New Delhi, Dec 17 (NationPress) India’s marine product exports have seen a remarkable 21% surge, reaching Rs 42,322 crore ($4.87 billion) during the first seven months of the current fiscal year (April–October). This marks a significant increase from Rs 35,107.6 crore ($4.20 billion) during the same timeframe last year. The export volume has also grown by 12%, from 9.62 lakh metric tonnes to 10.73 lakh metric tonnes, as reported to Parliament on Wednesday.

The Minister for Fisheries, Animal Husbandry, and Dairying, Rajeev Ranjan Singh, addressed a query in the Rajya Sabha, stating that the government is actively engaging with stakeholders to evaluate the implications of the US tariff measures. Efforts are ongoing to mitigate their effects on Indian exports through a comprehensive and multi-faceted approach.

This strategy involves proactive discussions with the US government aimed at establishing a mutually beneficial India–US Bilateral Trade Agreement, immediate relief measures via the RBI's trade-related initiatives, and the Credit Guarantee Scheme for Exporters. Additionally, the government is enhancing domestic demand through next-generation GST reforms and launching export promotion initiatives, such as the new Export Promotion Mission, which offers targeted support to exporters.

Furthermore, the government is pursuing new Free Trade Agreements (FTAs) and aims to improve the utilization of existing ones. Recent months have seen an increase in the number of fishery establishments approved for export to the EU and Russia.

The Ministry of Fisheries, Animal Husbandry, and Dairying is executing numerous schemes for the comprehensive development of the fisheries sector. Under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), the Department of Fisheries has sanctioned projects with a total investment of Rs 21,274.13 crore, including a central share of Rs 9,189.74 crore over the last five years for the advancement of fisheries and aquaculture.

Thanks to various well-planned policies and initiatives by the Centre, India's seafood exports have more than doubled from Rs 30,213 crore in 2013-14 to Rs 62,408 crore by 2024-25.

The minister also highlighted that the Department of Fisheries, in collaboration with the Marine Products Export Development Authority (MPEDA), Department of Commerce, and other stakeholders, has organized awareness programs on the India–UK Comprehensive Economic and Trade Agreement (CETA), along with stakeholder consultations, seafood exporter meetings, and Chintan Shivir focused on value addition.

Additionally, the Centre has conducted a series of meetings with Embassies and High Commissions of potential partner countries to explore collaboration opportunities, strengthen bilateral trade in the fisheries sector, promote value addition, enhance biosecurity and quality compliance, advance automation, and foster R&D partnerships while supporting broader sustainable development initiatives. Efforts also include enhancing trade facilitation, boosting export promotion through trade delegations and technical exposure visits, and organizing buyer–seller meetings.