Two major forces in the seafood sector Japan and Korea have expressed interest in investing in value addition of seafood products in India, according to union commerce minister Nirmala Sitaraman.
Speaking at the inaugural function of the 20th India International Seafood Show being held at Vishakapattanam on Friday, she invited the trade members of both the countries to visit the aquaculture farms in the country,particularly Andhra Pradesh, which is leading in aquaculture production in the country. She said both the Centre and the Andhra Pradesh government are keen to increase the value addition of Indian seafood exports which have touched Rs 30000 crore annually. “They can bring the technology and best practices from the world over and implement it here in a cost effective manner,” she said. She said the government has extended the scope of the merchandise exports from India scheme (MEIS) by bringing certain seafood products under it. The total annual outlay under the scheme will be increased from Rs 22,000 crore by another Rs 1500 crore.