THOOTHUKUDI: Amid the 50% tariff imposed by the US on Indian goods, the Tamil Nadu Seafood Exporters Association of India (SEAI) welcomed the efforts of the Union Ministry of Commerce and Industry to get approval from the European Union (EU) for exporting seafood from Indian companies.
According to a release by the Ministry of Commerce and Industry, the EU has listed 102 new Indian fishery establishments for export from India to EU member countries in pursuance of the efforts of the Union Minister Piyush Goyal.
“It is a significant development for India’s seafood industry and a major step in enhancing market access for seafood products, especially aquaculture shrimps, cephalopods like squid, cuttlefish, and octopus. It is expected to boost export volumes, generate employment, and enhance foreign exchange earnings,” the statement released on September 9 said.
SEAI-TN Region president C Selwin Prabhu told TNIE that the EU had remained idle on processing the new applications seeking approval for export for the past couple of years.
At this time, when the industry is affected by the tariff, granting approvals for new companies would enable them to discover the EU market. The EU has a market share of Rs 12,000 crore, after the US and China.
Seafood industry insiders told TNIE that this may not be an alternative for the US market; however, it will aid the new exporters in other coastal states. All of the TN exporters, except one or two, are already approved and renewed by the EU periodically, they added.
An MPEDA official said that the EU had taken into confidence the mechanisms implemented by the Export Inspection Council (EIC). Indian seafood exports must meet stringent international standards, particularly those laid down by the EU, the official added.