Indian Shrimp Trade: Reflections and Prospects in the Post-WTO Era

Abstract

Indian fisheries sector in view of its potential contribution to national income, nutritional security, employment opportunities, social objectives, and export earnings plays an important role in the 50cio~economic development of the country. The marine products exports contributed a whopping 7245 crofes of foreign exchange to the exchequer during 2005- 2006, which is onethird of the total agricultural exports and 1.5 percent of the total GDP. Shrimps continue to be the predominant item in our. marine export claiming about 29 and 67 percent in quantity and value tenns share, respectively. Until recently, India depended heavily on one product (shrimp) and one market (Japan) for its marine products export and thus there is a need for product and market diversification.