India's Trade Overview

EXPORT PROCEDURES AND DOCUMENTATION

IDENTIFYING PROSPECTIVE EXPORT PRODUCTS

In order to decide on a target product to export, parameters such as production/manufacturing capacity, per unit cost of production, cost comparison with competitors, tariff rates, if existing FTA, and Non-Tariff barriers needs to be compared. Example of two such products are given below

1. Product – 02023000 – Frozen boneless meat of bovine animal

Production Globally Production in India Potential market for India Global price stability Consumed within India Top importing countries globally Countries where India exports (tariffs faced by India)
68.3 MT 2.7 MT US$ 14.7 billion Price is stable with India supplies with US$ 2800-3200 PER UNIT 1.1 MT USA, China, Vietnam, Hong Kong, Egypt, Japan, South Korea, Russia, Israel, Taipei China, Malaysia, Indonesia Vietnam (13%), Egypt, Malaysia, Indonesia (5%), Saudi Arabia (5%), Iraq, Philippines (10%), Algeria (30%)
(Almost all economies which are top importers globally are missing in India’s export list.)

 On the demand side, with rising incomes in the developing world and an expanding youth population, food preferences are shifting towards a protein rich diet.
 Abattoirs conform to international hygiene standards, with zero hand-touch-processing and regular visits by halal inspectors from the importing countries.
 India needs to work on improving the standards so that we can capture markets of developed economies.

2. Product – 03061790, frozen shrimps and prawns, even smoked, whether in shell or not, incl. shrimps and prawns

Production Globally Production in India Potential Market for India Global price stability Consumed within India Top importing countries globally Countries where India Export (Tariff Faced by India)
N/A 426,500 MT 11.9 US$ Billion Price is stable with India supplies with US$ 2800-3200 PER UNIT 1.1MT USA, Vietnam, Japan, Spain, France, Italy, China USA, Vietnam (13%), Japan, UAE, UK, Netherlands, Belgium,

 India contributes 6.3% of the total global aquaculture production and ranks 2nd after China.
 The Indian fisheries Industry, valued at about US$ 15 billion, has emerged as a significant high-value contributor and key enabler of diversified Indian agriculture.
 India’s annual per capita shrimps and prawns consumption is estimated at around 6 Kg, which is low in comparison to the global per capita consumption average of around 18 Kg.
 Shrimps and prawns consumption alone in India was estimated at around 500,000 MT for FY 2015-16. More than 70 percent of the shrimp harvested is sold fresh; the rest is dried, smoked or processed.
 The domestic shrimps market, which receives more than 80 percent of production, is highly unorganized.
 Currently crushed ice is the principal means of reducing spoilage and the insufficient cold chain infrastructure is a major challenge for widespread distribution of fish and other aquaculture products across the country.
 In turn, limited availability limits consumption growth.
 Greater availability of seafood products in coastal regions naturally results in greater consumption, but so also does the growing awareness about the health benefits of fish: quick service and multi cuisine restaurants are promoting that awareness to drive consumption in those areas.

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