Cabinet decides to make further inroads in the US seafood market

New Delhi, Nov 2 (UNI) The Union Cabinet tonight gave its approval for relaxation of ceilings under the Market Access Initiative Scheme (MAI scheme) for providing assistance to Seafood Exporters' Association of India (SEAI) for anti dumping duty investigations and CCR (Changed Circumstance Review) for shrimp exports from India to the United States.

Finance Minister P Chidamabaram told mediapersons after a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Manmohan Singh, that it was decided to regularise earlier sanction of Rs 2.40 crore to SEAI over and above the ceiing of Rs 50 lakhs.

He said further financial assistance would be extended to SEAI for defending Changed Circumstances Review and other associated activities, up to 50 per cent of the proposed expenses not exceeding Rs 140.87 lakh.

Mr Chidambaram said all the efforts to make further inroads in the US market have been jeopardised because of anti dumping duty in the USA. In view of this, India's shrimp exports had been on the decline.

India's seafood industry is highly labour intensive employing about four million people directly. Postive outcome of CCR would improve market access for Indian shrimps in the USA.

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