India aims to double marine product exports to Rs 1 trn in 5 years: Goyal

India aims to double marine product exports to Rs 1 lakh crore in the next five years from the present around Rs 50,000 crore, Piyush Goyal has said

Piyush Goyal
Piyush Goyal, Minister of Commerce and Industry. (PTI photo)
IANS New Delhi
2 min read Last Updated : Jun 07 2022 | 12:10 PM IST

India aims to double marine product exports to Rs 1 lakh crore in the next five years from the present around Rs 50,000 crore, Union Minister of Commerce and Industry, Food & Public Distribution and Textiles Piyush Goyal has said.

He was speaking at an event in Kochi on Monday.

"This target will be achieved through sustainable fishing, ensuring quality and variety, promotion of coastal shipping and aquaculture, and by supporting the entire fisheries ecosystem," said Goyal, addressing the mediapersons at the Marine Products Export Development Authority (MPEDA), Kochi.

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

Goyal further said that the Free Trade Agreements have been finalised with the UAE and Australia, while negotiations are in progress for such an agreement with the UK and Canada.

The minister said negotiations to reach an FTA with the EU will begin in Brussels on the 17th of this month.

The Minister had an interaction with Seafood Exporters Association of India (SEAI) at MPEDA office and had an extensive discussion on various issues, challenges and solutions facing the sector and also met with fishermen from Kerala, Tamil Nadu, Puducherry and Karnataka.

He assured interventions to minimise the hurdles on the import of raw materials for value addition so that India can be transformed to a seafood processing hub in the near future.

--IANS

ad/dpb

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Piyush Goyalmarine exportsIndia exports

First Published: Jun 07 2022 | 12:09 PM IST

Next Story