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Commerce Ministry fishes for biz

MUMBAI - India's sea food exports have risen by $500 million in the last four years - a growth scaled in the previous 10 years. At a little under $2 billion, that's a fraction of India's total exports of $125 billion.

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But sea food exports are hugely job generating, employing about 3 million people. About 55 per cent of those exports are of shrimp alone and that has the Commerce Ministry worried.

Says Minister Of State, Commerce, Jairam Ramesh, "To reduce dependence on shrimp, a major initiative for promotion of tuna is coming up and is located in the Andaman and Nicobar islands.

The other initiative is to increase value addition, currently at a measly 15 per cent.

An effort is also on to increase the size of seafood exports. For that to happen, more shrimp will have to be exported, but disease stands in the way.

Source: IBN Live