The Narendra Modi government’s decision to allow 100% foreign direct investment in aquaculture has spread cheer in the country’s seafood sector, which is predominantly dependent on aquaculture for exports. Exporters reckon the advent of latest technology from foreign firms could trim production costs, raising the competitive edge of Indian marine products in the global market. Around 70% of the Rs 33,000-crore Indian seafood exports are from frozen aquaculture shrimps. The shrimp farms, concentrated in Andhra Pradesh and Tamil Nadu, largely depend on imported brood stock from regions like Hawai and Florida for developing seeds. “The foreign firms can now directly set up brood stock multiplication centres and produce genetically improved brood stock over 2-3 years. This could bring down the import cost substantially,” said L Satyanarain, president of All India Shrimp Hatcheries Association. The sector is expecting latest technology upgrades in the farm technology. Currently, China, Thailand, Indonsesia and some other southeast Asian nations have access to modern technology, which has helped them grow in the international market. “It will open up the sector to new avenues of financing and access to advanced international aquaculture and cage culture technology. Currently in India, aquaculture is based largely on shrimps and low value fish. This initiative by the government will allow us to expand the potential of genetically developing many more suitable species,” said Kamlesh Gupta, chairman of WestCoast group, a major exporter. For instance, India is still a marginal player in the cultivation of tilapia, one of the largest consumed fish, along with shrimps, tuna and salmon.
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