Marine Exports

Various aspects of India's proposed purchase of 26 naval variant of the Rafale aircraft are likely to be discussed during a two-day visit to New Delhi by Eric Trappier, the chairman and CEO of Dassault Aviation, the maker of the jet, people familiar with the matter said on Sunday. Trappier arrives in Delhi on Monday to hold negotiations on the procurement, they said. In July, the defence ministry approved the purchase of the Rafale (marine) jets from France, primarily for deployment on board the indigenously-built aircraft carrier, INS Vikrant. Defence Minister Rajnath Singh will also pay a four-day visit to Italy and France beginning Monday to expand bilateral strategic engagements and explore industrial cooperation for joint development of military hardware. The proposed procurement of the Rafale jets by India is also likely to figure during Singh's talks with his French counterpart, Sebastian Lecornu, in Paris. It is learnt that Trappier is likely to meet Defence Secretary Giri

India aims to double marine product exports to Rs 1 lakh crore in the next five years from the present around Rs 50,000 crore, Union Minister of Commerce and Industry, Food & Public Distribution and Textiles Piyush Goyal has said.

The country exported 6.05 lakh tonnes of marine products worth Rs 27,575 crore in the first six months of the current financial year 2021-22 with the most exports undertaken from Andhra Pradesh

China is one of the key markets for India as far as marine exports are concerned

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Value of shipments to that country rose 257 per cent to reach $811 million in FY19, and to $1,025 million in the first eight months of the current financial year

The report revealed that going forward these conditions are likely to persist and overall marine exports are likely to remain subdued in the coming quarters

China is a major importer of marine products with imports of around $ 12 billion

The outcome of the EU's audit was discussed at two standing committee meetings of the European Commission last month

EU is the third largest market for Indian shrimp exports (traded in dollars) in value terms