The Marine Products Export Development Authority (MPEDA) will target exports of $20 billion in the next five years. “It will require a growth rate of about 15 per cent. We need to sustain and accelerate the growth tempo to meet this target,” MPEDA chairman Dodda Venkata Swamy said.

MPEDA, which is credited with making India’s marine products a global brand, will kick off its golden jubilee celebrations on Wednesday in Bolgatty Island near Kochi.

Anupriya Patel, Union minister of state for commerce and industry, will inaugurate the celebrations, which will also see the distribution of the MPEDA Export Awards and Champions trophy of MPEDA Golden Jubilee Marine Quest 2022. India’s marine exports have now touched 1.4 million tonnes (Rs 57,586 crore) against only 35,523 tonnes in MPEDA’s year of inception in 1972.

“The golden jubilee comes amid MPEDA’s continued efforts to capitalise on the milestones reflected in its fundamental focus on capture fisheries, value-added products and market promotion, besides establishing a pan-India network while invigorating quality and sustainability,” said Dodda Venkata Swamy.