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Sluggish marine exports likely ahead: Report

A recent report by U.S.-based trade finance company Drip Capital pointed out that India’s marine exports are expected to remain sluggish. This has been attributed to factors like challenging conditions like tightening of quality regulations by traditional markets like the U.S. and the EU, change in consumer tastes & preferences, stiff international competition and the depreciating rupee. It further predicts that these conditions are likely to persist and India’s overall marine exports are likely to remain subdued in the coming quarters.

“Indian shrimp exports to the U.S. face stringent quality checks and scanning along with a hike in anti-dumping duty to 2.34 percent from 0.84 percent in 2018, which has had a negative effect on the shipment volumes,” Drip Capital cofounder and co-Chief Executive Officer Pushkar Mukewar stated.