Russia is on course to approve nearly 25 fishery units in India, which will make them eligible to supply to that country, Commerce and Industry Minister Piyush Goyal said on Tuesday.
Russia to soon approve nearly 25 Indian fishery units for exports
The development is also important for diversifying India's shrimp exports, which are hit hard by a steep 50% tariff imposed by the US
Russia is to approve nearly 25 fishery units in India Photo by Dibakar Roy
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Recently, the European Union (EU) has approved 102 additional marine product units from India for exports.
"Russia is also on the course of approval nearly 25 fishery establishments," he told reporters here.
He said that India is in talks with several other countries including the UAE to diversify its shrimp and fish exports.
The development is also important for diversifying India's shrimp exports, which are hit hard by a steep 50% tariff imposed by the US.
India's shrimp exports in 2024-25 were $4.88 billion, accounting for 66% of the total seafood exports.
When asked about the progress in the talks for the proposed free trade agreement between India and the EU, Goyal said: "I am very confident that in the coming months we should be able to come to an understanding with the EU subject to sorting out some of the last mile issues which are currently under negotiations."
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