America is the largest market for India’s shrimp products. But amidst the uncertainty of President Donald Trump’s tariffs and compensation fare, the shrimp producers of India are now preparing a strategy to look for the country to take advantage of the rising domestic market. Experts believe that India’s shrimp market has such a capacity, which has not yet been used. In such a situation, it is beneficial for market products.
Ready-to-Eat Products Strategy
The domestic market in the Indian shrimp has received an increasing income, increasing health awareness and large population. Despite the previous attempts, a special campaign was not initiated to completely identify and develop this market. The newspaper The Hindu Businessline Kings Infra Chairman and Managing Director Shaji Baby John quoted Baby John, “We are giving us a new look to our business by targeting 50 percent of the domestic markets by displaying the Ready-to-cook and Ready-to-to-shrimp products.”
Sustainable C-Food Market
Referring to several reports, John said the process of fish and seafood in India could reach $ 21.04 billion. Of these, the organization sector of the domestic market is only three to five percent. The market is likely to increase CAGR 8.5 % over the next five years.
This time John has emphasized that Cold Chain facilities, connectivity facilities and distribution network is needed in India, thereby maintaining the quality of the se-food and its freshness. According to John, the central government is providing all financial assistance to strengthen the distribution network in the domestic market. But most of these funds end without understanding.
Supply chain network requirements
IPR Mohan Raju, president of the Pran Federation Federation of India, said that a completely dedicated supply chain network for a sustainable domestic market is required, which can replace the current network to eliminate large challenges such as supply and prices. The Raju said the federation had proposed to build farmers institutions in this direction.
In addition, cold chains, logistics networks and values are added and the frozen shrimp decor must be maintained for retail markets. The initiative should be supported by the central government, which also supports the state government. He believes that frozen shrimp are very capable in the domestic market and can maintain its hygiene and quality.
Request to lower the GST
Five percent of GST on frozen and branded S-Food products is more expensive. The GST Council has appealed to the Mohan Raju government to propose to the GST Council on his behalf for some time on the frozen Se-Food. It also increases the domestic market and helps the products. According to Aquacket Global’s Chief Global Officer Arpan Bhalerao, 40 percent of Indian shrimp are currently exporting to the US. For this reason, it is more likely to affect the tariff after the tariff. At the same time, he did not deny that the domestic market could play a big role.
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