India, "the second largest supplier of shrimps to USA"

 Marine Industry covers over 40% of total export revenue for India. Also, India was the largest exporter of shrimp to the United States. But now, India is losing its ground to Ecuador. As it became the largest exporter of shrimps to the USA. Reason being, the lower prices and duty fee.

According to the US import data reports, around 2.2 billion dollars of shrimps were exported by India to the USA in 2022. On the other hand, shrimp exports from Ecuador to the United States were estimated to be 2.7 billion US dollars as per our import export data reports.

As per India import export data records, other major markets for India's shrimp were China, European Union, Japan, Middle East and South East Asian countries. Indian marine products exports include frozen shrimp, tuna fish, squids, cuttlefish, dried brine, octopus, etc. For the fiscal year 2023, Indian shrimp exports market could seek a positive growth.

Indian SeaFood Market

India is the second largest marine export market along China and Japan. One of the important reasons behind this is 810 Kms of coastline area. Sea foods are the most important part of Indian cuisine. India averages 5.5 billion US Dollars sea food exports yearly. It contributes around 40% of India's total exports. Over the years Indian seafood exports are up by 13%.

According to the India customs data of Seafoods, around 10 billion US Dollars imports were recorded in the fiscal year 2022. The total export volume for these products was around 14 million tonnes. Last year, the total seafood exports totaled to be 8 billion US Dollars.

As per India exports by country, Mumbai, Goa, Kerala, Tamil Nadu, Gujarat and Andhra Pradesh are the major Sea food producing regions in India. India's top destinations for seafood exports were Asian, Middle Eastern Countries, United States, United Kingdom, China and European Union Countries. Gold Marine, Castle Rock, Britto, and E-Seafood exports were top Indian export companies of seafood.

 

India-US Trade Analysis

In terms of trade, India and the USA share a strong trade relationship. Experts predict the bilateral trade could hit 500 billion US Dollars by 2025. Earlier, the USA was the largest trading partner of India.

According to the US import export data, the bilateral trade between the two has reached 194 billion Dollars in 2022. As per the US import data reports, India exports to the US were around 80 billion US Dollars in 2022. While India import data suggests that India imports from the USA were estimated to be 51 billion US Dollars.

India's top export products include mostly precious stones, pharmaceuticals, garments, seafood, iron-steel, auto parts and electrical equipment. Whereas, crude oil, coal, gold, and chemicals are top imported commodities by India from the USA.

Grow your marine products exports business with Exim Trade Data reports

Exim Trade Data is the best global import export data provider company offering reliable data solutions for the import export businesses. Whether you have an import export business of marine products in India or in other countries, the global trade intelligence reports from Exim Trade Data could help business grow. As, you can explore opportunities in the global marine market and discover genuine buyers for your products. Through this platform, you can generate genuine business leads with minimal costing.