India is the second largest producer of fish in the world after China and accounts for nearly 6% of global fish production. The fish production in India is likely to cross 12 million tonnes by 2015 from the current level of about 9.3 million tonnes.
India’s seafood industry has become one of the leading suppliers of quality seafood to all the major markets of the world. India has world class seafood processing plants that follow quality control regimes complaint to stringent international regulatory requirements. The export earnings in 2013-14 had reached an all time high of US $ 5 billion (about Rs.30213 crore). Vannamei shrimp, black tiger shrimp, cuttlefish, lobster, clams, fish fillets and squid are the major products for export.
There is a huge scope for investments in marine fish processing sector, cold storages and export of coastal fish for the private sector as it holds vast, untapped marine resources with a great export potential.