Russia’s approval to at least 25 Indian fishery units will make them eligible to supply fish, shrimp and other seafood to the country, said Commerce and Industry Minister, Piyush Goyal, on Tuesday.
The development comes in the wake of the European Union (EU) approving 102 additional marine product units from India for exports as India engages with several other countries, including the UAE, to diversify its shrimp and fish exports after the sector was hit by a steep 50 per cent tariffs imposed by the US.
“Russia is also on the course of approval nearly 25 fishery establishments,” Goyal told reporters, adding that he is confident that the proposed free trade agreement (FTA) between India and the EU should be finalised soon.
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“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,” he said.
India’s shrimp exports in 2024-25 were USD 4.88 billion, accounting for 66 per cent of the total seafood exports.
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