(MENAFN- KNN India) Amaravati, Nov 13 (KNN) The Andhra Pradesh government has reduced electricity tariffs for shrimp farmers to boost aquaculture competitiveness and offset disadvantages against global rivals such as Ecuador.

State Human Resources Development Minister Nara Lokesh said the decision was taken after consultations with industry stakeholders to improve cost efficiency in the sector.

“Our closest competitor, Ecuador, had 16 per cent tariffs, creating nearly a 34 per cent difference. After discussions with ministers and the industry, one of the measures we introduced was reducing power tariffs for shrimp farmers from about Rs 4 to Rs 1.5 per unit, providing significant relief,” he said, as reported by TOI.

The minister noted that the move is expected to ease financial pressure on farmers affected by the recent slowdown in shrimp exports following U.S. import tariffs.

Andhra Pradesh, which accounts for nearly one-third of India's seafood exports, has been seeking cost reduction measures to maintain its competitive edge in global markets.

Lokesh added that the government is also exploring new export markets, including Russia and Australia, to diversify opportunities for the state's seafood sector.

Speaking at a press conference, the minister said Andhra Pradesh has secured investment commitments worth USD 120 billion across various sectors, with the potential to generate around 7 lakh jobs.

He noted that each policy introduced by the state government is aimed at promoting industrial growth and employment generation.

The measure is expected to help shrimp farmers recover from the export slowdown triggered by recent US import tariffs.

(KNN Bureau)

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