Mumbai: India actively negotiated with the European Union to open its market for seafood exports, helping the country overcome challenges arising from steep US tariffs, commerce and industry minister Piyush Goyal said Sunday. Addressing reporters here, he said the government anticipated disruptions and acted swiftly to secure alternative markets for Indian exporters.
"Our government works 24 hours. Often, even before a problem arises, we begin planning and action," he said.
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Goyal said the US decision to impose 50% tariff on Indian seafood had dealt a major blow to exports and caused distress among fishermen. "When America imposed a 50% tariff on Indian seafood, our exports suffered a big setback. Fishermen were very worried. The Centre responded by engaging with the EU and addressing regulatory bottlenecks."
Several Indian fishing establishments had been delisted by the EU in the past, but India used quality control orders and standards to push for their restoration, he said.
"We took a firm approach and used quality control mechanisms. Today, more than 125 Indian fishery establishments have been registered," he said, adding that this helped India regain access to a large and stable market.
The minister said the strategic move yielded results, with seafood exports recording a growth of around 12-14% last year despite global uncertainties.
He stressed that opening up the EU market was crucial given its massive import demand and importance in global trade.
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Highlighting the broader approach, Goyal said India was focusing on securing long-term trade opportunities through free trade agreements and global partnerships.
"If India has to become a developed nation, our international agreements must lay the foundation for the next 20-25 years. Expanding exports, boosting manufacturing and creating employment opportunities remain key priorities, and gaining access to major global markets is essential to achieve these goals," he said.
"Our government works 24 hours. Often, even before a problem arises, we begin planning and action," he said.
Also Read: India-EU FTA to cover one-third of global trade, impacts 2 billion people: Commerce Ministry
Goyal said the US decision to impose 50% tariff on Indian seafood had dealt a major blow to exports and caused distress among fishermen. "When America imposed a 50% tariff on Indian seafood, our exports suffered a big setback. Fishermen were very worried. The Centre responded by engaging with the EU and addressing regulatory bottlenecks."
Several Indian fishing establishments had been delisted by the EU in the past, but India used quality control orders and standards to push for their restoration, he said.
"We took a firm approach and used quality control mechanisms. Today, more than 125 Indian fishery establishments have been registered," he said, adding that this helped India regain access to a large and stable market.
The minister said the strategic move yielded results, with seafood exports recording a growth of around 12-14% last year despite global uncertainties.
He stressed that opening up the EU market was crucial given its massive import demand and importance in global trade.
Also Read: Trump’s anger at Germany hangs over EU trade deal push
Highlighting the broader approach, Goyal said India was focusing on securing long-term trade opportunities through free trade agreements and global partnerships.
"If India has to become a developed nation, our international agreements must lay the foundation for the next 20-25 years. Expanding exports, boosting manufacturing and creating employment opportunities remain key priorities, and gaining access to major global markets is essential to achieve these goals," he said.
