Business
India Eyes Seafood Export Revival As EU, Russia, Australia Open Doors Amid US Tariff Shock
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Australia, which had restricted imports due to white spot virus concerns, has now permitted unpeeled shrimp from Andhra Pradesh for the first time in 8 years
The EU remains a premium market for shrimp and fish, and renewed access is expected to raise earnings for farmers and exporters. (AP Photo)
Indian seafood exporters, particularly those in Andhra Pradesh, are set for a significant boost as the government resolves longstanding trade issues with major international markets, offering relief after a sharp US tariff hit earlier this year.
In August 2025, the United States imposed nearly a 50% tariff on Indian seafood, including shrimp, effectively curbing exports from states like Andhra Pradesh, which account for nearly 80% of India’s total shrimp shipments. The tariffs, which touched as high as 59.72%, were partially in response to India’s continued imports of Russian crude oil, and posed a serious threat to the livelihoods of farmers and exporters alike.
Union Commerce and Industry Minister Piyush Goyal said that the government has proactively addressed these challenges by reopening access to alternative markets. Speaking to the Economic Times on the sidelines of the CII Partnership Summit in Visakhapatnam, Goyal noted that India had “ironed out problems with the European Union”, which had imposed a 9-year ban on Indian seafood over quality control concerns.
“Now, 102 fisheries have received approval to export to the EU,” he said, highlighting growing confidence in India’s food safety and quality assurance systems. The EU remains a premium market for shrimp and fish, and renewed access is expected to raise earnings for farmers and exporters.
Russia: Strategic Expansion
Russia has emerged as a key alternative market. Goyal stated that final approvals are underway for 25 Indian fisheries, with further approvals expected. Expanding trade with Russia not only offsets losses from the US market but also strengthens geopolitical and energy ties, reinforcing India’s diversified trade strategy.
Australia Reopens After 8 Years
Australia, which had restricted imports due to white spot virus concerns, has now permitted unpeeled shrimp from Andhra Pradesh for the first time in eight years. This move is expected to enhance India’s brand image in premium seafood markets and open avenues for processed seafood exports.
Economic Implications
With these new openings, India’s $7.4 billion seafood sector could see a 20-30% increase in exports. The government aims to raise overall exports to $12-14 billion by FY26, boosting foreign exchange earnings and reinforcing the sector’s contribution to GDP. For Andhra Pradesh, where the bulk of shrimp production is concentrated, the diversification of export markets is expected to stabilise prices and protect millions of jobs.
Geopolitical Resilience
The recent developments underline India’s ability to navigate international pressure. Faced with punitive US tariffs, the country has successfully leveraged alternate markets, strengthening trade ties with Russia, re-establishing access to Australia, and resolving longstanding EU barriers. These steps not only safeguard the domestic seafood sector but also highlight India’s strategic approach to global trade amid shifting geopolitical dynamics.
November 17, 2025, 17:25 IST
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Business
‘Side Hustle Generation’: Over 50% Of US Gen Z Opting For Extra Gigs Amid Economic Uncertainty
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At least 57% of Gen Z in the US now have side gigs, from retail to gig work, amid economic uncertainty and concerns over the impact of AI on jobs.
Gen-Z is the first generation for whom a 9-to-5 job isn’t essential for achieving financial success. (AI-Generated Image)
Amid widespread economic uncertainty, more than half of the Gen Z population in the United States is opting for side gigs to navigate the job market and for extra cash.
At least 57% of Gen Z in the US now have side gigs, compared to 21% of boomers and older, according to The Harris Poll, which dubbed them “America’s first true ‘side hustle’ generation.”
Most of them are picking up side hustles, from retail to gig work, for extra cash. Younger people “want to work [and] find success, but many of them just feel disillusioned with the opportunities to get there through the traditional career ladder,” Glassdoor chief economist Daniel Zhao told Axios.
Role Of AI
In an August report, Glassdoor researchers said that some of the youths are chasing creative or entrepreneurial goals. Moreover, AI and other technological advances have made it easier for professionals to monetise their skills and passions.
“We’re witnessing a true side hustle generation where work identity lives outside of traditional employment. Additional commentary and research also shows that there’s a growing number of Employee+ workers who diversify income streams without abandoning job security,” Glassdoor said.
“For Gen Z, the day job funds the passion project. Work pays the bills, but identity and fulfilment can come from entrepreneurial pursuits, creative endeavours, or social causes they care about,” it added.
Why Are Gen-Z Opting For Side Gigs?
One of the main reasons for this shift is job anxiety. Recent graduates are struggling to secure jobs, while those with them aren’t seeing the career growth they expect, according to Zhao.
Data shows that the financial optimism for college students has fallen to their lowest level since 2018, mostly due to concerns over unemployment and ‘AI-induced layoffs’. The advent of AI remains the most pressing concern among young workers.
As per The Harris Poll, Gen Z is the first generation for whom a 9-to-5 job isn’t essential for achieving financial success. Side hustles are not merely distractions or fallback options; they are central to Gen Z’s identity, offering creative, entrepreneurial, or activist outlets that main jobs cannot supply.
“It definitely makes me feel more financially secure,” Katie Arce, who works full-time in e-commerce and picks up shifts at a vintage clothing store in Austin, Texas, told Axios.
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United States of America (USA)
January 11, 2026, 17:08 IST
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PM Modi further emphasised that over the past 11 years, India has emerged as the largest data consumer and built the country’s largest real-time digital platform.
PM Modi speaking at the inauguration of Vibrant Gujarat Regional Conference. (PTI)
Prime Minister Narendra Modi on Sunday said that India’s political stability and strong macroeconomic fundamentals are driving global investor confidence, with Gujarat emerging as a key anchor of the country’s growth story.
While addressing the Vibrant Gujarat Regional Conference in Gujarat, the Prime Minister highlighted India’s economic trajectory, saying that the country is the world’s fastest-growing major economy, with inflation under control and a strong foundation for long-term growth. He said that reform express is driving India’s journey to developed nation status.
He highlighted that India is the largest producer of milk and a leading manufacturer of generic medicines, reflecting the country’s growing strength in both agriculture and pharmaceuticals.
VIDEO | Rajkot: PM Modi (@narendramodi) says, “India is the world’s fastest-growing large economy and inflation is under control. Agricultural production in India is setting new records, and the country ranks number one in milk production. India is also the world’s largest… pic.twitter.com/R6f7tDhoZD— Press Trust of India (@PTI_News) January 11, 2026
He noted that global institutions are increasingly bullish on India, with the International Monetary Fund (IMF) describing the country as the engine of global growth.
“India is the world’s 3rd largest startup ecosystem, 3rd largest aviation market, we are in the top 3 metro networks of the world,” he said, asserting that the country is heading to become the world’s 3rd largest economy.
PM Modi further emphasised that over the past 11 years, India has emerged as the largest data consumer and built the country’s largest real-time digital platform. He highlighted that India is now the second-largest mobile manufacturer, whereas earlier the country imported nine out of ten phones.
The Prime Minister also underlined Gujarat’s contribution to India becoming the world’s third-largest economy, noting that the state has grown across sectors. He said regions like Saurashtra and Kutch, once seen as remote, have now become major drivers of Atmanirbhar Bharat and investment-led growth.
Highlighting Saurashtra’s manufacturing strength, with over 2.5 lakh MSMEs producing goods ranging from basic tools to high-precision aircraft components, PM Modi pointed to the region hosting the world’s largest ship-breaking yard and being a major hub for tile manufacturing.
He further said that India’s first semiconductor fabrication plant is coming up in Dholera, with the land ready and a predictable policy environment supporting long-term growth.
Vibrant Gujarat Regional Conference
PM Modi on Sunday inaugurated the Vibrant Gujarat Regional Conference for the Kutch and Saurashtra regions.
The event saw the presence of Gujarat Chief Minister Bhupendra Patel and Deputy Chief Minister Harsh Sanghavi, among other dignitaries.
He also inaugurated 13 New Smart Industrial Estates in 7 Districts (Amreli, Bhavnagar, Jamnagar, Kutch, Morbi, Rajkot and Surendranagar) spanning an area of over 3540 Acres by Gujarat Industrial Development Corporation before his address on Sunday.
The two-day conference summit will highlight Gujarat’s leadership in the clean energy sector and its alignment with India’s ‘Panchamrit’ commitments announced by the Prime Minister. These include achieving 500 GW of non-fossil energy capacity by 2030, meeting 50 per cent of energy requirements from renewable sources, reducing projected carbon emissions by 1 billion tonnes, lowering carbon intensity by 45 per cent by 2030, and attaining net-zero emissions by 2070.
Rajkot, India, India
January 11, 2026, 16:22 IST
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Business
‘You’ve Restored India’s Civilisational Self-Belief’: Mukesh Ambani Praises PM Modi At Vibrant Gujarat
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Reliance Industries chairman and managing director Mukesh Ambani said PM Narendra Modi’s vision has reshaped India’s trajectory for the next 50 years
Reliance Industries chairman and managing director speaks at the Vibrant Gujarat Regional Conferences on January 11, 2025. (Image: Vibrant Gujarat/YouTube)
Reliance Industries chairman and managing director Mukesh Ambani had high praise for Prime Minister Narendra Modi, who inaugurated the Vibrant Gujarat Regional Conference for the Kutch and Saurashtra regions on Sunday.
Ambani said Modi’s vision has reshaped India’s trajectory for the next 50 years, while also restoring the country’s “civilisational self-belief”.
“Most respected prime minister, you have restored to India its civilisational self-belief. Never in history of India have we seen so much hope, self confidence, and so much vibrancy as we do now,” Ambani said during his address at the conference.
Congratulating Modi for the “great honour for Saurashtra and Kutch” that he was personally present, he started his address by referring to the prime minister’s visit to Somnath temple for the ‘Somnath Swabhiman Parv’ earlier in the day.
“Let me start with ‘Jai Somnath’. The positive vibrations from our dear prime minister’s prayers from Somnath are resonating across Gujarat and India. I congratulate our PM for the great honour for Saurashtra and Kutch that he is personally present for the Vibrant Gujarat regional summit (conference). After 20 years in Gandhinagar, we are privileged to take part in the regional summit here in Rajkot,” he said.
Ambani said history will record the “Modi era” as when India moved from “potential to performance, aspiration to action, follower to becoming a global force”.
“Your (Modi’s) vision has reshaped India’s trajectory for the next 50 years and more. History will record that the Modi era is when India moved from potential to performance, from aspiration to action, from being a follower to becoming a global force,” he said.
Calling Modi the “invincible, protective wall” of India, he said the PM is the reason why global challenges cannot “touch or trouble” the country.
“All of us know that the world is changing very fast, the geopolitical situation is creating new challenges including some unexpected turbulence but what is reassuring for India is that these challenges can’t touch or trouble our people. This is because India has the invincible, protective wall called Narendrabhai Modi. Let the world know that this is India’s defining decade, under the PM’s leadership, India’s not just preparing for the future but India’s shaping it,” he added.
Modi inaugurated the event in the presence of Gujarat Chief Minister Bhupendra Patel and deputy CM Harsh Sanghavi, among other dignitaries. The two-day conference will highlight Gujarat’s leadership in the clean energy sector and its alignment with India’s ‘Panchamrit’ commitments announced by the PM.
These include achieving 500 GW of non-fossil energy capacity by 2030, meeting 50 per cent of energy requirements from renewable sources, reducing projected carbon emissions by 1 billion tonnes, lowering carbon intensity by 45 per cent by 2030, and attaining net-zero emissions by 2070.
(With agency inputs)
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Rajkot, India, India
January 11, 2026, 15:43 IST
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