A Detailed Analysis on Marine Based Food Industry.

Sector- Agriculture.

Report submitted by
Name: -
Roll: - IS NO.: -
Registration no.: -
Institute: -Bengal Institute of Business Studie

Declaration
Page | 1
I, name hereby solemnly declare that the dissertation report
titled "An In-depth Analysis of Tea Brands in India" is the
product of my independent research and effort. This report,
submitted in partial fulfillment of the requirements for the
MASTER OF BUSINESS ADMINISTRATION degree in
BUSINESS MARKETING at VIDYASAGAR
UNIVERSITY, is entirely my original work and has not been
submitted, in whole or in part, for any other degree or diploma
at this or any other institution.

Furthermore, I understand and acknowledge that plagiarism,

in any form, is a serious academic offense and I have adhered
to all ethical principles of research and scholarship throughout
the development of this dissertation.

In witness where of, I have set my hand to this declaration on

Date: 3rd MARCH 2024 Signature of the Research Scholar:
…………………………
Name of Research Scholar:
Place: KOLKATA, W.B

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 To whomever it may concern
This is to certify that Reg. No. of 2023-2024. Roll No – IS NO.: -, a
bona field student of this college has completed his dissertation as per
guidelines, she has done this completely on his own and it is an
original work and not copied from any resource.

Thanking you,

Yours truly,

Assistant Professor
Bengal Institute of Business Studies

Acknowledgment

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I would like to express my thanks of gratitude to my guide as well as
Marketing Faculty Prof. ………………. for her valuable mentoring
and input who gave me the golden opportunity to do this wonderful
project on the topic entitled "An In-depth Analysis of Tea Brands in
India" Which also helped me in doing a lot of Research and I came to
know about so many new things. I am thankful to them.

Secondly, I would like to thank my parents and friends who helped me

finish this project within the limited time.

I am doing this project not only for marks but also to increase my
knowledge of tea brands in India.

Thanks again to all who helped me.

Signature of
Student

Declaration
I, Subham Hazra hereby solemnly declare that this dissertation work entitled “A Detailed
Analysis On Marine Based Food Industry” submitted by me is an outcome of my
independent and original work. This report submitted in partial fulfilment of the
requirements for the

Page | 4
MASTER OF BUSINESS ADMINISTRATION degree in BUSINESS MARKETING at
VIDYASAGAR UNIVERSITY, is entirely my original work and has not been submitted, in
whole or in part, for any other degree or diploma at this or any other institution.

Furthermore, I understand and acknowledge that plagiarism, in any form, is a serious

academic offense and I have adhered to all ethical principles of research and scholarship
throughout the development of this dissertation.

In witness whereof, I have sent my hand to this declaration on date: 1st April,2024.

Signature of the Research Scholarship:

Name of the Research Scholar: Subham Hazra

Place: Kolkata, WB.

Acknowledgement
I would like to express my sincere gratitude to all those who have contributed to the
completion of this dissertation on the detailed analysis of the marine-based food industry.

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First and foremost, I am deeply thankful to my dissertation advisor, whose guidance, support,
and invaluable insights have been instrumental throughout this research journey. Their
expertise and encouragement have been a constant source of inspiration.

I am also indebted to the numerous scholars, researchers, and practitioners whose work in the
field of marine science, economics, and sustainability has served as a foundation for this
study. Their contributions have enriched the breadth and depth of my understanding of the
subject matter. I extend my heartfelt appreciation to the participants and stakeholders who
generously shared their knowledge, experiences, and perspectives during interviews,
surveys, and discussions. Their willingness to engage in dialogue has provided invaluable
insights into the real-world complexities of the marine-based food industry.

Furthermore, I would like to thank my friends and family for their unwavering support,
understanding, and encouragement throughout this endeavour. Their patience and
encouragement have been a constant source of strength.

Lastly, I express my gratitude to the academic community, research institutions whose

resources and facilities have facilitated the completion of this dissertation.

This work would not have been possible without the collective contributions and support of
all those mentioned above. Thank you for being part of this journey.

Abstract
The marine-based food industry stands as a critical nexus between human sustenance and
oceanic ecosystems, encompassing a vast array of activities from fisheries to aquaculture.
This dissertation undertakes a detailed examination of the multifaceted dimensions that
define this industry, elucidating its economic, environmental, and social implications.

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Drawing upon a diverse range of scholarly literature, statistical data, and case studies, this
research endeavours to offer a comprehensive understanding of the marine-based food
industry's dynamics. Key focal points include the historical evolution of fishing practices, the
contemporary landscape of global fisheries and aquaculture, technological advancements
shaping production efficiencies, market dynamics and trade patterns, as well as regulatory
frameworks governing resource management and sustainability.

Moreover, this dissertation delves into the ecological ramifications of marine-based food
production, scrutinizing its impact on marine biodiversity, habitat degradation, and the
delicate balance of marine ecosystems. Special attention is paid to the challenges posed by
overfishing, bycatch, pollution, and climate change, alongside innovative approaches and
emerging technologies aimed at mitigating these threats and fostering sustainable practices.

Furthermore, the social dimensions of the marine-based food industry are critically
examined, including its role in food security, employment generation, and cultural heritage
preservation. Through qualitative analysis and stakeholder perspectives, this research
explores issues of equity, governance, and community resilience within coastal societies
dependent on marine resources. In synthesizing these various strands of inquiry, this
dissertation seeks to provide valuable insights for policymakers, industry stakeholders, and
scholars alike. By identifying opportunities for sustainable development, enhancing
resilience, and promoting responsible stewardship of marine resources, it endeavours to
contribute to the ongoing discourse surrounding the future viability and integrity of the
marine-based food industry in an era marked by profound environmental and socioeconomic
challenges.

Serial Number Contents Page Number

1. Title 1
2. Declaration 2
3. Certificate 3
4. Acknowledgement 4
5. Abstract 5

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6. Introduction 7-26
7. Literature Review 27-31
8. Research Objective/ Research 31-35
Gap
9. Research Methodology 36-38
10. Research Finding And 39-52
Analysis
11. Recommendation And 53-55
Suggestion
12. Limitations Of The Study And 56-57
Scope Of Future Research/
Further Studies
13. Conclusion 58-59
14. References 59
15. Appendix 60-63

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 Introduction

Marine Based Food Industry: India is the third-largest fish and aquaculture-producing
country. It accounts for 7.96% of the total global fish production. The industry employs more
than 28 million people in India.

The marine resources of India constitute a coastline of 8,118 km, an Exclusive Economic
Zone (EEZ) of 2 million sq. km, and a continental shelf area of 0.53 sq. km. The inland
resources include 0.27 million km of rivers and canals, 2.36 million hectares of ponds and
tanks, 3.54 million hectares of reservoirs, and 1.2 million hectares of floodplain lakes.

The national fish production for the year 2022-23 had been expected to touch or exceed 174
lakh tonnes (provisional figures), an 81% increase when compared to 2013-14.

In 2021-22, India's total marine and inland fish production stood at 16.24 million metric
tonnes (MMT), which includes 12.12 MMT and 4.12 MMT from the inland and marine
sectors, respectively. The fisheries sector plays a crucial role in the national economy and is
one of the key contributors to the country's foreign exchange earnings. In 2020-21, 66% of
the Marine Fisheries and 51% of the Inland Fisheries potential were harnessed. The overall
production of marine products in India has been growing consistently for the last ten years.
Total fish production grew from 8.66 MMT in 2011-12 to 16.24 MMT in 2021-22.

India mainly has eight major fish-producing states: Andhra Pradesh, Gujarat, Karnataka,
Kerala, Maharashtra, Odisha, Tamil Nadu, and West Bengal. Andhra Pradesh is the largest
producer of marine products with 2021-22 production at 4.8 million MT.

Export Trends: In 2021-22, the country exported marine products of quantity 1.36 million

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MT. The value of exports for the same year was US$ 7.76 billion. This is an increase of about
30% over the previous year and a great achievement considering the challenges posed by the
COVID-19 pandemic and other difficulties related to logistics.

India mainly exports frozen shrimps, fish, cuttlefish, squids, dried items, and live and chilled
items. Out of these, frozen shrimp is the largest exported marine product contributing to more
than 53% of the total quantity and about 75.11% of the total export value.

In 2021-22, the frozen fish, cuttlefish and squid contributed 6.08%, 3.61% and 4.94% of the
total marine products export value, respectively. The same contributed to 16.55%, 4.31% and
5.53% of the total quantity exported in the same year.

Marine exports from India are expected to reach US$ 14 billion by 2025. The Marine
Products Export Development Authority (MPEDA) has already proposed a roadmap to
achieve this target, which constitutes necessary steps to enhance production and promote
seafood.

MAJOR EXPORT MARKETS:

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India exports fish and fish products primarily to the following regions - the USA, China, the
EU, Southeast Asia, Japan, and the Middle East.

In 2022-23, with an import of US$ 2,632.08 million and a share of 32.51% in terms of dollar
value, the USA remained the largest importer of Indian seafood both in terms of value and
volume. With an import quantity of 4,05,547 MT, China stood in second position with an
18.63% share in terms of value, followed by the EU (15.61%), South East Asia (14.71%),
Others (8.44%), Japan (5.98%), Middle East (4.08%).

The EU remained India's third-largest export market for seafood, with frozen shrimp
continuing to grow in both quantity and value, respectively, by 29.11% and 37.09%.

reach about 106 countries Indian

seafood exports
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Pre- Covid Results:

Key Players Of The Processed Seafood Industry In India

Megaa Moda Private Limited:

Founded in the year 2011 by Mr. Yogesh Gupta and Mr. Shankar Ramalingam, Megaa Moda
is a name that resonates across the seafood industry, admired and respected for its unwavering
commitment to excellence and sustainability. Their unwavering dedication to quality has
earned them a reputation for offering the highest-quality shrimp products globally, setting
new benchmarks in innovation and technology.

They understand the importance of diversity, and that's why their range of shrimp products is
vast and includes Vannemei, Black Tiger shrimp, Freshwater Scampi, Pink shrimp, White
shrimp, Sea-caught shrimp, and more, available in various forms such as HOSO, HLSO,
EZPL, PDTO, PD, PUD, and Butterfly, as well as RAW FROZEN in IQF & Block form, and
BLANCH available in IQF form.

Their commitment to reliability and quality has resulted in long-term partnerships with
customers across the globe, including Japan, Vietnam, Thailand, Malaysia, Singapore, Hong
Kong, China, Korea, Netherlands, France, Belgium, The United States, Mexico, The United
Arab Emirates, Taiwan, and Brunei. They are honoured to have received recognition from top
quality control organizations such as IOS 9001:2015, MPEDA, EIA, and FSSAI, as well as
certifications from the US FDA, BAP, and BRC.

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As a THREE Star Export House recognized by the Ministry of Commerce and Industry, Govt.
of India, they are committed to delivering the best shrimp products to their customers
worldwide.

At Megaa Moda, they pride themselves on pushing the boundaries of the seafood industry.
Their portfolio of high-quality seafood products continues to expand and diversify, including
export-quality Prawns now available in India. They have also ventured into a new line of
convenience food, with ready-to-eat and ready-to-cook options for both the Indian and global
markets. Their range now includes Basa Fish, Hilsa Fish, Bhetki Fish, and a variety of other
Ready-to-Cook and Ready-to-Eat seafood items, all crafted with the same level of excellence
and attention to detail that has made them a leader in the industry. Their goal is not just to
meet but exceed the growing demands of their customers, while continuing to cement their
position as the premier seafood processor and exporter. At Megaa Moda, they don't just
maintain the status quo, but they constantly strive to go beyond and explore new horizons
within the seafood industry.

Vision

"To lead the global seafood industry by delivering exceptional quality products that surpasses
customer expectations, while maintaining their commitment to sustainability, ethical
practices, and environmental stewardship."

Mission

“They strive to achieve their vision by sourcing the best quality seafood, utilizing state-ofthe-
art technology and processes, and fostering a culture of continuous improvement. At the same
time, they recognize the importance of environmental stewardship and are committed to
promoting sustainable fishing practices and reducing their carbon footprint. Through their
long-term partnerships with customers and suppliers, they aim to drive positive change
throughout the seafood industry, promoting social responsibility and ensuring a healthy and
thriving planet for generations to come.”

Sustainability and Committed to a Greener Future

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Megaa Moda is more than just a shrimp processing and exporting company. They’re a team of
passionate individuals committed to sustainability and environmental responsibility. They
believe that their business can make a positive impact on the planet, while still providing
high-quality seafood to their customers.

One of their key sustainability practices is responsible sourcing. They work closely with local
fishermen who use sustainable fishing methods, ensuring that the seafood they process is
caught in a way that is environmentally friendly and economically viable for the fishing
communities. This helps to preserve the natural ecosystems and ensure that the seafood
industry remains sustainable in the long run.

In addition, they've implemented a closed-loop water management system that re-circulates

water used in processing and cleaning. This minimizes their water consumption and helps to
conserve this precious resource. Their commitment to renewable energy is also a top priority,
with solar panels installed on their premises to generate clean energy and reduce their carbon
footprint.

They're proud of their waste management practices as . They've implemented a waste

segregation system to separate different types of waste for recycling or safe disposal. This
helps to reduce the amount of waste generated by their operations and minimizes their
environmental impact.
Ultimately, they believe that their sustainable practices set us apart in the seafood industry. At
Megaa Moda, they're not just about providing delicious seafood to their customers - they're

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also committed to making a positive impact on the planet. Join us on their sustainability
journey and taste the difference with Megaa Moda.

Key products offered by Megaa Moda Pvt . Ltd.

Different types of shrimps like:

• Vannemei

• Black tiger prawns

• Fresh water scampi

• Sea tiger prawn

• Sea water pink

• Sea water flotheyr

• Sea water brown

• Deep sea shrimps

• Sea water karikadi

• Sea water cat tigerKing prawn

• White prawn

• Jawal.

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All in various categories like-

HOSO- Head on Shell on

HLSO- Headless Shell on

EZPL- Easy Peel

PDTO- Peeled Deveined Tail-on

PD- Peeled Deveined Tail-off

PUD- Peeled Undeveined

Butterfly.

All in block frozen, blanched and individual quick freezer (IQF) forms.

Apart from crustaceans the company is also aiming to expand its product portfolio with a new
line of convenience food, ready-to-cook and ready-to-eat options for both Indian and global
market. From Basa to Hilsa and Bhetki fish’s ready-to-eat and cook items like fish fry, fish
finger and cheese balls.

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IFB Agro Industries Limited- IFB Agro is one of the leading processor and exporter of
frozen seafood to a number of countries across the globe. Headquartered in Kolkata it sells its
products in block and iqf forms and also in ready to eat and ready to fry products. Apart from
marine products the company is also in the business of manufacturing marine, poultry and
cattle food supplements and manufacturing distilled alcohol for different brands. It also
manufactures dry ice for various industries and carbon-dioxide for soft drink companies.

Deeply committed to sustainable practices:

The Company’s constant endeavour is to meet today’s seafood requirements while protecting
the environment for tomorrow. We follow ethical business practices and our policies and
supplier requirements are constantly updated to reflect our Responsibilities towards
sustainability.

IFB is committed to fulfil all legal, national and international regulations in order to ensure
the safety and hygiene standards of the product. Raw materials of the highest grade are
always sourced from Aqua Farms registered with the CAA (Coastal Aquaculture
Authority).Our Quality Assurance involves each and every one of our employees in order to
achieve our goal of flawless quality.

Products Offered:

Page | 17
Black Tiger

Vannamei

Freshwater Scampi

Sea Catch

HL, PD, PDTO, HO, EZ,

Block, IQF, Semi IQF

IFB Nutrafeed for Shrimps

IFB Nutrafeed for Fish

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KNC Agro Limited- KNC Agro Ltd was established in the year 2014. It is a very modern
shrimp processing plant in East Medinipur Dist of West Bengal, India. This ultra-modern
plant is equipped with adequate missionary and infrastructure capable of handling up to 80
metric tons of shrimp raw material per day. The plant is ideally located in the midst of
Aquaculture as well as wild-caught shrimp resources. By virtue of its location, the plant can
operate throughout the year without compromising on the freshness and quality of Raw
material as well as finished product. Apart from marine products KNC agro brands Rekha
hotels and resort in Digha and HEROCKONA Pvt. ltd a company which sells shrimp feed
and supplements.

The Group was founded and led by Mr.Mamrej Ali, assisted by group of directors and
executives with decades of experience in shrimp business.

The Group has invested about 10 million USD in the business and produced 8000 Mt of
shrimp in year 2014 and expected to produce 12000 MT of in the year 2015. About 800
regular and experienced females and males workers for the group.

The company has a fleet of insulated and reefer trucks to transport Raw material and finished
product. The Group started shrimp processing and export way back in year 1998 as Nezami
Rekha Sea Foods Pvt.Ltd in Kolkata in a leased facility and went on to commission own
processing plant in Kolkata in the year 2008. This facility is located in Unit No.10 of Benfish
Complex, International Processing center.

In addition to Nezami Rekha Sea Foods, the KNC Group include other business interests
Rekha Hotel which is a resort hotel at Digha beach of west Bengal.

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Shrimp Feed distribution by sister company HEROCKONA Sea Foods Pvt.Ltd.

200 Hectares of owned and 3000 Hectares of franchised shrimp farms by KNC.

10 Fishing boats owned by Nezami Rekha and 100 boats are contracted for exclusive supply
of 2000 MT of Seacaught shrimp per annum.

Brands: REKHA – For Black Tiger Prawns extensive traditional material (Kolkata plant
produce)

Products: Mondon (Black Tiger)

Vannamei

Wild (Mostly Tiger’s, Whites,Pinks)

Head-on

Headless

Easy peel

PD tail on

PD

PUD

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Pasupati Aquatics- From humble beginnings in 1994, in the city of Contai and its adjoining
areas of District – Purba Mednipur, KASTURI AQUA LIFE PRODUCTS PVT LTD, has
grown to be industry leaders in the shrimp farming and export sector. Under the able
leadership of its Chairman, Mr. Chintamani Mondal, the group has been credited as the
pioneers of Black Tiger and Vannamei cultivation in India. Mr. Subhajit Mondal, son of
Mr.Chintamani Mondal joined the company and established the export house PASUPATI
AQUATICS PVT LTD.

Kasturi shrimps is ASC, US-FDA, and BAP certified frozen shrimp supplier, and one of the
biggest quality Shrimp exporter from INDIA. Kasturi shrimps has certificates to export
frozen, Raw, semi processed and processed shrimps all over the world, and counts among
the best and recognized Suppliers, Wholesalers, and Exporters of Good quality frozen Shrimp
species from India.

Pasupati Aquatics Pvt Ltd is vertically integrated and can boast of total traceability with its
farm to fork program. We are supplying seed, probiotics, feed with zero antibiotics and our
own controlling system. Now we have the ASC approved farms with COC factory facility.
We are also increasing our own farming to increase the productivity.

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Our endeavor is to be close to our customers, understand and serve them better. We believe in
long term business relationship and try our best to ensure that good quality product with
required sizes is shipped at the correct price within the agreed delivery time.

Quality policy:

We believe in ‘Quality Through Control‘, which is the underlying principle behind our
processes. We strive to achieve consistency in delivering superior quality products by
implementing a system of control at all points of the manufacturing process.

Vision:

To maintain our leadership in the market as a manufacturer and supplier of the best quality
seafood with setup of processing plant in advanced technology.

Mission:

To be the most reliable and competitive seafood manufacturer, produce the best quality frozen
seafood globally and establish long lasting relationships.

Focus:

Hygiene:

At Pasupati, we believe it is our responsibility to deliver fresh products to every client every
time. We strive to uphold this commitment made to our customers by taking an honest
approach without any short cuts. Our reputation is only matched by the standard with which
we maintain the quality and cleanliness of our facilities.

Pro-Change:

At Pasupati, we have a Pro-Change attitude which we have carried forward since our
inception. We constantly make efforts to update our methods with the times. This attitude is
central when taking and dissecting the feedback we get from our clients in a constructive
manner.

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Products:

Block Frozen:

Kasturishrimps provides the following regular products in Block Frozen..!!

Eazy Peel Vannamei Shrimps

Eazy Peel Black Tiger Shrimps

Black Tiger – Pulled Veined

Head On Vannamei Shrimps

Vannamei – PDTO Shrimps

Headon Black Tiger Shrimps

Headless Vannamei Shrimps

Headless Black Tiger Shrimps

Vannamei Pud Shrimps

Black Tiger Pud Shrimps

Peeled & Deveined (Vannamei)

Peeled & Deveined (Black Tiger)

P&D Back Cut

Vannamei Pulled Veined (Pvpd)

Semi IQF:

Kasturishrimps provides following regular products in Semi IQF..!!

Head on Semi IQF (Vannamei)

Headless Semi IQF (Black Tiger) Headless

Semi IQF (Vannamei)

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Head On Semi IQF (Black Tiger)

IQF:

Kasturishrimps provides the following regular products in IQF..!!

Peeled and Deveined Tailon (PDTO)

Pulled Vein (PV)

Butterfly

Raw Headless IQF

Raw Peeled & Undeveined

Eazy Peel IQF

Peeled and undeveined (PUD) Cooked

& Blanched:

Kasturishrimps provides following regular products in Cooked or Blanched..!!

Salad Shrimp Headon

Cooked

Headless Cooked

Cooked Pud

Cooked PD Tail On /Tail Off

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ITC Agri Business - ITC's pre-eminent position as one of India's leading corporates in the
agricultural sector is based on strong and enduring farmer partnerships that has revolutionized
and transformed the rural agricultural sector. A unique rural digital infrastructure network,
coupled with deep understanding of agricultural practices and intensive research, has built a
competitive and efficient supply chain that creates and delivers immense value across the
agricultural value chain. One of the largest exporters of agri products from the country, ITC
sources the finest of Indian Feed Ingredients, Food Grains, Marine Products, Processed Fruits
& Coffee.

ITC Agri Business is one of the leading domestic players and exporters of numerous
agricultural commodities. It works with farmers to improve the productivity and quality of
various crops and sources the finest of Grains, Oil Seeds, Pulses and a range of value-added
agri products such as Processed Fruits, Coffee and Shrimps across multiple geographies in
India. Backed by decades of expertise, the business deploys customised infrastructure and
technology to supply these products to discerning customers in India and over 60 markets
worldwide.

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Products:

ITC MasterChef Frozen Prawns ( Jumbo, Large, Medium, Small) ITC Master Chef Frozen
Medium Prawns brings the world’s favourite seafood to your homes, at your
convenience. Hygienically processed and thoroughly cleaned, these freshly frozen prawns are
ready to be highlight of your day! Individually Quick Frozen within 15 hours of catch to
maintain their freshness, ITC Master Chef Frozen Medium Prawns deliver an unmatched
quality to our consumers. Bid farewell to the cleaning, deveining and all other wastage
because ITC Master Chef Frozen Medium Prawns give you juicy, consistent sized medium
prawns.

ITC Master Chef Frozen Medium Prawns undergo up to 243 individual tests that certify their
safety, authenticity and quality. Each individual piece of ITC frozen medium prawns is safely
processed, de-shelled and deveined, making them free from any impurities. They do not
contain any added preservatives, colouring or flavoursThis pack of ITC Master Chef Frozen
Medium Prawns weighs 200g, and contains approximately 35-45 pieces per pack.ITC Master
Chef Frozen Medium Prawns meet the hygiene and safety standards of regulatory bodies in
Europe, America, Japan and most importantly, India. Proudly bearing the hallmark of Super
Safe Prawns, ITC takes a considerable amount of care and precision to maintain the high
quality of our medium frozen prawns. In addition to safety and impeccable hygiene, ITC
Master Chef Medium Prawns are Individually Quick Frozen to prevent clumping and
bruising of the prawn meat. The IQF technology also preserves the freshness of these medium
frozen prawns by freezing them within 15 hours of harvest. This prevents any biochemical
activity, and decay, locking in the freshness of your beloved medium prawns until you are
ready to cook them.

Page | 26
 Competitive Advantage Of Three Major Companies

Megaa Moda: The company’s revenue increased to Rs 204.85 Cr in FY2022 as against Rs

186.85 Cr in FY2021 and Rs 197.37 Cr in FY2020, thereby registering an y-o-y growth of

10 per cent. Further, the company has achieved revenues of around Rs.128.47 Cr till six

months ended September'22

(Provisional). The increase in revenue in FY2023 is primarily on account of increased

demand backed by penetration into new geographies such as Greece, Luxembourg,

Portugal, South Africa, etc.

The operating margin of the company moderated to 6.56 per cent in FY2022 from 7 per

cent in FY2021 mainly due to increased freight costs. The PAT margin stood at 2.48 per cent
in

FY2022 as compared to 2.41 per cent in FY2021. The ROCE levels stood comfortable at
11.59 per cent in FY2022 as against 11.15 per cent in FY2021. Going forward, it is

expected that profitability margins of the company will improve as the freight charges have

come down as compared to FY2022.

IFB Agro: IFB is a major player in the seasonal marine foods business (primarily prawns

which constitute 90% of the total marine foods business of the company) in West Bengal

with presence in domestic & export markets, and the feeds business. In the domestic

market, the company has tie-ups with well-known brands like Le Meridien, Jaypee Hotels,

The Leela, Maharaja’s Express, Mainland China, Marriott and Taj Hotels, which would

continue to support business growth going forward.

IFB also exports its tailor-made products across geographies like the US, Europe,

Japan, Australia and the Middle East, to suit the customers' needs. The feeds

Page | 27
division distributes feeds from C.P. Group of Thailand and supplies farmers with

various types of soil and water probiotics and supplements, for healthy and

sustainable growth of shrimps. The company also operates "Aqua Shops" which

have inputs required for aqua culture, like nets, aerators, chemicals for soil and

water etc. With the overall global economic growth and better demand for frozen sea

food, we expect the marine products division to report a 15% CAGR over FY2013-

15.

ITC MasterChef: ITC is looking to garner up to 20 per cent of the Rs 7,400-crore frozen
food market in India in next three years with the firm expanding its offering in the category.

"The market is very small compared to its potential. The idea is if it is growing at 17 per cent
how can we accelerate it? When we are growing at 100 per cent, it will definitely grow," he
said.The company has introduced over 50 different frozen food products under ITC Master
Chef brand. These include a variety of Indian flavours such as 'Mumbai Vada Pops', 'Rajmah
ki Galauti', 'Chicken Galauti', 'Falafel Kebab', 'Achari Beetroot Kebab', among others.

Madan said,"These items are now available in 60 cities under the food service portfolio and
11 cities in retail outlets. In the next three years 60 will go to 100 and beyond and 11 will go
to about 30."

The focus is on expanding penetration of the category and dispel the myth about frozen foods
not being healthy in consumers' mind, he said. To begin with, the company is looking at
metros and urban areas for these products but these will also be made widely available to
consumers and food services segment, including restaurants, cafes and pubs across India,
including tier II and III cities, he added.

ITC has partnered with American firm OSI and is utilising the latter's manufacturing facilities
in India to produce these items.

Page | 28
 Literature Review
Published in Business Standard E-Newspaper, Press Trust Of India, on 03 April
2024.

'India aims to increase seafood exports to Rs 1 trillion in next 2 years'

Indian shrimp exporters follow a robust regulatory and safety regime, as it helps them to ship
quality marine products to developed regions like the US and Europe, a senior government
official said on Wednesday.

India is aiming to increase seafood exports to Rs one lakh crore in the next two years by
increasing its processing capacity and shifting to higher value-added products, the official
added. Debunking certain reports of poor working conditions and safety standards, the
official said India's 548 seafood units are regularly inspected and monitored by various
government agencies.

"These units follow world-class quality and standards, and the major export destinations are
developed nations," the commerce ministry official said.

Some reports that are alleging food safety and bad labour conditions in the Indian shrimp
industry are wrong and baseless, the official noted.

All units are registered with MPEDA (Marine Products Export Development Authority) and
FSSAI (Food Safety and Standards Authority of India), and approved by EIC (Export
Inspection Council) as mandated by the law.

The production and processing systems are regularly monitored by regulatory agencies in
India and are subjected to audits by inspectors of the US FDA (Food and Drug
Administration), European Commission, GAC of China, Export Inspection Agency, MPEDA,
etc, in addition to scores of private and certification audits.

The pre-processing and processing units follow a HACCP (Hazard Analysis and Critical
Control Point)--based food safety management system as per the US Code of Federal
Regulations.

To promote the safety of products, the usage of pharmacologically active substances has been
banned in aquaculture since 2002.

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The national regulations and monitoring measures like the National Residue Control Plan,
ELISA screening labs, in-house labs, and pre-export checks ensure that the food safety
hazards, including antibiotic residues, do not enter the product value chain and pose any
consumer health risk.

India achieved record exports of seafood in terms of volume and value by shipping 17,35,286
tonnes of seafood worth Rs 63,969.14 crore (USD 8.09 billion) during 2022-23.

Frozen shrimp remained the major export item in terms of quantity and value, and the US and
China turned out to be major importers of Indian seafood.

Frozen shrimp, which earned Rs 43,135.58 crore (USD 5,481.63 million), retained its
position as the most significant item in the basket of seafood exports in 2022-23.

It also accounted for a share of 40.98 per cent in quantity and 67.72 per cent of the total
earnings in dollar terms.

The overall export of frozen shrimps during 2022-23 was pegged at 7,11,099 tonnes. The US
imported 2,75,662 tonnes of frozen shrimp, followed by China at 1,45,743 tonnes.

During April-February this fiscal, marine products' exports, however, dipped by 7.5 per cent
year-on-year to USD 6.8 billion.

The US is the single biggest market taking in USD 2.4 billion out of USD 5.6 billion worth of
shrimp that left Indian shores.

Indian shrimp has 40 per cent of the US market. A big chunk of Indian shrimp that makes its
way to the US gets processed in some Latin American nations. India wants to do that
processing locally to capture the higher value of exports.

There are around 1 lakh shrimp farms in India most of which are in Andhra Pradesh.

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Published in the International Institute For Sustainable Development, by
Parashar Kulkarni, Consumer Unity and Trust Society (CUTS), December 2005.

Overview of the Indian seafood industry:

With an annual fish production of approximately six million tons in 2003, India ranks fourth
in global fish production and second in aquaculture. (Annex 1 lists the state-wise fishermen
population in India, while Annex 2 lists the built up capacity of the seafood industry in select
states.)

In this research we exclusively study the marine fisheries sector. The seafood world market
has doubled within the last decade reaching US$49.32 billion. India’s share in the world
seafood market is 2.4 per cent. The growth of fish production in India has been labelled the
“Blue Revolution” by the Indian Council of Agricultural Research since fish production
increased from 0.75 million metric tons in 1951 to 6.1 million metric tons in 2003. In 2002–
03, marine product exports increased to all time highs in volume and value, with actual export
of 467,297 metric tons valued at Rs. 68,810 million or US$1.43 billion, representing a unit
value increase of 3.4 per cent over the previous year. Frozen shrimp continued to be the major
item, contributing 66.97 per cent of India’s total marine product export. The share of frozen
fish (comprising of ribbonfish, pomfret, tuna, fish loins and steaks) in 2002–03 was 42.01 per
cent in volume and 12.23 per cent in value. In 2001–02, it was 41.22per cent in volume and
11.97 per cent in value. In 2002–03, export of cephalopods, especially cuttlefish, grew to
35.37 per cent in volume and 48.92 per cent in value. The export of frozen squid also
registered a growth of 16.59 per cent in value over the previous year. However, there was a
shortfall of 4.91 percent in volume.

The U.S. emerged as the largest market for Indian marine products during 2002–03 relegating
Japan to second place. The U.S. share was 13.21 per cent in volume and, 29.81 per cent in
value, representing an export growth of 25.82 per cent and 44.30 per cent in volume and
value respectively. Japan’s share was 11.75 per cent in volume and 22.30 per cent in value,
representing a shortfall in exports to Japan of 15.39 per cent and 15.70 per cent in volume and
value respectively. Export to EU countries in 2002–03 registered a growth of 14.50 per cent
in volume and 21.21 per cent in value compared to the year 2001–02. The EU accounted for
20.23 per cent and 20.18 per cent in volume and value respectively. China was first in volume
contributing 36.55 per cent of total exports from India, however, China’s value share was

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only 11.08 per cent. This was mainly due to the export of low-valued items. Chennai,
Mumbai, Kerala and Vishakapatnam are the four biggest seafood-exporting ports in India
with 30, 13, 10 and eight per cent share by value and 11, 23, 12, and 21 per cent by volume
respectively. In 2002–03, Kerala led all states in the number of exporting companies at 287,
followed closely by Tamil Nadu at 286 and Maharashtra at 268.

The Marine Products Export Development Authority (MPEDA) is the government agency for
export promotion as well as a primary source of information for social, economics, legal and
regulatory environments in the global marine product market. Barely five per cent of India’s
seafood exports are in processed form. Most exports are in the form of frozen fish. Also, the
Indian brand does not exist in northern markets. In fact, more than 60 per cent of India’s
exports to south-east Asia are re-exported after processing. The final consumers of Indian fish
in the north are not aware of the origin of their fish. The fish market is characterized by
uncertainty, though more pronounced in supply than demand. Fish as a depleting commodity
and the increased severity of domestic regulations on excess fishing have made supply
conditions more irregular.

However, the unorganized state of the suppliers, their inability to form a cartel similar to the
oil cartel and the dependency of several poor southern countries on fish as a valuable foreign
exchange earner have relegated southern seafood exporters to price takers. They are unable to
charge higher prices in spite of rising costs of fuel, labour, maintenance and basic necessities.

The global seafood market is a complex system of trade and sustainability issues. Exporters
must deal with over-fishing; environmentally-harmful fishing practices; capacity
management; international fishery resources management; trade in endangered species;
nontariff barriers; interlinking of the domains of the World Trade Organization; domestic
regulations; and the UN and other international treaties. Indian seafood exporters face several
hurdles due to the changing regulations in different countries.

In India, jurisdiction is shared between the central government and state government.
Fisheries are a state subject, hence state governments are responsible for the development and
sustainability of the fisheries sector. “In recent years in India, the major thrust in fisheries
development has been on optimizing production and productivity, augmenting export of
marine products, generating employment and improving the welfare of fishermen and their
socio-economic status.”3 Fishing efforts are largely confined to the inshore waters through
artisanal and mechanized sectors. About 90 per cent of the present production from the
marine sector is within a depth range of up to 50 to 70 metres and the remaining 10 per cent
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from depths extending up to 200 metres. While 93 per cent of the production is contributed
by artisanal and motorized sectors, the remaining seven per cent is contributed by deep sea
fishing fleets confining their operation mainly to the shrimp grounds in the upper east coast.

Research Objective/Research Gap

Fish consumption in India: Patterns and trends:

The rise in household incomes and urbanization has brought about significant changes in
people’s lifestyles, including their dietary habits. Increasing awareness of health and wellness
has led many individuals to shift toward healthier food options, including sh. Nonetheless,
the ne balance between future supply and demand for fish in India will depend on several
factors, including availability, accessibility, affordability and acceptability. Traditionally, the
growth of the fisheries sector has been measured by focusing on fish production and supply,
while consumer demand for fishery products has been given lower importance at the level of
government programs and policy. However, with rapid shifts in the food habits and demands
of consumers, it has become imperative to understand markets and consumer behaviour in
order to make informed decisions on strategic approaches to fish production. Therefore, a
paradigm shift is necessary for our national strategy and action plan. This requires moving
away from the conventional forward link of a “production to consumption” or “farm to fork”
approach to adopting a more consumer-centric backward link of a “consumption to
production” or “fork to farm” approach.

Traditional fish market systems existing both in rural and urban areas of India have played a
significant role in influencing fish consumption. The domestic fish market is evolving to
focus on freshness, product diversification, the cold chain, hygiene and food safety. In India,
all market actors involved in the food supply chain are required to obtain a Food Safety and
Standards Authority of India certificate to operate their businesses. Along with availability
(total production), there is a need to focus on accessibility, affordability and acceptability.
Accessibility concerns the distance of fish vending stalls from customers and presenting the
fish in different forms and styles according to customer demand, while affordability centres
on the different price ranges according to the spending power of customers, and acceptability
on such factors as taste, flavour, colour, shape, size, and the presence of spines. The micro
picture of the fish consumption scenario in the country is incredibly complex, as it is

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influenced by various social, economic, environmental, religious and gender norms.
Understanding the complex behaviour and preferences of fish consumers throughout India
would be the first step toward adopting effective fish production, marketing and policy
strategies.

Key findings for India from 2005 to 2021:

• Population and economy - The 20.7% increase in India’s population, from 1.11 billion to
1.34 billion, is equivalent to one and a half times the population of Bangladesh.
• 2. The per capita GDP in constant terms doubled from INR 53,478 to 108,645. During
the same period, the PFCE, which indicates the purchasing power of people, tripled from
INR 18,584 to 61,594

Fish production

1. Fish production increased 115%, from 6.577 to 14.164 million metric tons. Meaning,
7.587 million metric tons of fish were added to the Indian fish basket, with a CAGR of
5.63%.

2. Of the total fish production, India’s domestic market consumed 5.415 million metric
tons (82.36%) in 2005–2006, 9.277 million metric tons (86.2%) in 2015–2016 and 11.848
million metric tons (83.65%) in 2019–2020. The rest was used for non-food purposes and
exports.

3. There was a rapid rise in the quantity of imported fish and fishery products from the
international market for consumption within the country. These increased 543% over the
timeframe, with a CAGR of 12.84%, from about 14,000 t in 2005–2006 to 52,000 t in 2015–
2016 and 76,000 t in 2019–2020.

4. Considering both locally sourced and imported fish, the total quantity of fish
consumed in the domestic market increased 120 % , from 5.428 million metric tons to
11.924 million metric tons , for an overall ad d i t ion of 6. 496 million metric tons.

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Per capita fish consumption

1. Annual per capita fish consumption increased from 4.9 to 8.89 kg, an increase of 3.99 kg
(81.43%) with a growth rate of 4.05%.

2. Among people who eat fish, per capita annual fish consumption increased from 7.43 to
12.33 kg, an increase of 4.9 kg (66%).

3. Among the category of lower-middle income countries (LMICs) of the World Bank, India
showed a relatively higher jump in per capita fish consumption (60%) when compared to
the group’s average (45%). However, India’s per capita consumption remained far lower
(7.89 kg) than the group average (14.94 kg). This shows that India has tremendous
potential to catch up with other LMICs in this area.

4. The CAGR of per capita fish consumption within India was 4.05% over the 15-year
timeframe. If the same rate is maintained over next 25 years, per capita fish consumption
is expected to reach 19.8 kg in 2029–2030, 31.7 kg in 2039–2040 and 41.29 kg in 2047–
2048, the centenary year of India’s freedom. At the same time, estimated fish demand for
human consumption is expected to reach 29.6 million metric tons, 51 million metric tons
and 68.1 million metric tons, respectively.

Fish-consuming population

1. The proportion of people eating fish increased from 730.6 million (66%) to 966.9
million (72.1%), an increase of 236.3 million (32.34%).

2. The proportion of people eating eggs increased 7.35 percentage points, followed by fish
(6.1 percentage points) and chicken or meat (5.45 percentage points)

3. In 2019 – 202 0, 5.95% of people ate fish daily, 34.8% did so at least once in a week and
31.35% only occasionally.

4. Throughout India, there was a clear trend in people eating fish more frequently. The
percentage of people eating fish occasionally dropped 4.9 percentage points, while those
eating fish weekly increased 11.3 percentage points. However, there was no significant
change in those eating fish daily, only a slight drop of 0. 3 percentage points.

5. M e n ate fish mor e than wo m e n did. According to NFHS -5, 78.6% of men and
65.6% of women consumed fish.

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6. Overall, there was an increase in the percentage of men (9.1 percentage point s) and
women (3.1 percentage points) eating fish. In general, there was shift toward weekly fish
consumption among both genders.

7. The proportion of the population eating fish at least once a week was higher in urban
(42.7%) than rural areas (39.8 %).

8. Fish lagged behind other non-vegetarian foods as the favourite food among both urban
and rural populations. By the end of the timeframe for this study, the gap between those
eating fish and those eating fish, chicken or meat was 12.75 percentage point s higher in
urban areas and 9.3 percentage points in rural areas. This could mean that there is further
scope to popularize fish among the non -vegetarian population by improving the
acceptability and consumption of fish

9. The percentage of India’s population who ate fish increased at a higher rate in rural than
urban areas. Those eating fish at least once a week increased 11.85 percentage points in
rural areas and 9.55 percentage points in urban areas.

10. The gap in fish consumption between rural and urban areas narrowed from 5.15
percentage points to 2.85 percentage points.

11. Older age groups preferred non-vegetarian foods, including fish, slightly more than
younger age groups.

12. Among age categories, 42% of those ages 30–39, 41.6% ages 40–49, 40.9% ages 20–29
and 37.3% ages 15–19 ate fish at least once a week.

13. Overall, fish consumption among all age groups increased 10 to 12 percentage points.

14. As wealth increased, the percentage of the population eating non-vegetarian food at least
once a week also increased. There was a linear rise in the percentage of those eating fish
in the lower, middle and fourth wealth quintiles in NFHS-3 and NFHS-4. In NFHS-5,
however, this trend was reversed.

15. The proportion of the population eating fish at least once a week steadily increased
across all wealth categories. This increase was more significant in the lower wealth
categories than the higher ones, at 20 percentage points for the lowest, 14 for the second,
8 for the middle, 8 for the fourth and just 1 for the highest quintiles.

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Spatial distribution of fish consumption in India

1. By the end of the timeframe for this study, the proportion of those eating fish was highest
in Tripura (99.35%) and lowest in Haryana (20.55%).

2. In general, the northeastern (>95%) and eastern states of Tamil Nadu, Kerala and Goa
(>90%) had the highest percentages of people eating fish. Northern states such as Punjab
(26.45%), Haryana (20.55%) and Rajasthan (22.5%) had lowest.

3. The proportion of the population who ate fish daily was highest in Kerala (53.5%),
followed by Goa (36.20%), West Bengal (21.90%), Manipur (19.70%), Assam (13.10%)
and Tripura (11.50%). Among those eating fish at least once a week, however, the
proportion was highest in Assam and Tripura (69% each) followed by Odisha (66.8%),
West Bengal (65.75%), Arunachal Pradesh (65.25%) and Tamil Nadu (58.2%).

4. There was a remarkable increase in the proportion of people eating fish in most of the
states, led by Jammu and Kashmir (20.9 percentage point s), with the exception of Punjab
where it decreased (3.9 percentage points).

5. The gender gap between men and women was wide in states with a lower proportion of
people eating fish.

6. The gap was also wide between those eating fish and all non-vegetarian consumers.

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 Research Methodology What
is Research Methodology?
Research methodology is a structured and scientific approach used to collect, analyse, and
interpret quantitative or qualitative data to answer research questions or test hypotheses. A
research methodology is like a plan for carrying out research and helps keep researchers on
track by limiting the scope of the research. Several aspects must be considered before
selecting an appropriate research methodology, such as research limitations and ethical
concerns that may affect your research.

The research methodology describes the techniques and procedures used to identify and
analyse information regarding a specific research topic. It is a process by which researchers
design their study so that they can achieve their objectives using the selected research
instruments. It includes all the important aspects of research, including research design, data
collection methods, data analysis methods, and the overall framework within which the
research is conducted. While these points can help you understand what is research
methodology, you also need to know why it is important to pick the right methodology.

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In a scientific paper describes the different methodological choices made, such as the data
collection and analysis methods, and why these choices were selected. The reasons should
explain why the methods chosen are the most appropriate to answer the research question. A
good research methodology also helps ensure the reliability and validity of the research
findings. There are three types of research methodology—quantitative, qualitative, and
mixed-method, which can be chosen based on the research objectives.

Types Of Research Methodology:

There are three types of research methodology based on the type of research and the data
required.

• Quantitative research methodology focuses on measuring and testing numerical

data. This approach is good for reaching a large number of people in a short
amount of time. This type of research helps in testing the causal relationships
between variables, making predictions, and generalizing results to wider
populations.

• Qualitative research methodology examines the opinions, behaviours, and

experiences of people. It collects and analyses words and textual data. This
research methodology requires fewer participants but is still more time consuming
because the time spent per participant is quite large. This method is used in
exploratory research where the research problem being investigated is not clearly
defined.
• Mixed-method research methodology uses the characteristics of both quantitative
and qualitative research methodologies in the same study. This method allows
researchers to validate their findings, verify if the results observed using both
methods are complementary, and explain any unexpected results obtained from
one method by using the other method.

Sources Of Data:

• Primary Sources- These sources are records of events or evidence as they are first
described or actually happened without any interpretation or commentary. It is
information that is shown for the first time or original materials on which other

Page | 39
 research is based. Primary sources display original thinking, report on new
discoveries, or share fresh information.
• Secondary Sources- These sources offer an analysis or restatement of primary
sources. They often try to describe or explain primary sources. They tend to be
works which summarize, interpret, reorganize, or otherwise provide an added
value to a primary source.

Sampling Technique:

Convenience Sampling- Convenience sampling is a qualitative research sampling strategy

that involves selecting participants based on their accessibility and availability to the
researcher. Rather than being drawn at random from a bigger population, participants in
this strategy are picked because they are easily available to the researcher.

Statistical Tools:

Statistical tools help with data sorting and cleaning. They also help to identify and remedy
issues with the quality of data through various data cleaning techniques. It's essential to
note that when dealing with large data sets, not all data may be relevant.

Some Common Statistical Tools:

• Charts- A chart can be defined as a visual representation of any type of data in the
form of a diagram, picture, or graph, and is intended to make information easier to
understand.
• Correlation- Correlation analysis, also known as bivariate, is primarily concerned
with finding out whether a relationship exists between variables and then
determining the magnitude and action of that relationship.
• Forecasting- Forecasting is a technique of predicting the future based on the
results of previous data. It involves a detailed analysis of past and present trends
or events to predict future events. It uses statistical tools and techniques.
Therefore, it is also called Statistical analysis.

Page | 40
 • Average- The average is defined as the mean value which is equal to the ratio of
the sum of the number of a given set of values to the total number of values
present in the set.

Research Findings And Analysis

Primary research done on the detailed analysis on marine based food industry.
Sample size taken is 20.
Question 1.

Page | 41
 • The age group of the respondents is divided into three age brackets,
a) Below 18
b) 18-30
c) Above 30

• 90% of the respondents fall under the age bracket of 18-30 years of age, and 10% of
the respondents fall under above 30 years age bracket.

Question 2.

Page | 42
 • The occupation asked to the respondents were student, salaried individual or
selfemployed.

• 80% of the respondents were students, 15% were self-employed and 5% were salaried
individuals.

Question 3.

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 • In this question we can see that there is an equal share of percentage between the
responses (at intervals and rarely) i.e. 30%.
• A 40% response on the option very often has been given by the respondents on the
above-mentioned question.

Question 4.

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 • The responses here in this question shows the highest percentage of 60% response for

choosing taste as the factor influencing their choice of marine based food product.

• 25% and 10% for the options nutritional value and sustainability and the rest for

availability.

Question 5.

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 • The next responses shows us a common perception of people buying seafood from
mostly local fish markets which is 80%.
• Whereas 15% people buy their seafood from supermarkets and the rest from online
grocery stores.

Question 6.

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 • Here in this horizontal bar graph we can see that the most popular company for
processed seafood known to people is Keventer with 80% response rate for it.
• Followed by ITC Master chef and Megaa Moda with 12% and 10% responses.
• The least known brand to people is IFB Fresh catch with 5% responses.

Question 7.

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 • Price is the factor that majorly influences the purchasing decision while buying
processed seafood products with 65% responses.
• 20% responses goes for brand reputation and 15% for packaging.

Question 8.

Page | 48
 • Here in this question, it is evident that most people prefer fresh seafood over frozen
seafood with 50% responses.
• 40% people depends on the time and situation and 10% prefer frozen over fresh
seafood.

Question 9.

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 • Cooking recipes with processed seafood is a preferred choice for the majority with
55% responses

• 40% people prefer to fry them to eat, and the rest likes them to heat up before having
it.

Question 10.

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 • Adequate marketing for processed seafood is not done in the sector which is evident
by the responses which is 50% for option “yes”.
• 45% of respondents think there may or may not be a necessity for marketing in this
sector, and the rest says there is no need for more marketing and advertisement.

Question 11.

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 • People have a mix bag of thoughts while recommending others to consume frozen
seafood products with 55% of responses.
• 35% of people are likely to recommend others to consume frozen seafood and 10%
are very enthusiastic to recommend for consuming frozen seafood.

Question 12.

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 • The percentage of the perception for the quality of processed seafood has a little
margin between “healthy and hygienic” and “not sure about it” with 45% and 50%
respectively.
• The rest of the responses goes for “unhealthy”.

Question 13.

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 • People have faced challenges while purchasing or consuming processed seafood
products which is evident with 55% responses.
• 45% people have not faced any challenges while consuming or purchasing these
products.

Question 14.

Page | 54
• People may have a thought of paying a premium for sustainably sourced marine based
products with 55% responses.
• People are willing to pay a premium have responses of 30% and 15% responses goes
for people unwilling to pay any premium.

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 Recommendation And Suggestion

 Investment in Sustainable Fishing Practices: Encourage fishermen to adopt

sustainable fishing methods such as selective fishing gear, seasonal closures, and
habitat protection to prevent overfishing and maintain marine biodiversity.
 Regulatory Framework Strengthening: Implement and enforce strict regulations to
prevent illegal, unreported, and unregulated (IUU) fishing practices, which can
deplete marine resources and harm the environment.
 Promotion of Aquaculture: Encourage the development of sustainable aquaculture
practices to reduce pressure on wild fish stocks and meet the growing demand for
seafood. This can include promoting the cultivation of species like shrimp, fish, and
seaweed in controlled environments.
 Research and Development: Invest in research and development to improve the efficiency

of marine-based food production, including the development of new fishing technologies,

aquaculture techniques, and seafood processing methods.
 Infrastructure Development: Enhance infrastructure for seafood processing, storage,

and transportation to reduce post-harvest losses and ensure the quality and safety of
marine products.

Quality Control and Certification: Implement rigorous quality control standards and
certification processes to ensure that marine products meet international food safety
and sustainability standards, enhancing their marketability both domestically and
internationally.

Market Diversification: Explore new markets for Indian marine products beyond
traditional export destinations. This can involve diversifying product offerings,
targeting niche markets, and promoting Indian seafood as a premium and sustainable
choice.

Capacity Building and Training: Provide training and capacity-building programs for
fishermen, aqua culturists, and seafood industry workers to enhance their skills and
knowledge in sustainable fishing practices, aquaculture management, and seafood processing
techniques.
Page | 58
 Public Awareness and Consumer Education: Raise awareness among consumers about
the importance of sustainable seafood consumption and empower them to make
informed choices by providing information about sustainable fishing practices,
seafood certifications, and eco-friendly seafood options.
 Collaboration and Partnerships: Foster collaboration between government agencies,
industry stakeholders, research institutions, and non-governmental organizations
(NGOs) to address common challenges, share knowledge and best practices, and work
towards the sustainable development of the marine-based food industry in India.
 Quality Assurance and Food Safety Standards: Implement stringent quality assurance
protocols and food safety standards throughout the processing chain to ensure the
production of safe and high-quality seafood products that meet international
standards.
 Investment in Processing Infrastructure: Encourage investment in modern processing
facilities equipped with state-of-the-art technology to improve efficiency, reduce
processing times, and enhance product quality.
 Diversification of Product Range: Expand the product range to include value-added

seafood products such as ready-to-eat meals, smoked seafood, canned products, and
seafood snacks to cater to diverse consumer preferences and increase market share.
 Market Research and Product Innovation: Conduct market research to identify

emerging consumer trends and preferences, and invest in product innovation to

develop new and innovative seafood products that appeal to domestic and
international markets.
 Supply Chain Optimization: Streamline the supply chain to minimize processing

times, reduce wastage, and ensure the freshness of seafood raw materials by
establishing efficient logistics networks and cold chain facilities.

Sustainable Sourcing Practices: Source seafood raw materials from sustainable and
responsible fisheries and aquaculture operations to promote environmental
conservation and meet the growing demand for ethically sourced seafood products.

Certifications and Labelling: Obtain certifications such as Marine Stewardship
Council (MSC) certification for sustainable fisheries and Aquaculture Stewardship
Council (ASC) certification for responsible aquaculture to enhance the credibility and
marketability of processed seafood products.
• Export Promotion and Market Access: Explore opportunities to expand export
markets for Indian processed seafood products by participating in international trade
fairs and exhibitions, and by leveraging trade agreements to access new markets.
• Training and Skill Development: Provide training and skill development programs
for workers in the processed seafood industry to enhance their technical expertise in
seafood processing techniques, quality control, and food safety management.
• Government Support and Policy Framework: Advocate for government support in
the form of subsidies, tax incentives, and favourable policy frameworks to facilitate
the growth of the processed seafood industry and promote entrepreneurship and
investment in the sector.

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Limitations Of The Study And Scope Of Future Research/Further
Studies

The study on the marine-based processed seafood industry in India may encounter several
limitations that could affect the scope and outcomes of the final research. Firstly, data
availability and reliability could pose a challenge, as comprehensive and up-to-date
information on various aspects of the industry, such as production volumes, processing
capacities, and market trends, may not always be readily accessible. Additionally, the
seafood industry in India is diverse and fragmented, with varying practices and standards
across different regions and segments, making it challenging to generalize findings and draw
robust conclusions. Furthermore, the dynamic nature of the industry, influenced by factors
such as regulatory changes, environmental conditions, and market dynamics, adds
complexity to the research process and may require continuous updates and revisions of the
study findings. Lastly, the research scope may be limited by resource constraints, including
time, funding, and expertise, which could impact the depth and breadth of the analysis.

Some of the biggest challenges faced by Fishermen in India are:

Sustainability: According to the Food and Agriculture Organization’s State of World

Fisheries and Aquaculture reports, approximately 90% of the world’s marine fish stocks are
fully exploited, overfished, or severely depleted. Biologically viable recovery may not be
conceivable.

Demand rising: Global fish production should reach 196 million tonnes by 2025 from 171
million tonnes to meet the rising demand for animal protein. That seems nearly impossible,
given the rate at which marine fish stocks deplete.

Productivity is low in these industries when measured by the number of fishermen, boats,
and farms. A fisherman or farmer in Norway can catch or produce 250 kg per day, compared
to an average of 4–5 kg in India.

Inadequate Mechanization: Small fishermen who use traditional boats, either without motors
or ones with simple outboard motors, make up most of the marine capture fisheries. Water
pollution, improper aquaculture management, and tainted native germplasm resources are
some of the other challenges faced by fishermen in India.

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Environmental degradation also poses a major threat to the sustainability of inland fisheries.
Both aquaculture and inland fisheries require better institutional support and legal and
political recognition, as aquatic pollution and the destruction of fish habitats are also
increasing.

Despite these limitations, the final research on the marine-based processed seafood industry
in India has significant scope to provide valuable insights and recommendations for
stakeholders. By leveraging available data sources, conducting targeted surveys and
interviews, and employing rigorous analytical methods, the research can offer a
comprehensive overview of the industry landscape, including key players, market trends, and
growth opportunities. Additionally, by identifying challenges and bottlenecks faced by the
industry, the research can inform policy makers, industry associations, and businesses about
potential interventions and strategies to enhance competitiveness, sustainability, and
resilience. Moreover, the research can contribute to knowledge dissemination and capacity
building by sharing best practices, case studies, and lessons learned from successful
initiatives within the processed seafood sector. Overall, while acknowledging the limitations
inherent in the study, the final research holds promise in generating valuable insights and
recommendations to support the growth and development of the marine-based processed
seafood industry in India.

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 Conclusion

In conclusion, this dissertation has provided a detailed analysis of the marine-based seafood
industry in India, shedding light on its complexities, challenges, and opportunities. Through
comprehensive data collection, rigorous analysis, and in-depth discussion, several key
findings have emerged.

Firstly, the Indian seafood industry is characterized by its diversity, encompassing a wide
range of species, production methods, and market segments. However, this diversity also
poses challenges in terms of data availability, standardization, and regulatory oversight,
hindering comprehensive understanding and management.

Secondly, while the industry has witnessed significant growth in recent years, driven by
increasing demand both domestically and internationally, it also faces numerous challenges.
These include environmental sustainability concerns, such as overfishing, habitat
degradation, and pollution, as well as socio-economic issues like labour rights, livelihoods,
and food security.

Thirdly, it has identified several opportunities for the sustainable development of the
marinebased seafood industry in India. These include leveraging technological innovations
for improved resource management, promoting responsible fishing practices through
effective governance and stakeholder engagement, and enhancing market access and value
addition through product diversification and branding.

In light of these findings, several recommendations can be made for policymakers, industry
stakeholders, and researchers. These include strengthening regulatory frameworks to ensure
sustainable resource management and environmental protection, investing in research and
development to promote technological innovation and value addition, and fostering
collaboration and knowledge sharing among stakeholders to address common challenges and
promote best practices.

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In conclusion, while the marine-based seafood industry in India faces numerous challenges,
it also holds significant potential for sustainable growth and development. By adopting a
holistic and collaborative approach, informed by sound research and evidence-based
policymaking, the industry can overcome its challenges and emerge as a global leader in
sustainable seafood production and trade.

References

Websites For Online Articles And Journals:

• India Brand Equity Foundation

• Acuite Ratings And Research Limited
• Business Standards
• The Economic Times
• Research Gate

• Paper Pal

• MDPI (Multidisciplinary Digital Publishing Institute)

• Testbook

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 Appendix

The following questions were asked for the primary survey:

Age group

Options-

• Below 18
• 18-30
• Above 30

Occupation

Options-

• Student
• Salaried individual
• Self- employed

How often do you consume marine-based food products (e.g., fish, prawns, ready to
cook fish products etc.)?

Options-

• Very often
• At intervals
• Rarely
• Never

What factors influence your choice of marine-based food products?

Options-

• Taste
• Nutritional value
• Sustainability
• Availability

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Where do you prefer to purchase your seafood products?
Options-
• Local fish markets
• Supermarkets
• Online grocery stores

Have you heard about these companies/brands?

Options-
• Megaa Moda
• Keventer
• ITC MasterChef  IFB Fresh Catch

What factors influence your purchasing decision when buying processed seafood
products?

Options-

• Price
• Brand reputation
• Packaging
• Celebrity endorsement

Do you prefer frozen seafood over fresh caught seafood and vice versa?

Options-

• Frozen over fresh seafood

• Fresh over frozen seafood
• Depends on the time and situation

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How do you typically prepare processed seafood products at home?

Options-

• Cooking them to recipes

• Frying
• Heating

Do you think more marketing and advertisement is required to create awareness about
processed seafood?

Options-

• Yes
• No
• Maybe

How likely would you recommend others to consume frozen or ready to cook seafood
products?

Options-

• Very likely
• Likely
• Neutral  Unlikely
• Very unlikely

What are your perceptions of the quality and safety of processed seafood products
available in the market?

Options-

• Healthy and hygienic

• Unhealthy
• Not sure about it

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Have you encountered any challenges or concerns when purchasing or consuming
processed seafood product?

Options-

• Yes
• No

Are you willing to pay a premium for sustainably sourced marine-based food product?

Options-

• Yes
• No
• Maybe

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Certainly! Conducting a comparative analysis of marine food-based companies like IFB Agro, KNC,
Pasupati Aquatics, ITC Agro, and SS Seafood requires an in-depth examination of various factors
including their business models, financial performance, market presence, sustainability practices,
technological advancements, and competitive positioning. In this detailed analysis, each company
will be evaluated comprehensively, followed by a comparative overview.

**IFB Agro:**

IFB Agro Industries Limited is one of India's leading marine food processing companies. Founded in
1982, IFB Agro primarily focuses on shrimp processing and exports. The company operates state-
ofthe-art processing facilities and adheres to stringent quality standards. Its product range includes
frozen shrimp in various forms such as raw, cooked, breaded, and value-added products.

* **Business Model:** IFB Agro follows an integrated business model encompassing shrimp farming,
processing, and export. It maintains control over the entire value chain, from hatcheries to
processing plants, ensuring quality and traceability.

* **Financial Performance:** Over the years, IFB Agro has demonstrated consistent growth in
revenue and profitability. Its financial performance is largely influenced by factors like shrimp
prices, export demand, and operational efficiency.

* **Market Presence:** IFB Agro has a strong presence in both domestic and international markets.
It exports its products to several countries across the globe, including the United States, Europe,
and Southeast Asia.

* **Sustainability Practices:** The company emphasizes sustainable aquaculture practices to

minimize environmental impact. It promotes responsible farming techniques and complies with
various quality certifications.

* **Technological Advancements:** IFB Agro invests in technology to improve processing efficiency

and product quality. It employs advanced freezing and packaging techniques to maintain freshness
and extend shelf life.

* **Competitive Positioning:** Within the marine food industry, IFB Agro competes with other
players based on product quality, reliability, and customer service. Its strong focus on quality
control and customer satisfaction helps maintain a competitive edge.

**KNC:**

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KNC is a prominent player in the marine food industry, specializing in the processing and export of a
wide range of seafood products. Established in [year], KNC has expanded its operations globally and
earned a reputation for quality and reliability.

* **Business Model:** KNC operates a vertically integrated business model, with involvement in
fishing, processing, and export. It sources raw materials directly from its own fishing fleets or
through partnerships with fishermen, ensuring a steady supply of high-quality seafood.

* **Financial Performance:** KNC has delivered impressive financial results, with consistent revenue
growth and profitability. Its performance is driven by factors such as product diversification, market
expansion, and operational efficiency.

* **Market Presence:** KNC has a strong presence in key export markets, including the United
States, Europe, Japan, and China. It leverages its extensive distribution network and strategic
partnerships to penetrate new markets and reach a wider customer base.

* **Sustainability Practices:** Sustainability is a key focus area for KNC, which is reflected in its
responsible fishing practices and adherence to environmental regulations. The company actively
promotes sustainable fisheries management and invests in initiatives aimed at reducing bycatch
and preserving marine ecosystems.

* **Technological Advancements:** KNC continuously invests in technology to enhance its

processing capabilities and product quality. It utilizes advanced freezing and packaging techniques
to maintain freshness and extend shelf life, ensuring that its products meet the highest standards
of quality and safety.

* **Competitive Positioning:** KNC faces competition from both domestic and international players
in the marine food industry. However, its reputation for quality, reliability, and sustainability gives it
a competitive advantage in the market.

**Pasupati Aquatics:**

Pasupati Aquatics is a leading player in the marine food industry, specializing in the processing and
export of shrimp and other seafood products. Established in [year], Pasupati Aquatics has emerged
as a trusted supplier to customers worldwide.

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* **Business Model:** Pasupati Aquatics follows an integrated business model, encompassing
shrimp farming, processing, and export. It maintains control over the entire production process,
from hatcheries to processing plants, ensuring quality and traceability.

* **Financial Performance:** Pasupati Aquatics has delivered strong financial results, with
consistent revenue growth and profitability. Its performance is driven by factors such as product
innovation, market diversification, and operational efficiency.

* **Market Presence:** Pasupati Aquatics has a strong presence in major export markets, including
the United States, Europe, and Southeast Asia. It leverages its extensive distribution network and
customer relationships to expand its market share and drive growth.

* **Sustainability Practices:** Sustainability is a core value for Pasupati Aquatics, which is reflected
in its commitment to responsible aquaculture practices and environmental stewardship. The
company promotes sustainable farming techniques and invests in initiatives aimed at minimizing its
environmental footprint.

* **Technological Advancements:** Pasupati Aquatics invests in technology to enhance its

processing capabilities and product quality. It utilizes advanced equipment and automation to
improve efficiency and consistency, ensuring that its products meet the highest standards of quality
and safety.

* **Competitive Positioning:** Pasupati Aquatics faces competition from both domestic and
international players in the marine food industry. However, its focus on quality, innovation, and
sustainability has helped it establish a strong competitive position in the market.

**ITC Agro:**

ITC Agro is a subsidiary of ITC Limited, one of India's largest conglomerates. It is involved in the
processing and export of a wide range of agricultural and marine products, including seafood. With a
focus on quality and sustainability, ITC Agro has built a strong reputation in the industry.

* **Business Model:** ITC Agro operates a diversified business model, with interests in agriculture,
aquaculture, and food processing. It sources raw materials from both its own farms and external
suppliers, ensuring a steady supply of high-quality produce.

* **Financial Performance:** ITC Agro has demonstrated steady financial performance, with
revenue growth driven by its diversified product portfolio and strong distribution network. Despite

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 challenges such as fluctuating commodity prices and regulatory changes, the company has
maintained profitability through efficient operations and strategic investments.

* **Market Presence:** ITC Agro has a significant presence in both domestic and international
markets. It exports its products to various countries across the globe, leveraging the strong brand
reputation of its parent company, ITC Limited.

* **Sustainability Practices:** Sustainability is a core value for ITC Agro, which is reflected in its
commitment to sustainable agriculture and aquaculture practices. The company promotes
responsible farming techniques and invests in initiatives aimed at conserving natural resources and
reducing environmental impact.

* **Technological Advancements:** ITC Agro invests in technology to enhance its production

processes and product quality. It utilizes advanced farming techniques, precision agriculture tools,
and state-of-the-art processing equipment to optimize efficiency and minimize waste.

* **Competitive Positioning:** ITC Agro faces competition from both domestic and international
players in the marine food industry. However, its strong brand reputation, focus on quality, and
commitment to sustainability give it a competitive advantage in the market.

**SS Seafood:**

SS Seafood is a prominent player in the marine food industry, specializing in the processing and
export of a wide range of seafood products. Established in [year], SS Seafood has earned a reputation
for quality, reliability, and customer service.

* **Business Model:** SS Seafood operates a vertically integrated business model, with involvement

in fishing, processing, and export. It owns and operates fishing vessels and processing plants,
ensuring control over the entire production process and maintaining quality standards.

* **Financial Performance:** SS Seafood has delivered strong financial results, with consistent
revenue growth and profitability. Its performance is driven by factors such as product
diversification, market expansion, and operational efficiency.

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* **Market Presence:** SS Seafood has a strong presence in key export markets, including the
United States, Europe, Japan, and China. It leverages its extensive distribution network and
strategic partnerships to penetrate new markets and reach a wider customer base.

* **Sustainability Practices:** Sustainability is a key focus area for SS Seafood, which is reflected in
its responsible fishing practices and commitment to environmental stewardship. The company
adheres to strict fishing regulations and invests in initiatives aimed at preserving marine
ecosystems and minimizing bycatch.

* **Technological Advancements:** SS Seafood invests in technology to enhance its processing

capabilities and product quality. It utilizes advanced freezing and packaging techniques to maintain
freshness and extend shelf life, ensuring that its products meet the highest standards of quality and
safety.

* **Competitive Positioning:** SS Seafood faces competition from both domestic and international
players in the marine food industry. However, its reputation for quality, reliability, and sustainability
gives it a competitive edge in the market.

**Comparative Analysis:**

Now, let's compare these companies across various dimensions:

1. **Business Model:**

- IFB Agro, Pasupati Aquatics, and SS Seafood follow integrated business models encompassing
farming, processing, and export, giving them control over the entire value chain.

- KNC operates a vertically integrated model, while ITC Agro has a diversified business model
encompassing agriculture, aquaculture, and food processing.

2. **Financial Performance:**

- All companies have demonstrated strong financial performance, with consistent revenue
growth and profitability.

- Factors such as market diversification, operational efficiency, and product innovation

contribute to their financial success.

3. **Market Presence:**

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- IFB Agro, Pasupati Aquatics, KNC, and SS Seafood have a strong presence in key export
markets, leveraging extensive distribution networks and strategic partnerships.

- ITC Agro also has significant market presence, benefiting from the strong brand reputation of
its parent company, ITC Limited.

4. **Sustainability Practices:**

- All companies emphasize sustainability and responsible practices in their operations,

including responsible fishing, sustainable farming techniques, and environmental stewardship.

- They invest in initiatives aimed at minimizing environmental impact and promoting

sustainable resource management.

5. **Technological Advancements:**

- IFB Agro, Pasupati Aquatics, KNC, and SS Seafood invest in technology to enhance processing
capabilities, product quality, and operational efficiency.

- Advanced freezing, packaging techniques, and automation are commonly utilized to maintain
product freshness and meet quality standards.

6. **Competitive Positioning:**

- Competition in the marine food industry is intense, with companies competing based on
factors such as product quality, reliability, and sustainability.

- IFB Agro, Pasupati Aquatics, KNC, ITC Agro, and SS Seafood have established strong
competitive positions through their focus on quality, innovation, and customer satisfaction.

In conclusion, IFB Agro, KNC, Pasupati Aquatics, ITC Agro, and SS Seafood are prominent players in
the marine food industry, each with its unique strengths and competitive advantages. While they
operate in a highly competitive environment, their commitment to quality, sustainability, and
innovation positions them well for continued growth and success in the global marketplace.

https://www.scribd.com/document/469107743/MARINE-xlsx

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