EU lists 102 Indian fisheries establishments, boosting marine exports

In a major relief for India’s marine products sector, the European Union (EU) has approved 102 new Indian fisheries establishments for exports to the EU. Marine products, already impacted by 50% US tariffs, rely heavily on global markets.

While the US remains India’s top destination for marine exports, the EU is the second-largest market, followed by China, Japan, and Vietnam. This development is expected to cushion Indian exporters, who shipped $2.5 billion worth of marine products to the US in FY 2023-24, accounting for 34.5% of total exports in the segment.

The move adds 16% more Indian export establishments in terms of trade volume. The Commerce Ministry anticipates an immediate rise of over 20% in trade volume. India’s marine exports to the EU were valued at $1.1 billion in FY 2023-24.

Highlighting the potential boost for aquaculture and shrimp exports, the Commerce Ministry noted that India had been engaging EU counterparts over the past three months to address Sanitary and Phytosanitary (SPS) issues. European authorities reviewed risk assessments at approved establishments, including feed, cutting processes, and cold storage.

Following technical-level meetings and negotiations, all establishments previously delisted due to contamination concerns have now been reinstated. The Commerce Ministry called the move a testament to confidence in India’s standards and procedures and a positive signal for the 13th round of ongoing Free Trade Agreement (FTA) negotiations between India and the EU.