India Aims to Double Marine Products to Rs 1 Lakh in Next 5 Years

India aims to double its exports of marine products from the current Rs of about 50,000 to Rs of 1 lakh over the next five years, said Piyush Goyal, Minister of Commerce, Industry, Food & Public Distribution, and Textiles.

Goyal, addressing the media persons at the Marine Products Export Development Authority (MPEDA), Kochi said, “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.”

At the event, K.N. Raghavan, Chairman of MPEDA, presented a roadmap for achieving export sales of  1 lakh crore. Goyal further stated that the FTA was finalized between the United Arab Emirates and Australia, but negotiations for such an agreement are underway between the United Kingdom and Canada.

The Minister will meet with the Seafood Exporters Association of India (SEAI) at the MPEDA office to discuss in detail the various problems, challenges, and solutions facing the sector, and to meet with fishermen from Kerala, Tamil Nadu, Pondicherry, and  Karnataka.