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Business Standard
03-07-2025
- Business
- Business Standard
Tamil Nadu plans seafood exports of $5 bn, sets roadmap for blue economy
Tamil Nadu has set a 'massive target' of $5 billion in seafood exports annually and has a roadmap for it, said State Industry Minister T R B Rajaa on Thursday. Tamil Nadu has the second-longest coastline after Gujarat, but ranks seventh among seafood-exporting states after Andhra Pradesh, Gujarat, Karnataka, Kerala, Maharashtra and West Bengal. 'Tamil Nadu is charting an ambitious course to unlock our blue economy. We are setting a massive target for ourselves and the industry: $5 billion in seafood exports,' said Rajaa. The roadmap will focus on developing seafood infrastructure like processing units, cold chains and export-grade packaging facilities along the state's coastline. 'Our core idea is that we don't just want to be exporters of raw catch. Our goal is to add value right here within our coastal communities. This is also about creating better incomes, sustainable livelihoods, and stronger futures for our fishing communities,' he said. The roadmap was announced as the Marine Products Export Development Authority (MPEDA), which comes under the Union Commerce Ministry, organised the inaugural National Skill Olympiad on seafood value addition at the Seafood Expo Bharat in Chennai on Tuesday. India's seafood exports increased 3.71 per cent from 1.754 million tonnes in 2022–23 to 1.819 million tonnes in 2023-24. Tamil Nadu contributed 89,000.93 tonnes, almost 5 per cent. India's seafood industry faces global challenges. When President Donald Trump hiked tariffs, it cast a shadow over exports of aqua products to the US, which accounts for about 35 per cent of India's total seafood exports. In 2023–24, India exported 297,571 tonnes of frozen shrimp to the US, making it the largest market, followed by 148,483 tonnes to China, 89,697 tonnes to the European Union, and 52,254 tonnes to Southeast Asia. Shrimp accounts for 41 per cent of the volume and 66 per cent of the value of India's total marine exports. According to MPEDA, India exported 716,004 tonnes of frozen shrimp worth $4.88 billion in 2023-24.
India Gazette
16-06-2025
- Business
- India Gazette
India's export rose 2.8% in May at $71.1 billion; trade deficit narrowed
New Delhi [India], June 16 (ANI): India's overall exports, merchandise and services combined, in May were reported at USD 71.12 billion, marking a 2.77 per cent rise on a yearly basis, data from the Union Commerce Ministry showed on Monday. The total exports in May 2024 were pegged at USD 69.20 billion. Exports of merchandise goods declined from USD 39.59 billion to USD 38.73 billion, and exports of services rose from USD 29.61 billion to USD 32.39 billion during May 2025. India imported goods and services worth USD 77.75 billion, down from USD 78.55 billion in the same month last year. The trade deficit in May narrowed to USD 6.62 billion from USD 9.35 billion same month last year. So far in 2025-26, April-May, India's total exports now stood at around USD 142.43 billion, up 5.75 per cent year-on-year. The country's imports too increased year-on-year in April-May, by 6.52 per cent as per data published today. Overall imports, both merchandise and services combined, during April-May increased from USD 149.81 billion to USD 157.57 billion. April-May combined trade deficit, meaning the difference between the exports and the imports -- was at USD 17.14 billion, compared with USD 15.12 billion same period of last fiscal. India's total exports have touched an all-time high of USD 824.9 billion in the recently-concluded financial year 2024-25. This marks a yearly growth of 6.01 per cent over USD 778.1 billion exports in 2023-24, setting a new annual milestone. The 2024-25 exports exceeded the initial anticipation of USD 800 billion. In 2024-25, services exports continued to drive the growth momentum, reaching a historic high of USD 387.5 billion, up 13.6 per cent from USD 341.1 billion in the previous year. In 2024-25, merchandise exports stood at USD 437.42 billion in 2024-25, with a marginal increase. India's total trade deficit (merchandise and services) for the fiscal year 2024-25 widened to USD 94.26 billion, from USD 78.1 billion in 2023-24. Among various steps the government took was to launch a Production Linked Incentive (PLI) scheme in varied sectors, including electronic goods, to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain and reduce dependency on imports. These seemed to have reaped dividends for rising exports. Adding an interesting layer to the market's expectations, a prediction contract with 27 active traders on the platform Probo - a popular opinion trading platform - currently assigns a 45 per cent probability to India achieving cumulative exports of USD 950 billion or more in FY 2025-26. (ANI)
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First Post
09-06-2025
- Business
- First Post
India likely to avoid trade ban on Turkey due to $2.73 bn surplus
India is restricting Turkish involvement in key infrastructure projects over security concerns but is avoiding a full trade ban. Despite industry calls, the government is unlikely to impose a trade ban, due to $2.73 billion trade surplus. read more While India is taking steps to limit Turkish involvement in key infrastructure projects on national security grounds, it is less inclined to impose similar restrictions on overall trade. This is despite industry groups calling for a ban on imports such as apples and marble. The main reason is that India runs a $2.73 billion trade surplus with Turkey, and blocking trade could harm India's own interests. 'We have received several representations requesting a ban on imports from Turkey. Apple growers from Himachal Pradesh have specifically sought a ban on Turkish apple imports. However, India maintains a trade surplus with Turkey, and we must also consider the interests of our exporters. A trade ban could send a strong geopolitical message, but it's a question of how far we are willing to take it,' a government official told The Indian Express. STORY CONTINUES BELOW THIS AD The trade surplus is significant because India primarily exports industrial goods to Turkey—such as engineering products, electronics, and chemicals—which have steadily increased over the past five years. In contrast, Turkey's exports to India are mainly limited to fruits, nuts, gold, and marble. Following the Ukraine war, Turkey had ramped up its imports of petroleum products from India, but this category has seen a sharp decline in FY25. This development comes in the wake of Turkey backing Pakistan during heightened tensions with India, after New Delhi carried out Operation Sindoor targeting terror hubs in Pakistan and Pakistan-occupied Kashmir (PoK). Last month, apple growers from Himachal Pradesh met officials from the Union Commerce Ministry, demanding a ban on apple imports. They claimed that cheap, subsidised Turkish apples are damaging the domestic horticulture sector and pushing local farmers into financial distress. They also emphasised that apples are not merely a crop, but the economic backbone of hill states. Marble processors from Udaipur also wrote to the Prime Minister's Office (PMO) last month, seeking restrictions on marble imports from Turkey. Earlier this month, Turkish President Tayyip Erdogan met Pakistani Prime Minister Shehbaz Sharif in Istanbul and stated that both countries would work to deepen cooperation, especially in defence, energy, and transport, according to a statement from Erdogan's office. Pak gets strong Turkey backing About two weeks ago, Turkey reaffirmed its close ties with Pakistan, which are rooted in shared religious identity and historical links. Erdogan also expressed solidarity with Pakistan after India conducted military strikes in response to a terror attack in Pahalgam carried out by Pakistan-backed militants.
Indian Express
08-06-2025
- Business
- Indian Express
Eye on strong export advantage, India not keen to dent Turkey trade ties with curbs
Amid moves to curb the role of Turkish companies in critical infrastructure, citing national security grounds, there is palpably less appetite within the Government to extend this approach to the bilateral trade basket despite calls from industry groups to ban the import of items such as apples and marbles. Reason: India runs a $2.73 billion bilateral goods trade surplus and any blockade could be counterproductive. 'We have received a number of representations to ban imports from Turkey. Apple-growers from Himachal Pradesh have sought a ban on apple imports from Turkey. But India runs a trade surplus with Turkey and we have to keep in mind our exporters' interests too. It (a trade ban) could be a strong geopolitical message, but it's about how far you want to take it,' a Government official told The Indian Express. The trade surplus assumes significance as India's outbound shipments to Turkey largely consist of industrial exports, such as engineering goods, electronics, and organic and inorganic chemicals, which have increased over the past five years. In contrast, Turkey's exports to India are largely limited to fruits, nuts, gold and marble. Turkey had also stepped up petroleum product imports from India following the Ukraine war but this category has seen a significant decline in FY25. Last month, apple-growers from Himachal met Union Commerce Ministry officials to seek a ban on apple imports, stating that subsidised apples from Turkey are crippling the domestic horticulture economy and pushing orchardists in the state into financial distress. According to them, apples are not just a commercial crop but the economic backbone of hill states. Marble processors from Udaipur also wrote to the Prime Minister's Office (PMO) last month seeking import curbs on marble from Turkey, citing its support to Pakistan during Operation Sindoor — India imports the majority of its marble from Turkey. Official trade data showed that exports to Turkey in FY25 totalled $5.72 billion, largely driven by engineering exports, which comprise over 50 per cent at $3 billion. Notably, the Micro, Small and Medium Enterprises (MSME) sector dominated the segment, contributing nearly 35-40 per cent. Turkey's support for Pakistan, including supplies of drones, during Op Sindoor had led to India cancelling the security clearance for Turkish aviation firm Celebi — and tourism numbers to Turkey showing a sharp dip. But India holds the edge in bilateral trade: exports in FY25 totalled $5.72 bn, driven by engineering exports, while imports stood at $2.99 bn, mainly of fruits and nuts. Imports from Turkey during the last financial year stood at $2.99 billion — imports in the fruits and nuts category were $107.12 million, up nearly 10 per cent from $96.82 million the previous financial year. India also imported gold worth $270.83 million from Turkey in FY25 — 159.02 per cent higher than the $104.56 million worth of gold imports in FY24. Last month, the Bureau of Civil Aviation Security (BCAS) had revoked the security clearance of the Indian arm of Turkey-headquartered airport ground-handling major Celebi Aviation Holding on grounds related to 'national security'. However, the Bombay High Court on May 26 temporarily halted Mumbai International Airport Limited (MIAL) from finalising tenders for ground and bridge handling services until Celebi's plea against its contract termination is heard after the court reopens in June. The Indian Express reported last month that Indian tourists are increasingly cancelling holidays to Turkey and Azerbaijan, which had also supported Pakistan, as reflected in visa applications. While Turkey registered 3 lakh Indian tourists in 2024, Azerbaijan saw 2.44 lakh. Industry representatives expect that a chunk of these numbers will now be diverted to Central Asian countries such as Kazakhstan and Uzbekistan. Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets. ... Read More
