Leading Indonesia-headquartered aquaculture company, eFishery, plans to establish a global foothold with successful expansion in India, marking a significant milestone in its global expansion journey
The pilot project commenced in March 2023, successfully acquiring more than 1,000 acres of ponds under contract and distributing more than 3,000 metric tonnes of feed. By the end of this year, eFishery plans to expand its footprint to five new Indian states, while also signalling broader expansion beyond Southeast Asia. Besides India, the firm is targeting opportunities in Latin America as well as a couple of Asian countries, while continuing to export shrimp products overseas.
The company's global expansion strategy also focuses on tapping into diverse markets, offering a comprehensive ecosystem to farmers, and creating a ‘Digital Co-Op’ model that provides access to high-quality inputs, IoT technologies, production SOPs, and guaranteed market off-take, ultimately empowering farmers and unlocking their true potential.
According to eFishery CEO and co-founder Gibran Huzaifah, India is a key part of eFishery's overall growth strategy. Commencing its operations in Andhra Pradesh, an Indian state contributing to 35% of the country's total aquaculture production, eFishery has conducted a thorough market and strategy assessment.
"Our business objectives are centred on solving problems for the farmers and improving profitability through heightened productivity and efficiency. Rather than dividing the aquaculture pie, we are essentially doubling the size," said eFishery's International Expansion Lead, Neil Wendover.
For more information, visit: https://efishery.com/en/