Tariffs on shrimps and a few other items imported from the USA are set to go up as the government of India has decided to impose retaliatory duties worth over $200 million on 29 products. This work focuses on shrimp which is the flagship item of seafood exports from India which accounts for 10% of the total exports and nearly 20% of the agricultural exports. Changing markets and product profile including exports diagnostics are explored. Backed by a strong market acceptance, international markets for Indian shrimp have been relatively steady but product profile needs to develop vertically. India needs to diversify its focus from frozen shrimp into value added products. It needs to develop resilience to foreign exchange rates volatility and retain, diversify and develop niche markets. Overall, strong and steady performance of Indian seafood exports overtime should not lead to complacence. Industry needs to be supported both physically and financially. National Bank for Agriculture and Rural Development (NABARD) finance and priority sector lending needs to broad base their outlook to enable industry to update and adopt latest processing technology to develop and market value added shrimp. The MPEDA and Coastal Aquaculture Authority (CAA) which govern aquaculture production and regulation need to look into restructuring shrimp farming in the country to eliminate negative externalities that limit full-scale exploitation of its potential. The steady contribution of seafood exports to the foreign exchange kitty of India should make it a priority sector for attention, in terms of financial, physical, human and social considerations. The newly announced MatsyaSampada Yojana of the government of India, should envisage strategies for sustainable exploitation of available open common use resources of fisheries and aquaculture in the light of climate change scenario and human resource development for sustaining the sector.

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North-East (NE) India produced about 3.38 lakh tonnes of fish from the total inland water bodies of 5.63 lakh ha during the year 2012-13 with productivity of about 600 kg/ha and it also sources about 90,000 tonnes of fish per year from other states of India. This study has estimated the efficiency levels of fish farms and has identified the fish production potential by improving the efficiency level of underperforming units. The variables, viz. fish farm area and occupation and fish farming with agriculture have been found to significantly influence the efficiency level of fish farms in this area. The study has found that larger farms were more efficient. The average efficiency levels of fish farms in the study area being low, the scope for improvement in fish farming is immense in North-East India and Manipur through adoption of better production practices.

In India, fisheries is an economic activity contributing 17.07% of the total agricultural exports during the year 2016-17 with annual earnings of US$ 5.78 billion (` 37,870 crores). Frozen shrimp contributes maximum share of about 66% by value and 39% by quantity. The present study has examined the geographical penetration, composition and unit value realisation of frozen shrimp exports from India. It also estimates the competitiveness index, comparative advantage and market diversification of Indian frozen shrimp exports in the world exports market. India's total fishery exports has risen from 0.3 million tons to 0.95 million tons during the period 1995-96 to 2015-16 with a compound growth rate of 6.46%. India has lost its market share in Japan but has gained in South East Asia and European Union market during the period 1995-96 to 2014-15. India's frozen shrimp exports to major export destinations like Japan, USA and EU have been getting diversified over the period.

India seafood exports achieved an all-time high of 11,34,948 MT and US $ 5.78 billion during 2016-17 with shrimp as the major commodity constituting about 39 percent by quantity and 67 percent by value. India also becomes one of the top shrimp exporting country in the world being USA and Japan be the major markets and followed by South east Asia, European countries, China, Middle east, etc. but there is high risk and uncertainty in shrimp trade due to trade barriers, exchange rates, high competition among shrimp producing countries. In this paper, we estimate value at risk and tried to identified more risk pron markets between the two major markets i.e. USA and Japan markets.