Bhubaneswar: Odisha is set to become a major hub for the ‘Blue Economy’ thanks to the new trade agreement between India and the US. The agreement, which reduces tariffs on Indian seafood exports, is expected to increase demand for Odisha’s shrimp, fish, and other marine foods in the American market, informed Chief Minister Mohan Charan Majhi.
In a social media post, Chief Minister Majhi stated that the agreement will give a fresh identity to Odisha’s marine food economy, transforming the state into a major hub for the ‘Blue Economy’.
The agreement is expected to create new opportunities for Odisha’s seafood exporters, with the US being one of the largest markets for Indian seafood. This move is likely to benefit the state’s coastal region, with fishermen and farmers expected to see an increase in income. The reduction in tariffs will make Indian seafood more competitive in the US market.
Taking to his X handle, CM Majhi wrote: “The new trade agreement between India and America will give a fresh identity to Odisha’s marine food economy. Due to tariff reductions, the demand for Odisha’s shrimp, fish, and marine foods in the American market will increase. Through this, along with an increase in the income of our coastal region’s fishermen and farmers, Odisha will transform into a major hub for the ‘Blue Economy’.
