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India’s Demand for Processed Seafood Grows Higher

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We all know India is one of the largest seafood producers to all the developed world markets, but the demand in the native country has never seen substantial growth. However, after many years, there is a rise in the requirements for the processed seafood.

As per Yogesh Gupta, Director, Megaa Moda, ‘India is a nation with a highly productive seafood industry and off late it is leading the agricultural exports too’. Under several government initiatives and complying with other specific seafood export policies, the Marine Products Exports Development Authority (MPEDA) claims that the industry is going to achieve the target of 10 billion USD by the year 2022.

India has a huge potential for fisheries because of the amazingly 8,129 km long coastline. Moreover, the nation also holds inland water resources, therefore, nowhere we can deny the grand scope of the market. According to Mr.S.Ramalingam, Director, Megaa Moda ‘the seafood sector is important for food production because it offers protein, healthy fats, and other nutrients such as fatty acids, omega 3, vitamin D, and calcium. The sector deploys14 million people for different activities like packaging, processing, and distribution.

With the growth of the seafood sector, other correlated sectors will also head to the path of development and growth. Seafood products have recently surfaced as the biggest group in non-farm exports from India. Out of all the risk faced by shrimp producing houses due to antibiotic deposits and unbalanced global shrimp costs, India was able to sustain the global status.

According to the Food and Agriculture Organization (FAO), India estimates for about 6% share in global seafood production and 7% dividend in world aquaculture/fish reproduction. It is proposed that the seafood production of the nation will touch 13.4 million MT by the year 2030. When it comes to trade, it is presumed that exports will grow at 61.2% by 2030, from 1.1 million MT in the year 2016 to 1.7 million MT in the year 2030 including imports.

In the year 2016-17, share for inland farming has reached 67% of India’s fish production. At present, the inland fishery generation is surpassing the production of marine with the states of West Bengal, Andhra Pradesh, and Kerala, who are the top by now.

Megaa Moda is claimed to be one of the Indian seafood exporters by Silicon India Magazine. They offer natural shrimps and has always produced organic products. Today, the company has developed and exports heavy volume shrimps to other countries.

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