Direction of trade and changing pattern of indian marine products exports

The present study was initiated with the objective of analyzing the export performance of marine products in India. The study is based on the secondary data i.e., quantity of export of marine products from 2005–06 to 2014–15 compiled from official website of Marine Products Export Development Authority of India. The structural change and direction of trade in marine products was analyzed using Markov Chain approach. The Cumulative Annual Growth Rate of export of marine products from India in volume and value terms is positive with 8.67 and 19.58 per cent during the period from 2005–06 to 2014–15. The increased export growth in marine products is mainly attributed its increasing demand from animal and human consumption, food processing as well as alternative purposes such as cosmetics, fishmeal and fish oil, bio active compounds, pharmaceuticals, marine protein and food processing aids and bi-products are used for valuable ornamentals. European Union, South East Asia and China are the stable importer of Indian marine products as reflected by the highest probability of retention was 79, 78 and 74 per cent respectively. Therefore, efforts are needed to promote exports to these countries by stabilizing the markets by supplying quality marine products and make its price competitive in the international market.