Bhaskar Exclusive: India, UK sign free trade agreement, fishermen, exporters to benefit by 7%

A foreign free trade agreement has been signed between the Government of India and the UK government, which has also enthused the fishermen living on the country's largest 1600 km long coastline. A foreign free trade agreement has recently been signed between the Government of India and the UK government, which has created enthusiasm among the fishermen of Gujarat, which has the largest coastline of the country, and especially among the fishermen of Saurashtra. Because experts believe that a new market has emerged for India and that too at a low cost of about 6 to 7 percent, that is, when it comes to crores, this figure is very high. India is exporting only Rs 1,000 crore. Due to this free trade agreement, this figure can reach 3 thousand crore rupees in the next 2 to 3 years. The UK is an important market especially for fish exports and exporters. Due to this, fishermen and exporters can get a direct benefit of 6 to 7 percent. At present, it has become a little difficult to export to the US and other countries and its duty is also high. If such a new market opens, it will be beneficial for fishermen in the coming days. He further explains that India ranks second in shrimp exports especially from here. America was a very important market for us. But now it is more expensive due to increase in duty. As a result of the important decision taken by the government recently, it will now be profitable to export to the UK. It is worth mentioning that 34 percent of the fish exports from India are to america. Of these, shrimp is the highest. 19 percent was exported to China. This includes shrimp as well as fish from Gujarat. The European Union was in third place. About 16 to 17 per cent of India's exports were made. This step taken by India in particular will prove to be very beneficial for the fishermen in the coming days. When it comes to fishing and export, there is an interconnected chain in which more than one person is involved. Thus, if the cost of export is reduced, then the exporter can give more money to the company or man from where he buys the goods and the company or man can pay more money to the fisherman. The matter cannot be ruled out. How much has Saurashtra contributed in the last 3 years? If we talk about the last three years, in the year 2022-23, exports were about 64 to 65 thousand crores. The next two years were a little weak because the US market was weak. The Ukraine war also had an impact.