• Thursday, July 25, 2024

Business

UAE 9th biggest buyer of India’s $7.4b seafood exports

India shipped 1.78 million metric tonnes of seafood worth US$7.38 billion during the fiscal year 2023-24.

Representational Image (Photo by JOEL SAGET/AFP via Getty Images)

By: Shubham Ghosh

THE United Arab Emirates has become the ninth largest seafood export destination for India, D V Swamy, chairman of India’s Marine Products Export Development Authority (MPEDA), has said.

He added that the south Asian nation’s worldwide seafood exports touched an all-time high in volume during the financial year 2023-2024.

India shipped 1.78 million metric tonnes of seafood worth $7.38 billion (£5.87 billion) during the fiscal year 2023-24. Its financial year begins on April 1 and ends on March 31.

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Frozen shrimp remained the major export item in quantity and value. The Middle East as a whole accounted for 28,571 metric tonnes of this item, Swamy said.

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The top 10 markets together contributed 79.89 per cent of India’s seafood exports in US dollar terms in the financial year 2023-24.

The MPEDA, set up by an act of India’s Parliament in 1972, is a statutory body entrusted with the primary task of promoting the export of Indian marine products.

(With ANI inputs)

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