‘Exports Will Only Grow’: Union Minister Piyush Goyal Says Russia Clears 25 Indian Fishery Units

Union Minister for Commerce and Industry Piyush Goyal on Tuesday expressed strong optimism about India’s export growth while revealing significant progress in opening new markets for Indian marine products, particularly shrimp.

Russia Approves Nearly 25 Fishery Establishments

During an interaction with reporters, the Minister disclosed that Russian authorities have either approved or are in the final stages of approving nearly 25 Indian fishery establishments for exports.

“Russia has also inspected and approved, or is in the course of approval, nearly 25 fishery establishments,” Goyal said.

This development follows sustained diplomatic and technical engagements and is expected to give Indian shrimp and marine product exporters fresh access to one of the world’s largest markets for seafood.

EU Relists Over 100 Indian Units

In a parallel breakthrough, more than 100 Indian fishery units have been either newly listed or relisted by the European Union over the past year after rigorous inspections and compliance upgrades.

“We have been engaged with the European Union and have successfully got more than 100 fishery establishments either relisted or listed for the first time,” the Minister stated.

“Exports Will Only Grow,” Asserts Goyal

Addressing concerns over temporary hiccups in certain markets, Goyal struck a confident note: “I think there may have been a small blip, but shrimp exports will only grow, not reduce.”

He reiterated his broader outlook on India’s trade performance: “India’s exports continue to grow and will continue to grow in the future.”

FTA with EU in Final Stages

The Minister also shared that negotiations for a comprehensive free-trade agreement with the European Union are progressing well.

“We are having very good engagement with the EU and I am very confident that in the coming months we should be able to reach an understanding with the EU, subject, of course, to sorting out some of the last-minute or last-mile issues which are currently under negotiation,” Goyal said.

He added that India will announce the pact only when it is “fair, equitable and balanced.”

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Stakeholder Consultations Drive Policy

When asked about the roadmap and stakeholder involvement, Goyal underlined the government’s approach.

“As you are aware, Prime Minister Narendra Modi and his government are a listening government and a listening government is always engaging with stakeholders to get newer ideas,” he remarked.

The Minister said regular interactions with domestic industry, FDI and FII investors are helping shape policies that attract higher investment and expand market access.