The session, moderated by MP Mr. Stanislav A. Naumov, Deputy Chairman of the Committee of the State Duma of the Federal Assembly of the Russian Federation for Economic Policy, focused on enhancing strategic cooperation in fisheries and aquaculture among BRICS countries.
Mr. Aggarwal, representing the IBC, addressed the forum highlighting the potential for increased cooperation between India and Russia in the fisheries and aquaculture sector. India, currently the third-largest producer of fisheries and aquaculture globally, contributes 8% to the world’s production. Key exports from India include frozen shrimps, squid, and cuttlefish. Notably, in 2023, India exported shrimps’ worth approximately 13 billion roubles to Russia.
During his address, Mr. Aggarwal emphasized the challenges related to the accreditation of manufacturing companies and certification processes, which are crucial for realizing the full export potential from India. He also proposed the exploration of joint ventures in the aquaculture sector to further strengthen bilateral economic ties.
In addition to the aquaculture discussions, Mr. Aggarwal engaged with various organizations regarding labor migration from India to Russia, particularly for manufacturing industries. He highlighted issues related to work permits, including the time and costs involved in obtaining them. The discussions also covered the migration of highly qualified personnel from India. Several organizations present at the session committed to initiating dialogues with regional and federal governments to address these issues and to organize forums and seminars aimed at liberalizing relevant laws under the auspices of the IBC.
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