Seafood exporters urged to find new markets amid US tariffs
What's the story
In light of the recent hike in US tariffs, the Indian government has urged seafood exporters to look for alternative markets. Union Minister for Fisheries Rajiv Ranjan Singh made the announcement at a press conference on Monday. He said countries and regions like the EU, Japan, South Korea, the UK, Russia, Australia, West Asia, and Southeast Asia are potential new destinations for India's seafood exports.
Market readiness
Need for value addition and packaging
Singh stressed the importance of improving value addition and packaging before entering these new markets. He said, "We have told them that before reaching other markets, there is a need to improve value addition and packing." The minister also urged exporters to leverage the Fishery Infrastructure Development Fund for upgrading their facilities.
Support system
MPEDA to assist exporters
The Marine Product Export Development Authority (MPEDA) has been tasked with helping exporters prepare for these new markets. The authority will identify specific fish varieties and help modernize processing and packing infrastructure. This move is part of the government's broader strategy to tackle export concerns amid rising tariffs on Indian goods by the US.
Market exploration
Other initiatives to boost seafood exports
Singh said exporters have started looking at new markets and have made some suggestions for inclusion in the Pradhan Mantri Matsya Sampada Yojana (PMMSY). The government has also released draft guidelines on fishing in high seas and Exclusive Economic Zones, inviting public comments within a month. This is expected to further boost India's seafood exports by harnessing fisheries such as tuna fish in the Lakshadweep islands and Andaman and Nicobar.