Indian Finance Minister Nirmala Sitharaman announced financial support for the country’s shrimp industry by reducing customs duties and supporting the establishment of a network of nucleus breeding centers for shrimp broodstocks.

Custom duties for fish and shrimp feeds have been reduced from 15% to 5% and vannamei and monodon broodstock from 10% to 5%, among others.

“The budget is positive to a certain extent. The reduction in customs duty is beneficial,” Ravi Kumar Yellanki, president of the All India Shrimp Hatchery Association, told local news. “This is a welcome relief for the hatchery sector. The support for the nucleus breeding center is also promising, however, we are awaiting more details. Overall, the budget is a positive development, especially considering the current challenges faced by the industry.”