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Date: 21/01/2025

Seafood exports surpass Rs 60k cr. so far in FY25

India’s seafood industry exports have surpassed Rs 60,000 crore so far in the financial year 2024-25 (FY25), the Ministry of Finance announced, adding proposals to cut Customs duties, among other measures to enhance the sector’s global competitiveness. Frozen shrimp emerged as the star performer, accounting for nearly two-thirds of the total seafood exports. India had shipped 1.78 million metric tonnes of seafood in the last financial year FY24, valued at Rs 60,523.89 crore, despite facing challenges in major export markets. This represented a 2.67% increase in volume at the end of FY24 compared to the previous year. The United States continued to remain India’s top importer, accounting for 34.53% of the total export value ($2.55 billion). Frozen shrimp was the most popular product, making up 91.9% of exports to the US, said a report.

source: Exim News Service: Kochi, Jan. 20