eFishery, an Indonesian aquaculture technology company, is set to expand its presence in the Indian market after achieving notable success in its first year of operations. The firm plans to target strategic regions, particularly in South and East India, to introduce tilapia and other fish commodities.

Since entering the Indian market in 2023, eFishery has transformed the country’s aquaculture industry, leading to rapid growth and significantly benefiting local farmers. In a statement released on Friday, the company highlighted its successful adoption of business practices from Indonesia, including the deployment of the automated smart eFeeder, feed trading services, fingerling support, medication, and best practices in pond management.

“During our one year of operation in India, eFishery not only replicated Indonesia’s technology and business model, but we also reached the break-even point, achieving positive earnings before interest, taxes, depreciation, and amortization (EBITDA)”, said Gibran Huzaifah, Chief Executive Officer and Co-founder of eFishery. He emphasized that this milestone serves as a benchmark for the company to continue providing impactful solutions and innovations for farmers in India.

eFishery’s strategy focuses on offering advanced technology and comprehensive support throughout the aquaculture supply chain, alongside implementing sustainable practices. “Our hope is to reach more farmers in India to build a more integrated fisheries ecosystem”, Gibran added.

Currently, eFishery operates 60 farms in India, managing 132 active ponds and partnering with 114 fish farmers through its ‘Aqua Mithra’ program. This initiative is designed to empower local farmers with various technologies and training. The company has established a significant footprint in Andhra Pradesh, a key region contributing to 35 percent of India’s total aquaculture production. Key locations include Kakinada, Konaseema, Eluru, Krishna, and the Godavari districts.

India boasts a population of 1.4 billion and a seafood consumption rate of 60 to 70 percent, highlighting the country's substantial market potential. The aquaculture industry in India is valued at over $15 billion, with a compound annual growth rate (CAGR) exceeding 8 percent over the past three decades.

Despite this growth potential, small and medium-scale farmers in India face numerous challenges, including limited market access, inconsistent pricing schemes, delayed payment systems, and a lack of essential farming management information. eFishery's technology aims to address these issues, with its eFeeder system facilitating precise and efficient feeding, thereby reducing feed waste and enhancing feed conversion ratios. This leads to healthier fish and improved growth rates.

“Aligned with eFishery’s vision and mission, we aim to provide innovative solutions from upstream to downstream, optimizing farming practices and enhancing overall yields, regardless of where we operate”, concluded Gibran.

Founded in 2013, eFishery has established itself as a pioneering force in aquaculture technology. The company offers an end-to-end platform that provides access to feed, funding, and markets for fish and shrimp farmers, positioning itself as a vital player in the future of sustainable aquaculture.