Did you know that fishing supports the livelihoods of over 50 million people worldwide, with another 150 million employed in fishing-related industries? India, in particular, plays a significant role in the global fish export market, poised to generate over 476 billion INR in 2020 alone. With its fish export business ranking fourth globally, India exports fish and fish products predominantly to the United States, China, the European Union, Southeast Asia, Japan, and the Middle East.
In this blog post, we’ll delve into the process of Fish export from India, exploring seafood export opportunities, updated market insights, and essential data for aspiring exporters.
Is fish export a lucrative business?
Absolutely. Here are a few reasons why:
- Vital Food Source: Fish is a rich source of protein, vitamins, and minerals, vital for human development. The industry employs fishermen, traders, and dealers, contributing to food security and economic stability.
- Growing Demand: The global seafood market is projected to reach $150 billion, driven by increasing awareness of the health benefits of fish consumption. With fish always in high demand, the industry presents promising growth prospects.
- Government Support: Governments, including India’s, actively support fish exports through initiatives such as tariff rebates and tax incentives, providing a conducive environment for business growth.
According to Global Trade Data, the fish export business in India is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 8.81% from 2023 to 2028. This presents lucrative opportunities for entrepreneurs looking to tap into India’s thriving seafood market.
If you’re considering fish exports from India, here’s why it’s a strategic choice:
India’s Fish Export Market:
India has emerged as a key player in the global fish export market, generating over 579 billion INR in 2022 alone. The government is actively working to bolster fish exports, aiming to elevate India’s status as a major seafood exporter.
Market Insights:
In the fiscal year 2022–23, India set new records by exporting over 17 million metric tonnes of seafood, valued at $8.09 billion. The fish export market is expected to grow significantly, with projections indicating a rise to 31.7 million metric tons by 2028.
Fish Export Data:
Fresh chilled fish exports from India totaled 118.4K, with 356 Indian exporters catering to 1,722 buyers. India’s top export destinations for fresh chilled fish include the United Arab Emirates, the United Kingdom, and Saudi Arabia.
Seafood Export Data:
In FY 2022–23, seafood exports from India reached an all-time high, growing by 26.73% in quantity and 4.31% in value. The United States, China, the EU, Southeast Asia, Japan, and the Middle East are significant importers of Indian seafood, with frozen prawns being a top export item.
Top Fish Exporters in India:
Leading fish exporters in India include Avanti Feeds, BMR Groups, C Shore Foods, Coral Exports, Falcon Marine Exports, Jeelani Marine Products, JMJ Exports, Megaa Moda, Seven Seas, and Wiser Foods.
Starting a Fish Export Business:
To venture into fish export from India, you’ll need essential documentation such as an Importer/Exporter Code, Directorate General of Foreign Trade Registration, shipping bills, health certificates, and more. Proper registration and compliance with regulatory requirements are crucial for a successful export business.
Finding Importers:
Platforms like Eximpedia provide reliable data on global fish exports, seafood export trends, and dry fish export data. With accurate and up-to-date information, exporters can identify potential markets and streamline their export strategies.
In conclusion, fish export from India presents lucrative opportunities for businesses willing to innovate and embrace sustainable practices. With the right market insights and regulatory compliance, exporting fish to the global market can be a rewarding endeavor. For trustworthy fish export data and market insights, Eximpedia.app is your go-to resource. Contact us today for a free live demo and access structured, approved, and organized trade data.
