India's Seafood Exporters Urged to Venture Beyond US Tariffs, Explore New Markets
Indian seafood exporters are encouraged to explore alternative markets like the EU, Japan, and South Korea due to high US tariffs. The government emphasizes improving value addition and packaging, and suggests using the Fishery Infrastructure Development Fund. Exporters are also adapting to the changing scenarios by focusing on different avenues.
- Country:
- India
The Indian government has called on seafood exporters to seek new markets amid burdensome US tariffs.
Union Minister Rajiv Ranjan Singh highlighted opportunities in countries like the EU, Japan, and South Korea during a press briefing.
He urged the improvement of value-addition and packaging standards to bolster exports.
Additionally, Singh advised utilizing the Fishery Infrastructure Development Fund to modernize facilities.
The Marine Product Export Development Authority is set to facilitate exporters in major states to prepare for new markets, identifying specific fish varieties for broadening their scope.
Despite challenges, exporters are exploring new pathways without seeking financial aid, aligning with recent government sentiments on safeguarding farmers' interests.
Suggestions for the Pradhan Mantri Matsya Sampada Yojana during the 16th Finance Commission session emphasize the continuous quest for sustainable fishing practices.
(With inputs from agencies.)
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