Question
Consider the following about India’s marine
product exports in FY 2021-22. I. Canada continued to be the major importer of Indian seafood in value and volume term both. II. China emerged as the second largest seafood export destination from India in terms of quantity. III. Frozen shrimp is the major item of exports from European Union to India. Which of the above statement is/are correct?Solution
India shipped 13,69,264 MT of seafood worth Rs 57,586.48 crore (USD 7.76 billion) during 2021-22. During the FY 2021-22, the export improved in rupee term by 31.71%, in USD terms by 30.26% and in quantity terms by 19.12%. In 2020-21, India had exported 11,49,510 MT of seafood worth Rs 43,720.98 crore (USD 5,956.93 million). Frozen shrimp remained the major export item in terms of quantity and value. Frozen shrimp, which earned Rs 42,706.04 crore (USD 5,828.59 million), accounted for a share of 53.18 per cent in quantity and 75.11 per cent of the total dollar earnings. Shrimp exports during the period increased by 31.68 per cent in USD value and 23.35 per cent in quantity. As for overseas markets, USA continued to be the major importer of Indian seafood in value and volume term both with an import worth USD 3371.66 million, accounting for a share of 37.56 % in terms of dollar value. China emerged as the second largest seafood export destination from India in terms of quantity with an import of 2,66,989 MT worth USD 1,175.05 million, accounting for 19.50% in quantity and 15.14% in dollar terms. European Union continued to be the third largest destination for Indian seafood with frozen shrimp, the major item of exports, registering an increase of 29.11% and 37.09% in quantity and dollar value, respectively.
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