The European Union’s decision to allow seafood exports by 102 new Indian entities has helped boost the shipment of prawns and other frozen shrimps to the members of the trading bloc.
Exports have increased 55% to $448 million during April-Oct, from $290 million in the corresponding period last year, data available with the commerce department showed. This has also helped offset a part of the impact of US tariffs of 50% in Indian exports, with shrimps being one of the key product categories to have been affected.
“This significant expansion reflects the growing confidence in India’s food safety and quality assurance systems and marks a major step forward in enhancing market access for Indian seafood products, especially aquaculture shrimps and cephalopods. The listing of 102 establishments is not only a recognition of India’s strengthened regulatory and quality-control mechanisms but also a strategic opportunity to scale up exports to EU markets,” said an official, adding that there will be sustained growth in export of shrimps and prawns in the coming months.
In April-Sept, India’s goods exports to EU have declined 4.7% to $ 37.1 billion, although there has been some recovery in recent months. After falling in first quarter, exports to EU grew at nearly 7% during July and Aug and by 0.9% in Sept, although it again fell 14.5% in Oct.