Summary
India is actively resolving over 65 non-tariff barriers affecting its marine and farming exports to Russia, intending to minimize a substantial trade deficit. Secret issues consist of acquiring approval for Indian marine item systems for shrimp exports, a vital action for diversifying deliveries after United States tariffs.
India has actually recognized more than 65 non-tariff barriers dealt with by its marine exports to Russia along with the difficulties that its farming exports undergo, as it intends to decrease the trade deficit with the nation, stated authorities.
“India is taking up with Russia the issue of non-tariff barriers. Most are in agriculture and marine,” stated among the authorities, who did not want to be recognized.
While Russia has actually opened to some ranges of Indian mango and bananas in the previous couple of years, one essential issue refer to the approval of marine item systems from India for shrimp exports. India’s items exports to Russia in 2024-25 amounted to $4.88 billion, of which frozen shrimp and prawns exports totaled up to $123 million.
An early settlement of the non-tariff difficulties is essential for India as it had a $59 billion trade deficit with Russia in 2024-25.
“Only registered entities can supply shrimp to Russia and we have been trying to get the issue resolved. The EU has also given registration for many of our units,” the authorities stated.
Russia, as part of the Eurasian Economic Union (EAEU), has actually firmed up the structure for a trade arrangement with India. The EAEU makes up Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia.
India and the EAEU have actually signed the regards to referral to introduce settlements on an open market contract, developing the structure and concerns for talks targeted at increasing trade and financial investment.
“Early resolution of the non-tariff barriers is important as it will also be a good background for the trade deal negotiations and Russia is the largest member of the bloc,” the authorities stated.
Repairing the concern is essential for diversifying India’s shrimp exports, which have actually been struck hard by a high 50% tariff enforced by the United States.
India likewise sees a chance in exporting more frozen fish meat, frozen rock lobster, sea crawfish, cuttlefish and squid to Russia, where Vietnam, Ecuador and Indonesia are a few of the crucial providers.
In a transfer to minimize the trade space, the commerce and market ministry has actually connected to market on customizeds clearance and documents obstacles, freight problems in reaching Russia and banking-related troubles, specifically payment systems, besides crucial item sections for export growth and the possibility of joint endeavors.
