Overview
- Fish harvested by Indian-flagged vessels in the Exclusive Economic Zone or on the high seas will be exempt from duty, and landings at foreign ports will be counted as exports, with safeguards to prevent misuse in catch, transit and transshipment.
- The government will amend the Customs Act, 1962 to extend jurisdiction beyond territorial waters and add a new Section 56A creating special provisions for fishing by Indian-flagged vessels outside territorial waters.
- The duty-free import limit for specified inputs used in seafood processing for export will rise from 1% to 3% of the previous year’s FOB export turnover to lower processing costs.
- Domestic support includes integrated development of 500 reservoirs and Amrit Sarovars plus initiatives to strengthen value chains and market linkages through start-ups, women-led groups and Fish Farmers Producer Organisations.
- Industry groups welcomed the measures as reducing input costs and improving competitiveness as exporters face US tariffs, including a reported 7% countervailing duty on Indian shrimp, and shift more shipments to other markets.