New Delhi, Oct 5 (ANI): The Marine Products Export Development Authority (MPEDA) today signed an agreement for Promotion of Indian Black Tiger Shrimp including the Co-Branding Agreement with SYSCO (USA).
The agreement was signed by Leena Nair, Chairperson, MPEDA and James Butch Vidrine, Vice President, SYSCO (USA).
Earlier, SYSCO submitted a detailed proposal for promotion of Indian Black Tiger Shrimp through its network by branding it as MPEDA PORTICO shrimps.
The proposal contains three phases of brand promotion. The total estimated expenditure for the entire promotion programme is 2,308,450 dollars, of which 50 per cent will be borne by SYSCO.
Speaking on the occasion, Nair informed that the export of marine products from India reached an all time high of Rs.8608 crore during the year 2008-09. During this period 602,835 MTs of seafood products were exported. There was an increase of 11.29 per cent in terms of quantity and a 12.95 per cent increase in rupee earning compared to the exports during the previous year.
"This was a creditable achievement for the Indian Seafood Industry considering the great recession which has shaken even the strongest economies in the world. Right policies and interventions by Government of India / MPEDA and the pro-active role played by the industry helped in achieving the positive growth in exports for the fifth consecutive year in the most trying circumstances" Nair added.
Nair said that once the Indian Black Tiger brand is established, export of other products will also get a major boost because of better brand image of seafood exported from India.
SYSCO is a fortune 500 food service company and is North America's leading foodservice marketeer and distributor. They are the global leaders in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home.
Having a record sale of 37.5 billion dollars for fiscal year 2008. SYSCO continues to be the global leader in the foodservice industry. Today, SYSCO has sales and service relationships with approximately 400,000 customers. Operating from 170-plus locations throughout the contiguous United States and portions of Alaska, Hawaii, and Canada, SYSCO's product lines are as diverse as the 50,000 employees who support its daily operations.
With their vast network all over USA the Corporation has a capacity to absorb almost 10,000 MT of Black Tiger Shrimps from India. Hence this tie up with SYSCO is expected to make a big difference to India's export earnings. (ANI)