India’s Aquaconnect invests US$4.5M in aquaculture research
The India-based seafood company is setting up R&D and production facilities to enhance aquaculture formulations.
INDIA – Aquaconnect, an aquaculture technology firm based in India, is investing US$4.5 million in research and development (R&D) and production to expand into aquaculture biologicals.
The company is establishing advanced facilities to develop innovative formulations that support aquaculture health and sustainability, according to a statement reported by the Press Trust of India (PTI).
Aquaconnect is also engaging with biotechnology companies from the European Union and the United States to collaborate on formulations tailored specifically for India’s aquaculture industry, drawing on international research expertise.
CEO Rajamanohar described this expansion as a strategic move that aligns with the company’s broader goal of integrating technology into aquaculture.
He emphasized that the company is committing long-term investments to advance biological research that can improve farm care solutions.
India’s position in global aquaculture
India ranks as the second-largest aquaculture producer in the world, with total fish production reaching 14.4 million tonnes in 2021.
Of this, 9.4 million tonnes came from aquaculture, highlighting the sector’s significant role in India’s fisheries output.
Inland aquaculture accounts for approximately 87% of farmed fish production, with carp and other freshwater species forming the bulk of the industry.
Shrimp farming, particularly the cultivation of Vannamei shrimp, has grown rapidly and now makes up a major portion of India’s seafood exports.
In 2022, the country earned approximately US$7.9 billion from fish and fishery product exports, with shrimp contributing around 70% of these earnings.
Market trends and growth projections
India’s aquaculture market is currently valued at about US$1.42 billion, driven by increasing domestic fish consumption and rising global demand for seafood.
The sector is projected to expand at a compound annual growth rate (CAGR) of 10.4% between 2024 and 2030, supported by efforts to enhance food security and safety.
With expanding research initiatives like Aquaconnect’s latest investment, India’s aquaculture industry is expected to see further developments in farm care and sustainability.
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