Indian Marine Products Export: Growth, Market Instability, And Forecast Analysis

Abstract

The marine economy for India means a vast ocean of economic opportunities playing an   important role in generating and sustaining livelihoods. India's Marine economy supports 95% of its business through transportation and contributes an estimated 4% to its Gross Domestic Product (GDP). Among these, the   marine fisheries sector plays a vital role in India's national economy in multiple ways, providing livelihood and contributing to economic growth, and generating employment opportunities. It is not only   providing job to about 16 million fisher folk and fish farmers at the primary but also contributing solving   food security problems and poverty reduction. In this paper, the primary focus will be on India's economic growth concerns in the marine  sector, namely fisheries. This study examines the export performance of marine fish from India from 2009-2021 using the panel data extracted from the official portal of Marine Products of the Export Development Authority (MPEDA). The study also aims to investigate the growth and instability of market in terms of quantity and value. Adding to these, the study is also a forecast of the marine product export in terms of amount and market needs.