In a significant development that will provide a much-needed boost to India’s seafood exports, China has lifted the suspension of shipments from 99 Indian seafood processing and exporting units. This decision comes as a result of India’s assurances over source control measures and the sustained efforts of the Marine Products Export Development Authority (MPEDA).
The suspension, which had been in place since December 2020 due to COVID-related concerns, had impacted a total of 110 Indian seafood processing and exporting units. However, with the lifting of the suspension for 99 of these units, India is poised to witness a 5-10% increase in seafood exports to China in the upcoming financial year.
The decision to lift the suspension is attributed to the joint efforts of MPEDA, the Export Inspection Council, the Embassy of India in Beijing, and the Department of Commerce. These agencies worked closely to ensure that all the concerned Indian units were in compliance with the trade norm requirements of China.
The resumption of seafood exports from these units is expected to have a positive impact on India’s overall seafood export targets. The country aims to nearly double its seafood exports to USD 14 billion by 2025, and China is a key market for Indian seafood products.
MPEDA Chairman D.V. Swamy expressed optimism about the lifting of the suspension, stating that it will “raise India’s export of marine products by 5 per cent to 10 per cent in the next financial year.” He further commended the efforts of all involved agencies in achieving this positive outcome.
India’s seafood exports to China were valued at USD 1.17 billion in 2021-22, marking a 25% increase from the previous financial year. With the resumption of shipments from 99 additional units, this upward trend is expected to continue.
The lifting of the suspension is a significant step forward in strengthening trade relations between India and China. It also highlights the importance of maintaining stringent quality control measures and adhering to international trade norms to ensure the smooth flow of goods across borders.