Now, seafood exporters hurt by Re rise
Seafood Exporters Association asks Centre to lower interest costs for pre-and-post shipment amid the rising Re.
By TNN |
KOCHI: The Seafood Exporters Association of India (SEAI) has asked the Centre to lower interest costs for pre-and-post shipment finance as the surging rupee hit them hard.
The Rs 8,000-crore worth seafood export industry has also sought others sops like removal of service tax on exports and higher rates under the DEPB scheme.
The measures are necessary to make the Indian seafood industry competitive in the international market, said SEAI president AJ Tharakan.
The Indian exporters are unable to compete with its Asian competitors like China, Vietnam and even Bangladesh and Sri Lanka, he said. The Indian products are priced out in the major markets of US, Japan and EU due to the strong rupee.
It is difficult for exporters to lower the price paid to fishermen or aqua farmers in line with the appreciating rupee, he said. Seafood industry exports products like shrimp, squid, cuttlefish and crab.
A slowdown in exports could have serious repercussions on the industry and the large number of people employed by the sector, he said.
The Rs 8,000-crore worth seafood export industry has also sought others sops like removal of service tax on exports and higher rates under the DEPB scheme.
The measures are necessary to make the Indian seafood industry competitive in the international market, said SEAI president AJ Tharakan.
The Indian exporters are unable to compete with its Asian competitors like China, Vietnam and even Bangladesh and Sri Lanka, he said. The Indian products are priced out in the major markets of US, Japan and EU due to the strong rupee.
It is difficult for exporters to lower the price paid to fishermen or aqua farmers in line with the appreciating rupee, he said. Seafood industry exports products like shrimp, squid, cuttlefish and crab.
A slowdown in exports could have serious repercussions on the industry and the large number of people employed by the sector, he said.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
