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.