India's marine exports to China heading for USD 1 bn mark

India's exports of marine products to China has tripled and touched almost USD 800 million in the first nine months of 2019, as per a data recently released by China's customs authority.

India's marine exports are expected to cross USD 1 billion mark by the end of this year.

A Chinese trade delegation had 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.

In order to pitch for India's strength in this sector, the Embassy of India orgsed 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.

MPEDA Chairman 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 compes participating in the event.

The CCPIT of Qingdao and CFNA partnered with the Indian Embassy for orgsing the event.

Srinivas briefed about India's strength in this sector with the country emerging as the fourth largest exporters of seafood in the world.

India is the second-largest aquaculture producer, third-largest fish producer in the world with exports of marine products worth USD 7 billion. On the other hand, China is a major importer of marine products with imports of around USD 12 billion.

The MPEDA chairman also spoke about the efforts being made by India for ensuring the quality of its marine products.

Speaking on the occasion, Prashant Lokhande, Economic and Commercial Counsellor of the Indian Embassy, emphasised 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.

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

( With inputs from ANI )