Indian Exports Expected to rise to $4 Billion by 2010

The export of marine products is expected to rise to $ 4 billion by 2010 as compared to the present $ 1.6 billion.

After releasing the figures of the Marine Product Export Development Authority (MPEDA) on Thursday, the Union minister of state for commerce, Jairam Ramesh said that the authority is preparing a programme to increase exports and are trying to make India a hub for seafood processing.

The government has also committed to increase employment potential to 4 million. He said that 3.5 million additional employment opportunities are to be generated in the next 5-6 years.

The focus is now expected to shift to newer varieties like tuna and scampi. The Centre also plans to expand marine activities to new areas like Gujarat, Orissa and Maharashtra.

Mr. Jairam has asked the chairman of MPEDA to start preparing a scheme to give concessions on diesel prices to the fishing sector.

According to him, the value-added items of the marine export sector which presently have a 10% share could be raised to at least 75% on going by the vision plan of the authority.

A total 5,12,164 tonne was exported during 2005-06 as compared to 4,61,329 tonne of the previous fiscal. Earnings increased to Rs 7,245.3 crore ($ 1,644.21 million) as compared to Rs 6,646.69 crore ($ 1,478.46 million) during the previous year.

The unit value was also increased, however marginally, to $ 3.21 per kg as against $ 3.2 last year.