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Mint
2 days ago
- Business
- Mint
India-UK trade deal: Lobster, shrimp, pomfret export to benefit under CETA's duty-free access to British market
India-UK trade deal: India's seafood exports to the United Kingdom are set to gain market share after both nations signed a Comprehensive Economic and Trade Agreement (CETA) on Thursday, 24 July 2025. The CETA offers zero-tariff access and opens up key services sectors for both nations. India's Ministry of Fisheries, Animal Husbandry & Dairying said that the recent trade deal will help exporters gain market share for key seafood exports to the United Kingdom, such as Vannamei shrimp, lobsters, and frozen pomfret. 'India's key seafood exports to the UK currently include Vannamei shrimp (Litopenaeus vannamei), frozen squid, lobsters, frozen pomfret, and black tiger shrimp—all of which are expected to gain further market share under CETA's duty-free access,' said the Ministry in an official statement. This will be achieved by removing UK import tariffs on a wide range of seafood items for Indian exporters, as part of the trade deal. 'Under the India–UK Comprehensive Economic and Trade Agreement (CETA), all fish and fisheries commodities falling under the UK tariff schedule categories marked 'A' now enjoy 100% duty-free access from the date of entry into force of the agreement,' said the Ministry. The CETA deal will also benefit 'labour-intensive sectors' like textiles, leather, gems and jewellery, among others, which India exports to the European nation. 'This is expected to particularly benefit exports of shrimp, frozen fish, and value-added marine products—boosting India's presence in one of its major seafood destinations alongside labour-intensive sectors like textiles, leather, and gems and jewellery,' they said in the statement. The Indian seafood export industry reached a total export worth $7.38 billion or ₹ 60,523 crore in the financial year 2024-25, marking a total of 1.78 million metric tonnes in quantity, according to the official data. Out of the total exports, Frozen shrimp ranked the highest at 66% worth $4.88 billion. Seafood exports to Britain were valued at $104 million or ₹ 879 crore in the same period, with frozen shrimp contributing nearly 77% of the total exports to the UK. 'However, India's share in the UK's $5.4 billion seafood import market is just 2.25%. With CETA now in force, industry estimates project a 70% surge in marine exports to the UK in the coming years,' said the Ministry of Fisheries in the official statement. Coastal states of India like Andhra Pradesh, Kerala, Maharashtra, Tamil Nadu and Gujarat are key contributors to the total seafood exports to foreign nations. With this move, India aims to capitalise on duty-free access to the UK markets, uplift coastal livelihoods, enhance industry revenues, and strengthen the nation's reputation as a reliable supplier of high-quality, sustainable seafood. The Ministry also stated that this opportunity will allow seafood exporters to diversify beyond traditional partners like the US and China.
Business Mayor
25-05-2025
- Business
- Business Mayor
‘Drone technology to be used for transportation of live fish'
new delhi: The Secretary of the Department of Fisheries in the Ministry of Fisheries, Animal Husbandry & Dairying, Abhilaksh Likhi, on Friday said that the department is looking at drone technology to transport live fish in a boost for fisheries sector. Likhi made the comments during the 'Fisheries Secretaries Conference 2025' and National Workshop on Harnessing Technology and Innovation in Aquaculture here to review the progress of Pradhan Mantri Matasya Sampada Yojna, fisheries and aquaculture infrastructure development fund and implementation of the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana. Senior officers from the State Fisheries Departments, Reserve Bank of India, National Bank for Agriculture and Rural Development, Open Network for Digital Commerce, Small Farmers' Agri-Business Consortium, National Cooperative Development Corporation and ICAR also participated in the meeting. In the address, Likhi urged states to strengthen collaborative efforts aimed at upscaling the fisheries sector through innovation, infrastructure and institutional synergy. Emphasis was laid on the extensive use of satellite technology to enhance fisher safety and operational efficiency covering aspects such as resource mapping, biometric identification, and facial recognition. Likhi highlighted a pilot project on drone technology for live fish transport, aiming to develop a 70 kg payload drone capable of carrying live fish in difficult terrains from aggregator to distribution point. READ SOURCE
