Piyush Goyal outlines India's $30 billion seafood export target
India is setting its sights on a big leap in seafood exports, hoping to jump from $8.45 billion to over $30 billion in just five years.
Commerce Minister Piyush Goyal shared this ambitious goal at a national workshop, pointing out that India's seafood exports have already grown 70% since 2013-14, way ahead of global trends.
India exploring PLI for seafood MSMEs
Goyal stressed the importance of sustainable and legal fishing, saying, nobody has been able to cast a single allegation of illegal fishing on India's sustainable fishing practices.
To help reach the export target, the government is exploring a dedicated PLI scheme for small seafood businesses (MSMEs) in the seafood sector, improve technology and infrastructure, and encourage research.
Despite challenges like US tariffs, things are looking up with the EU approving over 125 Indian fisheries establishments last FY, giving the sector a much-needed boost.