New Delhi [India], September 9 (ANI): In a significant development for India's seafood industry, the European Union has approved 102 additional marine establishments for exports, providing an immediate 20 per cent boost to India's seafood exports to the bloc, government officials said.The approval comes at a crucial time as India's seafood exports to the EU stood at USD 1.1 billion in FY24, making it a vital market for the domestic fishing industry. With this, a total of 604 indian establishments are now listed with the EU. The breakthrough announcement comes as India and the EU are engaged in the 13th round of Free Trade Agreement (FTA) negotiations, signalling growing confidence between the two trading partners.A Commerce Ministry official told ANI that the development 'shows EU confidence in our standards' and reflects 'significant improvements in our standards.'

The official emphasised that this 'reflects overall optimism between India and the EU' and serves as an 'important confidence-building measure.'

The approval is being viewed as more than just a trade facilitation measure. 'It is a big boost for Indian exports,' the Commerce Ministry official said, adding that 'numerous meetings have been held' to resolve non-tariff measures between the two regions.

Officials believe this development will not only boost confidence but also 'smooth FTA negotiations' as both sides work to address trade barriers and enhance bilateral commerce.The timing of the EU approval is particularly significant for India's shrimp sector, which has been among the worst-affected segments following recent US tariff measures. The new EU approvals are expected to provide much-needed relief and alternative market access for shrimp exporters who have been seeking to diversify their export destinations. With all major seafood establishments now listed for EU exports, Indian exporters will have expanded capacity to meet European demand across various marine product categories.

The EU represents the second-largest market for Indian seafood exports after the United States, followed by China, Japan, Vietnam, and Thailand.

The fisheries listing by the European Union is therefore considered a significant development for the industry's growth trajectory. The approval of 102 marine establishments represents one of the largest single additions to India's EU-approved facility list, potentially transforming the scale and scope of bilateral seafood trade. (ANI)