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Brexit is an opportunity for Indian seafood export

Staff writer |
The Brexit could represent an opportunity to boost their exports to Indian seafood traders, whose shippings to the island nation may become as they used to be during the pre-EU formation days.

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Exports to UK were in a free flow but then declined after the EU adopted stricter norms and stipulations for import of the items, the Business Standard reported.

Sea Food Exporters Association of India (SEAI) Odisha region Ajay Dash explained that prior to the formation of the EU, 30-40 percent of Indian marine products were exported to UK and that these exports were as good as they were to the US.

The EU had mandated to raise the level of processing up to a standard level as per their norms for the exporting countries and getting it approved from them. Similarly, the pre-harvest testing of aquaculture products was mandatory for export to EU countries.

"With the Brexit, we are hopeful that trade relations with UK for exports of Indian sea products will go back to good old days if UK’s economy stabilises. The norms may be liberalised. UK may chalk the plans depending on their demand separately as has been done by US and Canada", he added.

However, the exporters are skeptic whether UK will formulate new norms or will follow the prevailing ones in days to come.

A senior officer of Marine Products Export Development Authority (MPEDA) said, “It is too early to say anything over the matter as there is every chance for Britain to follow the same stringent rules of EU to import seafood from India even after its departure from EU,” New Indian Express informed.

Statistics from the entity reveal that the EU is the third largest market for Indian seafood exports after the US and South East Asia.

MPEDA also stated that in 2014-15, the US was the largest market for Indian seafood products with a share of 26.46 percent in terms of USD followed by South East Asia (25.71 percent), the EU (20.08 percent), Japan (9.11 percent), other countries (8.58 percent), middle east (6.04 percent) and China (4 percent).

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