Why Shrimp Shares Are Seeing Record Surge After The Budget | Paisa Live

In the recent Budget, the government introduced several key measures for the shrimp farming industry, including a 5% reduction in customs duty and increased allocation for shrimp farming, marketing, and exports. These initiatives aim to boost the sector and enhance its global competitiveness. For FY24, India's seafood exports reached ₹60,000 crores, with shrimp exports comprising two-thirds of this figure. India currently holds a 20% market share in global shrimp exports, ranking just behind China. The government is preparing to expand this market share further by supporting the industry through policy changes and financial incentives, intending to strengthen India's position in the global seafood market and drive growth in shrimp exports.