Export Import Business

Strengthening India's Aquaculture & Seafood Exports: MPEDA's Key Budget Initiatives

The Marine Products Export Development Authority (MPEDA) highlights impactful budget proposals aimed at enhancing India's aquaculture and seafood export sectors. Customs duty exemptions on shrimp and fish feed inputs, including mineral and vitamin pre-mixes, krill meal, and algal oil, will boost industry competitiveness. Essential aquafarm inputs like Vannamei and black tiger broodstock will see reduced duties of 5%.

The establishment of Nucleus Breeding Centres (NBCs) for shrimp broodstock, backed by significant financial support, promises to save the industry ₹150 crore annually. Approximately one lakh farmers will benefit from a 30% reduction in shrimp seed costs.

NABARD will facilitate financing for shrimp farming, processing, and export, covering up to 80% of project costs with an interest subvention of up to 3%. Enhanced access to infrastructure development funds will benefit 639 export processing units, improving and expanding facilities.

These measures are set to elevate the quality and international competitiveness of Indian marine products, contributing to last year's record seafood exports of over ₹60,000 crore.

🌍

Connect with international buyers and thrive in the export industry @ https://shorturl.at/S5C32.

Source : https://shorturl.at/Kckr0

Step into 2024 with the key to global markets at your fingertips. Happy New Year to our savvy exporters and importers! Let's unlock a year of unparalleled trade insights and opportunities.

🎄✨ Celebrated the magic of Christmas in the office! Our Infodrive India family came together to spread joy, laughter, and holiday cheer. Here's a glimpse of our festive celebration – from decorations to team moments. 🎅🏻❄️