In the next five years, India wants to increase its marine product exports to Rs 1 lakh crore

India aims to double exports of marine products to Rs 1 billion in next five years from around Rs 50,000 crore today, Union Minister for Trade and Industry, Food and Public Distribution and Textiles Piyush Goyal.

He was speaking at an event in Kochi on Monday.

"This will be accomplished through sustainable fishing, ensuring quality and diversity, encouraging cabotage and aquaculture, and supporting the entire fisheries ecosystem," Goyal told media at Marine Products Export Development Authority (MPEDA), Kochi.

      At the event, K.N. Raghavan, Chairman of MPEDA, presented a roadmap to achieve export sales of Rs 1 lakh crore.

Goyal went on to say that FTAs have been finalized with the United Arab Emirates and Australia, while negotiations for such an agreement are ongoing with the United Kingdom and Canada.

The minister said that negotiations on a free trade agreement with the EU will start on the 17th of this month in Brussels.

The Minister interacted with the Seafood Exporters Association of India (SEAI) at the MPEDA office and extensively discussed various issues, challenges and solutions faced by the sector and also met with fishermen from Kerala, Tamil Nadu, Pondicherry and Karnataka.

It has secured interventions aimed at minimizing barriers to the import of value-added raw materials so that India can transform itself into a seafood processing hub in the near future.


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