In a recent development, India’s seafood exports to Ukraine have seen a significant decline, dropping to USD 1.36 million during April-January 2022-23. This sharp decrease is attributed to the ongoing Russia-Ukraine conflict, which has disrupted trade between the two nations. This figure is in stark contrast to the USD 11.2 million recorded during the same period in the previous fiscal year, April-January 2021-22. The information was shared by Minister of State for Commerce and Industry, Anupriya Patel, in a written reply to the Lok Sabha.
Despite this setback, India’s overall seafood exports have demonstrated resilience and growth. The total seafood exports from India have risen from USD 6.66 billion in April-January 2021-22 to USD 6.86 billion in the corresponding period of 2022-23.
Furthermore, seafood exports to Russia have displayed an upward trend, reaching USD 112.53 million during April-January 2022-23, compared to USD 98.84 million in the same period the previous year.
Andhra Pradesh, a key player in India’s seafood industry, contributed significantly to the nation’s exports, accounting for approximately 35 percent of India’s seafood exports in the fiscal year 2021-22.
In a separate disclosure, Minister Anupriya Patel also revealed that as of the end of December 2022, India’s foreign exchange reserves stood at an impressive USD 562.72 billion, equivalent to 9.3 months of imports, indicating the nation’s robust financial stability.