from India raises huge foreign exchange

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The ministry of commerce and industry in India has stated that during the financial year 2014-15, exports of marine products reached an all-time high of $5511.12 million.

Marine product exports crossed all previous records in quantity, rupee value and USD terms. Exports aggregated to 10,51,243MT valued at Rs 33441.61 crores and $5511.12 million. Compared to the previous year, seafood exports recorded a growth of 6.86% in quantity, and 10.05% growth in US dollar earnings.

Frozen shrimp continued to be the major item in the export basket in terms of quantity and value, accounting for a share of 34.01 % in quantity and 67.19% of the total US dollar earnings.