The European Union has approved 102 additional Indian marine establishments for exports. This move provides an immediate 20 percent boost to India’s seafood exports to the bloc. Government officials confirmed this significant development for the industry.
It comes at a crucial time for India’s seafood export sector. Exports to the EU stood at USD 1.1 billion in FY24. The EU is a vital market for the domestic fishing industry.
With this approval, a total of 604 Indian establishments are now listed with the EU. This expansion marks a major step forward. It enhances trade capacity significantly.
The announcement coincides with the 13th round of Free Trade Agreement negotiations between India and the EU. This signals growing confidence between the two trading partners. It reflects a positive diplomatic and economic atmosphere.
A Commerce Ministry official stated that the development shows EU confidence in Indian standards. It also reflects significant improvements in those standards. This approval is a testament to rigorous compliance efforts.
The official emphasized that this reflects overall optimism between India and the EU. It serves as an important confidence-building measure. Such developments strengthen bilateral relations.
This approval is viewed as more than just a trade facilitation measure. It is a big boost for Indian exports, according to the Commerce Ministry. Numerous meetings have been held to resolve non-tariff measures.
Officials believe it will smooth FTA negotiations. Both sides are working to address trade barriers. Enhancing bilateral commerce remains a key goal.
The timing is particularly significant for India’s shrimp sector. This segment has been among the worst-affected by recent US tariff measures. The new EU approvals provide much-needed relief.
Shrimp exporters gain alternative market access. They have been seeking to diversify their export destinations. This helps mitigate risks from other markets.
All major seafood establishments are now listed for EU exports. Indian exporters will have expanded capacity to meet European demand. This covers various marine product categories.
The EU is the second-largest market for Indian seafood exports. The United States is the largest, followed by China and Japan. Vietnam and Thailand are also key destinations.
The fisheries listing is a significant development for the industry’s growth trajectory. It represents one of the largest single additions to India’s EU-approved facility list. This could transform the scale of bilateral seafood trade.
This expansion promises a brighter future for Indian seafood exports. It opens new opportunities for growth and stability.