With tsunami damage to the Indian fisheries sector now estimated at more than 10 billion Rupees (Euro200 million) the government is looking at easing customs'' duty on some imported equipment, as part of a strategy to help boost seafood export figures.
The move would be made under the Export Promotion of Capital Goods (EPCG) scheme, FIS reports. The Finance Ministry has already received proposals asking for a reduction on import duties for fish finders, GPS and marine radios. Government sources said the concessions might also cover imports of fish holds, ice makers and refrigerated seawater systems at preferential duties. The government-run Marine Products Export Development Authority wants to promote more value added products in India for export, such as double-skinned cuttlefish, fish burgers, seafood mixes and squid fillets. Demand for seafood within and from the region plummeted after the December tsunami, in part due to rumours that fish were eating human corpses. Sri Lanka and Thailand have already mounted campaigns to allay such fears and encourage a return to seafood consumption.
Indian seafood exports are worth more than one billion Euros a year. They have faced anti-dumping duties from the US Department of Commerce since last year, over shrimp. The US had been buying shrimp from India worth more than $300 million annually.
