A.P. exporters seek Centre’s intervention as U.S. tariffs hit seafood industry hard

The Indian Seafood Exporters Association (SeaI) called on the central government to expand emergency aid measures to protect the Indian seafood export industry and said that it was embraced under the influence of newly imposed tariffs by the United States.

A delegation led by the Union State Minister Steel and the High Industry Minister Bhupathiraju Srinivasa Varma brought together the Union Finance Minister Nirmala Sithaman on Tuesday, together with SEAI President Pawan Kumar and others in the parliament office and presented an officer.

Delegation, with the last 25% tariff imposed by the United States, stressed that Indian exporters are now loaded with approximately 35% and greatly reduced their competitiveness, along with balancing task (CVD) and anti-dumping tasks.

In 2023-24 financially, India’s 8 billion dollars of seafood exports constitute approximately 25%.

To help overcome the crisis, the SEAI proposed a number of aid measures, including soft loans in privileged interest rates (below 5%), up to 30% of the Working Capital; Extending export loan facilities for 240 days for all seafood exporters; Financial assistance in 8% of the FOB value for export to the US; Additional support in 2% of FOB value for export to other countries; Special financial packages for small and medium -sized Aqua farmers to prevent distress.

Pawan If these measures are applied, exporters will be able to maintain themselves in global markets, and the industry can be protected with 28 million people dependent on it, ”he said.

Mrs. Nirmala Sithaman made sure that the delegation will be examined and the appropriate measures would be taken into consideration.

CEO Dr. Raghavan, National Committee Member Irrrbig Ganga Ram, POOJITHA and MPs Satish Babu and Beeda Mastan Rao were also present.