Billion-dollar catch: India has the potential to create an IPL out of aquaculture
It is heartening to note that 35,000-40,000 tonnes of shrimp are currently being exported to the US market following a pause in the 26% reciprocal tariffs levied by the US. However, it is important for the Indian shrimp sector to explore new opportunities by investing in shrimp farming in Central American countries. This would allow them to benefit from the lower US tariffs and gain a cost advantage in logistics. The increase in the US tariff on Ecuadorian seafood has resulted in a decline, while Chinese seafood exporters to the US are facing significant challenges, benefiting select Southeast Asian countries in the medium term for value-added shrimp and tilapia exports.Domestic urban and peri-urban markets are indeed responding to farmed shrimp consumption and must be necessarily serviced. However, it is essential to maintain a competitive edge in the export market by increasing market diversification and penetration, diversifying product composition, and attracting foreign investments for production to ensure a steady influx of foreign exchange. Corporate business houses must be invited and encouraged to take a long look at the potential of aquaculture, take initiative and lead the way. India has the potential to create an IPL out of aquaculture. Play it now. Dr M Krishnan is former Principal Scientist & Head, ICAR - Central Institute of Fisheries Education, Mumbai; and Dr Badri Narayanan Goplakrishnan is a Visiting Senior Fellow at CSEP, New Delhi. Views are personal.
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
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