India’s marine sector exports rose by 16.18 per cent to USD 4.87 billion during April-October this fiscal mainly on account of healthy growth in non-US markets, including China, Vietnam, Russia, Canada and the UK, according to the commerce ministry data.
The exports to the US have been impacted because of 50 per cent tariffs on Indian marine products.
An official said that a noteworthy shift in trade patterns in the sector has been witnessed during the period.
The United States, traditionally India’s largest shrimp market, registered a 7.43 per cent decline in exports to USD 85.47 million.
“However, this shortfall was more than compensated by a spectacular rise in shipments to China, Vietnam, Belgium, Japan, Russia, Canada and the UK,” the official said.
These gains reflect both a diversification in export destinations and a structural shift in global sourcing trends, as buyers in Asia and Europe increasingly turn toward Indian suppliers for consistent quality and competitive …​India’s marine sector exports rose by 16.18 per cent to USD 4.87 billion during April-October this fiscal mainly on account of healthy growth in non-US markets, including China, Vietnam, Russia, Canada and the UK, according to the commerce ministry data.
The exports to the US have been impacted because of 50 per cent tariffs on Indian marine products.
An official said that a noteworthy shift in trade patterns in the sector has been witnessed during the period.
The United States, traditionally India’s largest shrimp market, registered a 7.43 per cent decline in exports to USD 85.47 million.
“However, this shortfall was more than compensated by a spectacular rise in shipments to China, Vietnam, Belgium, Japan, Russia, Canada and the UK,” the official said.
These gains reflect both a diversification in export destinations and a structural shift in global sourcing trends, as buyers in Asia and Europe increasingly turn toward Indian suppliers for consistent quality and competitive … ​Latest News [ SOBAN NEWS: International and National ]
