Aquaculture: Growing Trade And Its Opportunities In India

Mr. Arunmozhi Devan & Mr. Prethish Kumar, The Tamilnadu Dr. Ambedkar Law University, School of Excellence in Law – Chennai

ABSTRACT

The fisheries sector has been recognized for its contribution. Today, trade in aquatic products plays an important role in hunger eradication, health promotion, and poverty reduction by providing food and nutritional security to the great majority of the population. With the expansion of global aquaculture output, there has been an astonishing surge in trade in numerous aquaculture goods based on both low-value and high-value species at all market levels. Fish is a valuable traded commodity around the world, providing a significant source of foreign exchange earnings in addition to important contributions to job creation, income generation, and food security. One of the industries with the fastest growth rates worldwide is aquaculture. On one hand, most customers now have access to a wider range of food and seafood items, as well as an increasing number of suppliers. On the other hand, most primary producers have had the opportunity to select from a bigger pool of purchasers. As a result, there is a wider choice of options for meeting food demands and earning money. The increased number of trade options has had and will continue to have ramifications for the fisheries and aquaculture sectors. India offers tremendous prospects for sherries in both the marine and inland sectors due to its extensive coastal area. Aquaculture business advancements have already begun to expand into other areas. This paper aims to provide the vast trading opportunities in aquaculture, which are not known to the world, and also aims to provide some key points on how to improve aquaculture trading specifically in India.

Keywords: Aquaculture, Trade, Income, Fisheries, India.