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Business News Today: Latest Business News, Finance News

Markets’ dilemma: Trust the bark or wag of oil prices The sector call illusion Bandu’s Blockbusters For April 12, 2026 Mastering Derivatives: Does Lag Impact Effectiveness Of OI? Who Am I? April 12, 2026 Index Outlook: Rising From Dire Straits US Market Outlook: Gaining Strength Bullion Cues: Gold And Silver Futures Face Barrier F&O Tracker: Tentative Shift In Trend F&O Strategy: Buy L&T Put Maruti Suzuki to launch 4 EVs by 2031 India Inc flags surge in cost of packaging raw material, seeks relief measures India-flagged LPG tanker Jag Vikram crosses Strait of Hormuz after US-Iran ceasefire Muted pricing power, rising costs to curb benefits of demand in cement sector: HDFC Securities Iran's new supreme leader Mojtaba Khamenei has severe and disfiguring wounds, sources say No road tax, registration fees for electric vehicles priced up to ₹30 lakh till March 2030: Delhi’s draft EV policy Central Railway to run four special local trains for Ambedkar Jayanti West Asia tensions push up costs for India; further impact hinges on stability: Report ED initiates fresh raids against former Bengal minister Chatterjee in teacher recruitment scam Election Commission reverses Mittal’s DVAC posting, appoints him DGP, TN Armed Police Israel and Lebanon are expected to hold talks. Here’s what to know US, Iran set for peace talks but doubts emerge over Lebanon, sanctions Cotton Association revises output estimates for 2025-26 up at 324 lakh bales of 170 kg each Orbicular gets USFDA’s tentative nod for generic Semaglutide Injection in partnership with Apotex Malls, high-streets in NCR clock 45% rise in leasing of retail spaces in Jan-Mar: C&W FIIs pull ₹28,375 crore in five sessions; domestic buyers cushion fall as indices post best week in months Nifty and Bank Nifty Prediction for the week 13 Apr’26 to 17 Apr’26 by BL GURU Proposed Trump arch in Washington DC includes winged figure, eagles, lions and gold inscriptions 'Ladakh' replaces 'Jammu and Kashmir' in Aadhaar records for UT residents Misri ends US trip with focus on civil nuclear cooperation and LPG exports Artemis II astronauts return to Earth after historic lunar flyby and Pacific splashdown US-Iran peace talks in Pakistan: What will be discussed? 5paisa Capital's ₹469 crore rights issue oversubscribed 1.24 times Shriram Finance’s credit rating climbs after MUFG investment SEBI chief reaffirms open-door policy for global capital Reliance seeks government approval to buy Iranian crude oil US Vice President Vance arrives in Pakistan for crucial peace talks with Iran EU condemns ‘illegal’ Israeli expansion: 30 new West Bank settlements spark global outcry US intelligence indicates China preparing weapons shipment to Iran Agtech marketing in the age of regional content and creator communities Rajnath Singh, Nitin Gadkari to join 3-day agri event at Shivraj’s home turf, inaugurated today How agripreneurship will drive improved rural livelihoods in India World’s largest tur producer, yet an importer: A self-sufficiency puzzle unfolding on ground Ethanol in diesel generators: India’s next practical step towards energy security How sustainable sourcing can unlock value in India’s agri-value chains SEBI launches three new IT platforms to transform regulatory landscape India allows Iranian oil tankers to berth at Sikka port under special exemption US expected to extend waiver for Russian oil imports amid global energy price concerns India, Japan discuss Strait of Hormuz security Editorial. 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India to start issuing permits for high sea fishing by companies, vessels
2026-04-27 · via Business News Today: Latest Business News, Finance News

Recognising the global demand for Indian deep-sea fishing expertise, the Indian government is set to launch a new “Letter of Authorisation” (LoA) scheme as early as next month. This policy will permit Indian firms and vessels to operate in the high seas, extending the same regulatory framework currently applied within the Exclusive Economic Zone (EEZ).

The move aims to formalise Indian participation in international waters, where European vessels are currently active, and to retain skilled local fishermen often recruited by countries like Iran and Oman. Recently, the government said that 657 Indian fishermen have been moved out of Iran into Armenia and Azerbaijan since the West Asia war began on February 28.

Official sources said that Iran, Oman and some other countries in the Gulf region started deep-sea fishing 8-10 years ago, for which they recruited Indian fishermen, mostly from Tamil Nadu and Kerala, for their expertise.

Driven by expertise

Industry sources indicate that Indian fishermen are a mainstay of Iran’s fishing sector, frequently recruited through both formal and informal channels. This high demand is driven by their formidable reputation for expertise in deep-sea operations.

Joseph Xavier Kalappurackal, general secretary of the Federation of Fishing Boat & Fishing Industries of Kerala, told businessline that many Iranian companies recruit Indian fishermen for their ability to operate in challenging marine conditions. A majority of these workers hail from Colachel and Thoothoor in Tamil Nadu and are known for their seamanship, technical skills, and willingness to venture into deep waters.

Indian crews often operate in the northern stretches of the Arabian Sea, an area rich in marine resources. Its proximity to the Strait of Hormuz has made it easier for fishermen to engage in operations linked to Iranian waters. Highlighting their global footprint, Kalappurackal said that Indian fishermen have also demonstrated their capabilities in distant regions such as Diego Garcia, located about 4,500 km from Kochi.

New rules

In November, the Centre notified new rules for deep-sea fishing in the EEZ, banning foreign vessels from operating in Indian waters and a National Plan of Action to deter illegal fishing practices in the Indian EEZ. It introduced an Access Pass for mechanised and large-sized motorised vessels, though traditional and small-scale fishers are exempted. So far, about 4,000 such passes have been issued, sources said.

India, the world’s second-largest fish producer with an 8 per cent share in global output, has around 2.38 lakh registered fishing vessels across 13 coastal States and Union Territories, of which 1.72 lakh small vessels are exempt. But 64,187 mechanised fishing vessels will be required to obtain Access Passes for deep-sea fishing.

“Unlocking high-sea fishing potential will bring in more opportunities for Indian fishermen so that they can get the same level of earnings here rather than working overseas. Besides, if Chinese and European vessels are fishing in the Indian Ocean, why not India?” an official said, adding the government has made a lot of changes to create a business atmosphere so that investment happens in high sea fishing.

Visa rules eased

The changes included not treating the marine products from high seas as imports once they enter Indian territory and also treating those under export if they get delivered in other countries from the high sea itself without entering Indian boundary. Besides, visa rules have been relaxed for technical staff required to operate and train Indian staff in such specialised vessels, the sources said.

Meanwhile, Union Fisheries Secretary Abhilaksh Likhi, who is leading an official delegation at the four-day World Small-Scale Fisheries Congress in Thailand, said that small-scale fisheries are central to food security, livelihoods, cultural identity and coastal economies, particularly in the Bay of Bengal region. He highlighted the diverse and context-specific nature of small-scale fisheries, underscoring the need for governance frameworks that recognise varied local realities and ensure inclusion of marginalised groups across the value chain, according to an official statement.

In India, small-scale fisheries (SSF) dominate marine fishing activities, with around 4 million marine fishers operating largely within territorial waters up to 12 nautical miles. The sector faces challenges such as near-shore fishing pressure, climate risks and market volatility.

Published on April 27, 2026