Govt initiatives to encourage marine exports a.

Imports for technological upgradation under EPCG in fisheries sector (except fishing trawlers, ships, boats and other similar items) exempted from maintaining average export obligation. b. Duty free import of specified specialized inputs / chemicals and flavouring oils is allowed to the extent of 1% of FOB value of preceding financial years export. c. To allow import of monofilament longline system for tuna fishing at a concessional rate of duty and Bait Fish for tuna fishing at Nil duty. d. A self removal procedure for clearance of seafood waste is applicable subject to prescribed wastage norms. e. Marine products are considered for VKGUY scheme.
Duty exemption and remission Schemes Duty exemption schemes enable duty free import of inputs requires for export production. Duty Exemption Schemes consist of (a) Advance Authorization scheme and (b) Duty Free Import Authorization (DFIA) scheme. A Duty Remission scheme enables post export replenishment / remission of duty on inputs used in export product. Duty remission Schemes consist of (a) Duty Entitlement Passbook (DEPB) Scheme and (b) Duty Drawback (DBK) Scheme.

PACKAGE FOR MARINE SECTOR a. Duty free import of specifies specialized inputs / chemicals and flavoring oils as per a defined list shall be allowed to the extent of 1% of FOB value of preceding financial years export. Use of these special ingredients for seafood processing will enable us to achieve a higher value addition and enter new export markets. b. To encourage the existing mechanized vessels and deep sea trawlers to adopt modern technology for scientific exploitation of our marine resources in an eco-friendly manner and boost marine sector exports, it is proposed to allow import of monofilament long line system for tuna fishing at a concessional rate of duty. c. A self removal procedure for clearance of seafood subject to wastage norms.