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Nirmala announces incentives for marine sector under MEIS

Commerce Minister Nirmala Sitharaman today announced a raft of measures, including setting up of agencies for aquaculture and fisheries in all coastal states and export incentives for marine products, under the Merchandise Exports from India Scheme (MEIS).

September 24, 2016 / 11:10 AM IST

Commerce Minister Nirmala Sitharaman today announced a raft of measures, including setting up of agencies for aquaculture and fisheries in all coastal states and export incentives for marine products, under the Merchandise Exports from India Scheme (MEIS).

Under the MEIS, government currently allocates Rs 22,000 crore annually for exports.

"From this financial year onwards, an additional Rs 1,500 crore will be allocated under the scheme that will include certain marine and seafood items," Sitharaman said at the India International Seafood Show here.

A Commerce Ministry statement said the agencies for aquaculture and fisheries, under the guidance of the chief ministers and headed by the states' chief secretaries, will be under the aegis of the Marine Products Export Development Authority (MPEDA), the nodal body for marine exports under the ministry.