October 13, 2025

India is on a mission! The country is tackling a massive 65-plus non-tariff barriers that block its marine and agricultural exports to Russia. This bold move aims to reduce a whopping $59 billion trade deficit with the country. What’s the fuss about? Well, Indian frozen shrimp and prawns exports to Russia in 2024-25 were $123 million, but only registered units are allowed to supply shrimp to Russia. An official, who preferred to stay unnamed, said, "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." Russia has opened the door to some Indian mangoes and bananas, but the big hurdle remains the approval of marine product factories for shrimp exports. This step is super important since the US slapped a 50% tariff on Indian shrimp, and now India wants to diversify exports to Russia. But there’s more! Russia is part of the Eurasian Economic Union (EAEU) with Belarus, Kazakhstan, Kyrgyzstan, and Armenia. India and the EAEU signed terms to start talks for a free trade agreement. "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," added the official. Besides shrimp, India sees golden chances in selling frozen fish meat, rock lobster, sea crawfish, cuttlefish, and squid to Russia. Countries like Vietnam, Ecuador, and Indonesia are already key players there. To cut that stubborn trade gap, India’s commerce and industry ministry reached out to industries. They discussed customs and paperwork challenges, freight issues reaching Russia, and tricky banking and payment problems. The talks also explored growing exports and potential joint ventures. India’s trade game with Russia is heating up, promising more than just mangoes and spices—soon, it could be seafood and farm products swimming and flying their way to Russian markets with fewer hurdles!

Read More at Economictimes →

Tags: India-russia trade, Non-tariff barriers, Marine exports, Shrimp exports, Eurasian economic union, Trade deficit,