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Budget 2019: Interest subvention to ease pricing pain, push fishery exports

Subvention for fisheries comes at a time when Indian shrimp exporters are facing stiff competition from Ecuador, Indonesia and Vietnam and volume growth is expected to slow down this year

India largest seafood exporter in 2016: FAO

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Nirmalya Behera Bhubaneswar

Last Updated : Feb 01 2019 | 10:38 PM IST

Stakeholders in the seafood industry expect that the two per cent interest subvention announced in the Interim Union budget for 2019-20 for farmers in animal husbandry and fisheries will lead to increased shrimp production and exports.

India is one of leading exporters of shrimp in the world market, having exported about 600,000 tonnes in 2017-18. Total seafood exported from India was valued at Rs 45,000 crore.

"The Government of India's budget announcement of setting up a separate Department of Fisheries is positive for the Indian aquaculture industry as it would lead to prioritization and more focused follow up on the

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