Indian fisherman Iqbal, 40, succumbed to his injuries after being hit by a bullet on right collar bone.
Giving details, the Coast Guard said its ship Vijit intercepted a VHF (very high frequency) call at 9:30 AM seeking assistance from an Indian fishing boat which was being fired upon by an "unidentified boat 10 NM (18.56 kms) across notional International Maritime Boundary Line (IMBL)".
Two ships Vijit and Meera Behn - which were on patrol duty, were immediately diverted towards the position of incident to investigate and render assistance.
"Vijit effected rendezvous with the boat and ascertained that the firing incident had resulted in the death of a fisherman. The remaining crew is safe," the Coast Guard said in a statement.
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The fishing vessel is being brought back to Okha in Gujarat.
Asked about the alleged involvement of Pakistan's MSA, the official said a probe is underway and it would be premature to draw any conclusion at this stage.
The firing took place near the International Maritime Boundary Line(IMBL), Secretary of National Fishworkers' Forum (NFF) Manish Lodhari said, adding Pakistan's MSA was behind the attack.