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India's seafood exports have surged by 30.81% over the past four years, reaching ₹61,043.68 crore in the 2023-24 fiscal year, up from ₹46,662.85 crore in 2019-20.
This growth is attributed to various government initiatives aimed at enhancing production and export capabilities, including investments in infrastructure and the reduction of import duties on key ingredients for seafood processing. The government has set an ambitious target of USD 7.86 billion for seafood exports in 2024-25, reflecting India's increasing competitiveness in the global seafood market[1][2][3].
Citations:
[1] https://www.taxmanagementindia.com/visitor/detail_rss_feed.asp?ID=27745
[2] https://pib.gov.in/PressReleasePage.aspx?PRID=2040868
[3] https://currentaffairs.khanglobalstudies.com/india-seafood-exports/
[4] https://www.exportgenius.in/blog/india-seafood-exports-will-increase-to-12-billion-dollar-by-2025-772.php
[5] https://timesofoman.com/article/147515-india-emerges-a-strong-player-in-the-global-seafood-exports
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