India’s marine exports to China heading for USD 1 billion mark

at 12:57 pm
India’s marine exports
India’s marine exports to China heading for USD 1 billion mark

New Delhi (NVI): India’s marine exports are expected to cross USD 1 billion mark by the end of this year. As in the first nine months of 2019, India’s exports of marine products to China have tripled and touched almost USD 800 million, according to the data released by China’s customs authority recently. 

The Chinese trade delegation had recently visited India on October 9 and signed a contract for import of marine products worth USD 500 million in the next two years.

The Embassy of India, consulates in Shanghai and Guangzhou, under the guidance of Ministry of Commerce and Marine Products Export Development Authority (MPEDA) has been promoting Indian marine products in China and is engaged with various stakeholders, said an official statement. 

In order to pitch for India’s strength in this sector, the Embassy of India organized a promotional event and buyer-seller meet on marine products in collaboration with MPEDA on the sidelines of China Fisheries and Seafood Expo in the coastal city of Qingdao, which is also a major port of imports, it added.

The chairman of MPEDA, K.S. Srinivas, led a delegation of more than 40  Indian exporters and exporters associations for the expo which witnessed huge response from Chinese importers with more than 50 participants from 25 major importing companies had participated in this event. The CCPIT of Qingdao and CFNA partnered with the Indian Embassy for organizing the event, said the statement.

Meanwhile, MPEDA chairman had briefed about India’s strength in this sector with India emerging as the fourth largest exporters of seafood in the world, stating, “India is second largest aquaculture producer, third-largest fish producer in the world with exports of marine products worth USD 7 billion. China is a major importer of marine products with imports of around USD 12 billion.”

He also briefed about the efforts being made by India for ensuring the quality of its marine products. 

Speaking on this occasion, Prashant Lokhande, Economic and Commercial Counsellor of India Embassy, emphasized on the huge potential and set an ambitious target of achieving USD 2 billion exports in the near future. 

He assured all support to Indian exporters and China’s importers and thanked China’s Commerce Ministry and GACC for their support.

Embassy of India has been promoting various products such as Indian grapes, sugar, rice, pharmaceuticals, tea, oil meals, IT and ITeS in which India has proven global strength but little market share in China.