Kerala fisheries crisis: Seafood exporters seek govt support
Kochi: Seafood Exporters Association of India (SEAI), Kerala region, sought immediate govt assistance to address a severe crisis affecting the livelihoods of 1.4 million people in the state, following environmental difficulties and export-related challenges.
SEAI Kerala president, Premachandra Bhat, said Kerala has declined from its position as the leading seafood exporter to fifth place, primarily due to environmental impacts. The state's 590km coastline and nine coastal districts have seen fishing days reduced from 300 to 100 annually. This reduction is attributed to poor weather, fishing restrictions and the current 52-day trawling ban until July 31. The situation worsens as foreign factory vessels from China and Taiwan continue illegal fishing during restricted periods, diminishing local marine resources.
"We urgently need stronger coastal surveillance and regulatory enforcement. While our fishermen face strict restrictions, foreign vessels continue to plunder our seas unchecked," Bhat said.
He emphasised the critical need for increased domestic production. "Shrimp is the crown jewel of our exports. But without adequate raw material, even the most advanced processing facility becomes nothing more than a silent warehouse," he warned, advocating for govt support in commercial aquaculture and sustainable shrimp farming.
Bhat identified the implementation of Turtle Excluder Devices (TEDs) in trawl nets as a crucial priority, essential for marine conservation and maintaining access to environmentally conscious markets like the United States. "We have the technology. We have the necessary approvals. What we now need is administrative will—an urgent push to implement TEDs without further delay," he said.
Global challenges, including transport disruptions, the Russia-Ukraine war, Middle East tensions and shipping route instability, are pressuring Indian seafood exporters to maintain competitiveness against China, Vietnam, Indonesia and Ecuador.
Kerala's industry continues to advance through initiatives like the Plastic-Free Seas Project, where fishermen collect marine plastic waste for proper disposal.
"This is a model for the nation. It proves that sustainable practices and profitability can go hand in hand," Bhat added.
Women constitute 80% of Kerala's fish processing workforce, operating in over 850 peeling sheds and 100 processing units. Highlighting the sector's significance as a women-oriented industry in Kerala, SEAI said there is a need for year-round employment.
The association requested improved access to working capital loans for raw material procurement during peak seasons and continuous processing in lean periods.
"When you support this industry, you are not just protecting exports—you are empowering thousands of women and securing countless family incomes," he said, adding that the govt should utilise Kerala's NRI-supported banking system to provide targeted assistance for fish processing facilities.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
40 minutes ago
- Mint
When diversification backfires: Four Indian companies walking a fine line
Diversification is a well-worn corporate strategy. Done right, it can help companies de-risk operations, tap new revenue streams, and create lasting shareholder value. Done poorly, it can distract management, strain capital, and ultimately erode core businesses—a phenomenon legendary investor Peter Lynch once dubbed "diworsification." Several marquee Indian companies are now testing that fine line between smart expansion and costly distraction. Grasim's recent move into paints, UltraTech's foray into cables and wires, and IndiGo's venture into hotels have raised eyebrows. But in each case, there's a strategic logic: Grasim and UltraTech can leverage their existing cement distribution networks, while IndiGo's established travel brand can extend naturally into hospitality. Others, however, have ventured into businesses far afield from their core competencies—often with damaging results. Read this | Company Outsider: The Gensol-BluSmart fiasco shows the dangers of reckless diversification Here are four listed Indian companies that show how overextension can strain even established businesses. Unitech: Diversification derailed the core By the early 2000s, Unitech had cemented its position among India's top real estate developers, with residential complexes, commercial projects, and amusement parks sprawled across more than 14,500 acres. Following India's 2005 liberalization of foreign investment in real estate, Unitech drew substantial foreign interest and saw its stock soar by 3000% in a year. Flush with cash, the company ventured into telecom in 2007. But the global financial crisis hit its real estate business hard, and the telecom bet proved disastrous. The venture saddled Unitech with crippling debt. The 2G spectrum scandal that followed led to cancelled licences, criminal charges against its promoters, and the forced sale of its telecom operations. At its peak, the company owed ₹8,000 crore in debt. The collapse spilled into its core real estate business: stalled projects, mounting client complaints, regulatory interventions, and severe brand erosion. Though Unitech has since pivoted back to real estate, it faces a long road to recovery from the debt burden, reputational damage, and years lost chasing an ill-fated diversification. OK Play India: Stretching to thin OK Play began as a manufacturer of water tanks, but over time expanded into a disparate set of businesses: toys, auto components, delivery boxes, mannequins, and electric three-wheelers. Management has cited plastic as the common thread—but the reality has been less convincing. The company struggled to leverage any synergies between these businesses, failing to transfer brand strength, manufacturing capabilities, or distribution scale across segments. Its core toy business continues to drive most of its revenues, while newer ventures have mostly added losses and distraction. Despite management's stated goal of doubling toy revenues annually and targeting 15-20% growth in other segments, its history of losses casts doubt on such projections. Recent expansions into home décor and air purifiers only raise further concerns. For OK Play, focus on profitable segments rather than new distractions appears critical. Patanjali Foods: Early signs of overreach Investor favourite Patanjali Foods, once an edible oil company, has successfully transformed into a broader FMCG player by acquiring foods and home & personal care businesses from its parent. Today, it ranks as India's third-largest FMCG company by revenue. However, while it has climbed the revenue ranks, profitability remains a weak spot. Revenues have also been vulnerable to volatile edible oil prices. The growing contribution of higher-margin segments has eased some of those concerns, and after several years of underperformance, the stock has been outperforming since June 2023. But recent moves have raised concerns that Patanjali may be drifting into 'diworsification." Its investment in wind power generation has already resulted in intermittent losses. Even if that can be justified as captive green energy for its core operations, its more recent forays into construction and infrastructure with KBC Global, and insurance with Magma General Insurance, mark clear departures from its core strengths. How management navigates these ventures remains to be seen. Balmer Lawrie: Overdiversification hits PSUs too Established in the pre-independence era, Balmer Lawrie is now a central PSU under the Ministry of Petroleum and Natural Gas, classified as a Miniratna-I company. As the company itself puts it, there is scarcely a business it hasn't ventured into. It has ventured into tea, shipping, insurance, banking, and manufacturing over the years. Today, it operates across eight strategic businesses spanning manufacturing and services. Its manufacturing portfolio includes industrial packaging, greases and lubricants, and chemicals, alongside refinery and oil field services. While some of these businesses are adjacent, the company's sprawling portfolio suggests an overextension of its operating focus. Read this | How ITC and BAT's divergent diversification strategies flipped the narrative In its travel vertical, Balmer Lawrie offers services ranging from travel planning, ticketing, forex, and hotel bookings to visa processing and travel insurance. It also runs logistics operations, including cold chain logistics and door-to-door freight forwarding. While logistics contributes a fifth of the company's revenues, its subsidiary, Visakhapatnam Port Logistics Park, has been a drag on profitability. The travel vertical has limited revenue contribution, with a bulk of the business still being driven by industrial packaging, and greases and lubricants. Result? Distractions from multiple fronts have kept profits volatile. When diversification Becomes diworsification Diversification isn't inherently negative. Expanding into upstream or downstream segments can lower costs, while entering adjacent businesses can help de-risk operations and cushion against business-cycle or seasonal fluctuations. Also read | Why some Indian companies are paying dividends despite posting losses The real concern arises when companies venture into industries entirely unrelated to their core strengths. Done well, such moves can mark the early stages of building a diversified conglomerate—as seen with Reliance Industries Ltd or ITC Ltd. But execution is critical, and professionally managed firms are better equipped to navigate the risks. Even then, conglomerates often trade at a discount, with the whole valued less than the sum of their parts. If a company has proven its strength in its core business, investors may be willing to back unrelated diversification—Patanjali Foods being one example. But when companies already struggling at the core venture into unrelated businesses, they risk spreading themselves too thin. Bull markets may temporarily lift such stocks on a wave of optimism, but when sentiment cools and fundamentals reassert themselves, these weaknesses are quickly exposed. For more such analyses, read Profit Pulse. Ananya Roy is the founder of Credibull Capital, a Sebi-registered investment adviser. X: @ananyaroycfa Disclosure: The author does not hold shares of the companies discussed. The views expressed are for informational purposes only and should not be considered investment advice. Readers are encouraged to conduct their own research and consult a financial professional before making any investment decisions.
Hans India
an hour ago
- Hans India
Won't get Nobel Prize for 'stopping' Indo-Pak war... rues Donald Trump
Washington: US President Donald Trump has bemoaned that he won't get a Nobel Peace Prize for "stopping" the war between India and Pakistan or for his efforts in the Russia-Ukraine and Israel-Iran conflicts. In a post on his social media platform, Truth Social, on Friday, Trump said, "I won't get a Nobel Peace Prize, no matter what I do." He started his post by mentioning that he is very happy to report that he has arranged, along with Secretary of State Marco Rubio, a wonderful treaty between Congo and Rwanda, in their war, which was known for violent bloodshed and death, more so even than most other Wars, and has gone on for decades. Noting that representatives from Rwanda and Congo will be in Washington on Monday to sign documents in this regard, Trump described it as a "Great Day for Africa and, quite frankly, a Great Day for the World!" He then went on to say that, however, he won't get a Nobel Peace Prize for any of his efforts. "I won't get a Nobel Peace Prize for this, I won't get a Nobel Peace Prize for stopping the War between India and Pakistan, I won't get a Nobel Peace Prize for stopping the War between Serbia and Kosovo," Trump said. Tensions between New Delhi and Islamabad escalated after the April 22 Pahalgam terror attack, with India carrying out precision strikes on terror infrastructure in Pakistan and Pakistan-occupied Kashmir in the early hours of May 7. Pakistan attempted to attack Indian military bases on May 8, 9, and 10. The Indian side responded strongly to the Pakistani actions. The on-ground hostilities ended with an understanding of stopping the military actions following talks between the directors general of military operations of both sides on May 10. Trump has been claiming that the US has stopped India and Pakistan from fighting. However, India has been consistently maintaining that the understanding on cessation of hostilities with Pakistan was reached following direct talks between the Directors General of Military Operations (DGMOs) of the two militaries. In his social media post, Trump further said he won't get a Nobel Peace Prize for "keeping peace between Egypt and Ethiopia (A massive Ethiopian built dam, stupidly financed by the United States of America, substantially reduces the water flowing into The Nile River)". The US President said he won't get a Nobel Peace Prize for doing the Abraham Accords in the Middle East which, if all goes well, "will be loaded to the brim" with additional countries signing on, and will unify the Middle East for the first time in The Ages!" "No, I won't get a Nobel Peace Prize no matter what I do, including Russia/Ukraine, and Israel/Iran, whatever those outcomes may be, but the people know, and that's all that matters to me," he said. Meanwhile, the Pakistan government said in a statement that it has decided to formally recommend Trump for the 2026 Nobel Peace Prize, in recognition of his decisive diplomatic intervention and pivotal leadership during the recent India-Pakistan crisis. At a moment of heightened regional turbulence, President Trump demonstrated great strategic foresight and stellar statesmanship through robust diplomatic engagement with both Islamabad and New Delhi which de-escalated a rapidly deteriorating situation, ultimately securing a ceasefire and averting a broader conflict between the two nuclear states that would have had catastrophic consequences for millions of people in the region and beyond, the statement claimed. It said this intervention stands as a testament to his role as a genuine peacemaker and his commitment to conflict resolution through dialogue. It also noted Trump's offers to resolve the Kashmir issue. President Trump's leadership during the 2025 Pakistan India crisis manifestly showcases the continuation of his legacy of pragmatic diplomacy and effective peace-building. Pakistan remains hopeful that his earnest efforts will continue to contribute towards regional and global stability, particularly in the context of ongoing crises in the Middle East, including the humanitarian tragedy unfolding in Gaza and the deteriorating escalation involving Iran, the Pakistani government said. In a post on X, John Bolton, who was National Security Advisor during Trump's first term as President, said the Republican leader wants a Nobel Peace Prize, because former US president Barack Obama received one. He won't get it for solving the Russian-Ukraine war. He tried unsuccessfully to claim credit for the recent India-Pakistan ceasefire. He's now failing to reach an agreement with Iran, and is being asked by Israel to help destroy Tehran's nuclear-weapons programme. And he still hasn't made up his mind, Bolton said. Obama had been US President for less than eight months when he was awarded the Nobel Peace Prize in 2009. On May 10, Trump claimed on social media that India and Pakistan had agreed to a full and immediate ceasefire after a long night of talks mediated by Washington. He has repeated the claim over a dozen times that he helped settle the tensions between India and Pakistan. Trump said that he told the nuclear-armed South Asian neighbours that America will do a lot of trade with them if they stopped the conflict.
Hindustan Times
an hour ago
- Hindustan Times
House panel may suggest high commissions' audits
A parliamentary panel is likely to recommend that the government revamp the internal mechanisms of Indian embassies, and mandate that each diplomatic mission undergoes at least one audit every three to four years, after a review of some reports revealed rule violations and procedural lapses in the Indian High Commission in London, officials familiar with the matter said. House panel may suggest high commissions' audits According to the report, which HT has seen, some of the officials at the London high commissionallegedly accepted compensation from a property developer without approval from the ministry of external affairs (MEA) and without any documented justification for the amount accepted. Additionally, a private party was reportedly irregularly authorised to receive and retain government receipts and use them to cover mission expenses. The report also cited that renovation work in the basement of India House, London, was carried out without proper approvals from the concerned authorities. A draft report, which was adopted by a House panel earlier this week, said, 'The Committee are pained to note the feeble reply of the ministry that punitive action has already been initiated by the Ministry and that there is absence of necessary evidence to support criminal charges against the concerned officials, The Committee are of the considered opinion that the Ministry is trying to protect the delinquent officers when audit has clearly established violation of rules and processes.' The panel observed that it is not the first time it has seen cases involving violation of rules and guidelines of missions abroad. The draft report maintains the need for a strong deterant action and asked the ministry to proceed with criminal charges against errant officials. The House panel, according to functionaries, might ask for a wider preventive measure and suggest that internal audit mechanism including its mandate and terms of reference to include transaction and compliance4 audit. The panel might also suggest that parliamentary panels must be appraised of such audits from at least last five years and its findings. 'The committee emphasize that revamping of the internal audit mechanism is of paramount importance given the frequent occurrence and non-detection of such cases of blatant violations of rules and regulations. Internal audit will help uncover potential risks, vulnerabilities and areas of weakness within the missions allowing for proactive risk management and mitigation strategies to be develop,' the draft added.
