Question

Indian marine products exports value worth during 2021-22

• A. US$ 8.95 billion
• B. US$ 7.76 billion
• C. US$ 6.67 billion
• D. US$ 5.08 billion

Hint:

Remember that the export value of Indian marine products during the 2021-22 fiscal year reached a record high of US$ 7.76 billion, with frozen shrimp being the primary driver of export earnings.

Answer 1

The Correct Option is B

Step 1: Understanding the Concept:
Tracking trade statistics is essential for evaluating the growth and economic contribution of India's fisheries sector.
These export figures reflect international demand, domestic production capacity, and the success of quality control measures.

Step 2: Detailed Explanation:
During the fiscal year 2021-22, India's marine products exports achieved a significant milestone, reaching an all-time high.
According to data released by the Marine Products Export Development Authority (MPEDA) and the Ministry of Commerce and Industry, India exported 1,369,264 metric tons of seafood.
This export volume was worth US\$ 7.76 billion (equivalent to approximately Rs. 57,586.48 crore).
This growth was driven primarily by high demand for frozen shrimp, which remained the dominant export item, accounting for over 53\% of total volume and 75\% of total dollar earnings.
The United States and China were the top import destinations for Indian seafood during this period.
This record export value demonstrated the recovery of the seafood industry following the disruptions caused by the COVID-19 pandemic.
Therefore, the correct export value for 2021-22 is US\$ 7.76 billion.

Step 3: Final Answer:
India's marine products exports during the year 2021-22 were worth US$ 7.76 billion.
Thus, the correct choice is (B).