Seafood stocks surged by 20% during Wednesday’s trading session as the European Union approved exports from 102 more Indian marine establishments, leading to a prompt 20% increase in shipments to the region, according to reports.
This approval is timely, considering that India’s seafood exports to the EU reached USD 1.1 billion in FY24, highlighting the significance of this market for the domestic fishing sector. Consequently, a total of 604 Indian establishments are now recognized by the EU.
This significant announcement emerges as India and the EU are currently in the midst of the 13th round of Free Trade Agreement (FTA) talks, indicating a strengthening of confidence between the two trading partners.
