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India’s marine exports to China heading for $1-bn mark
Business

India’s marine exports to China heading for $1-bn mark

Agency News

New Delhi, Oct 30: India’s exports of marine products to China has tripled and touched almost USD 800 million, in the first nine months of 2019, as per the data released by China’s customs authority recently.

India’s marine exports are expected to cross USD 1 billion mark by the end of this year. A Chinese trade delegation visited India on October 9 and signed a contract for the import of marine products worth USD 500 million in the next two years, according to a Commerce and Industry Ministry statement here on Wednesday.

The Embassy of India, consulates in Shanghai and Guangzhou, under the guidance of the Ministry of Commerce and Marine Products Export Development Authority (MPEDA) has been promoting Indian marine products in China and is engaged with various stakeholders.

In order to pitch for India’s strength in this sector, the Embassy of India organised a promotional event and buyer seller meet on marine products in collaboration with MPEDA on the side lines of China Fisheries and Seafood expo in the coastal city of Qingdao, which is also a major port of imports.

MPEDA Chairman K S Srinivas led a delegation of more than 40 exporters and exporter associations for the expo which witnessed huge response from Chinese importers with more than 50 participants from 25 major importing companies participating in the event. (UNI)