Business Opportunities in India
Global campaign to achieve $2 billion seafood exports
Our Bureau
Date of posting: 18-09-07
      To achieve $2 billion seafood sales by 2008 and $6 billion by 2015, the Indian seafood export industry would launch a campaign to build brand equity in the U.S., E.U., and Japan. The Marine Products Export Development Authority (MPEDA) has appointed Lintas Personal as its consultant for the Rs 20-crore brand equity campaign. Indian black tiger prawns and fresh water prawns or scampi are the main items in the export basket that will benefit from the campaign.

      The strategy would be to penetrate new markets while strengthening the existing ones. Co-branding by small and medium units will be another strategy that will be adopted by the industry. The industry's main marketing event, India International Seafood Show, would be organised at Kochi in February 2008.

      The domestic seafood export industry is likely to achieve an export value of $2 billion in the current fiscal and $4 billion by the end of the 11th Plan in 2012. Addressing a press conference at Kochi, MPEDA chairman G Mohankumar said that seafood exports registered a 12.7% increase in dollar terms in 2006-07 and touched a level of $1,852.93 million. In rupee terms the exports stood at Rs 8,363.53 crore, registering a 15.4% increase. The quantity of exports increased by 19.6% to touch a level of 6,12,641 tonnes.

      Mohankumar said Lintas had been asked to study markets in the US, the European Union and Japan to identify specific areas where seafood products could make a big entry. The goal of the trade promotion body is to get into new markets on the back of growing global retail market. The campaign would help small and medium-scale producers access to major retail markets through a system of co-branding of their products with foreign companies.

      The Indian seafood industry will also look at the domestic market. A J Tarakan, president, Seafood Exporters Association of India (SEAI), said the country's seafood market was pegged at Rs 60,000 crore. Quality concerns and hygiene issues have made the MPEDA look at setting up Netfish Network - a society for fish quality management and sustainable fishing. The network would work with non-profit organisations and scientists at the grass-roots level.


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