According to the data provided by the Ministry of Commerce & Industry, India’s seafood exports rose by 4.31 per cent to ______ in 2022-23 on account of a jump in the shipments of frozen shrimp.

Solution

According to the data provided by the Ministry of Commerce & Industry, India’s seafood exports rose by 4.31 per cent to USD 8.09 billion in 2022-23 on account of a jump in the shipments of frozen shrimp.In volume terms, the exports increased to 17,35,286 tonnes in the last fiscal against 13,69,264 tonnes in 2021-22.Frozen shrimp exports increased to USD 5.48 billion in 2022-23. The sector accounts for about 41 per cent of India’s total seafood exports in volume terms.The US is the largest market of frozen shrimp, followed by China, the European Union, South East Asia, Japan, and the Middle East.The other segments which recorded a healthy growth in exports include black tiger, shrimp, frozen fish, frozen octopus, canned products, and frozen lobster.