WTO and seafood exports: performance, potential and policy

Abstract

Seafood has come to occupy a prime position in the post reforms era as a sunrise sector. The performance of Indian fisheries and aquaculture is intricately connected with seafood exports. While growth rates and value ofoutput from fisheries have been consistent over years, its performance has not been duly rewarded in terms of larger share of budgets for development. Production credit. insurance, assistance for quality control up-gradation and export credit has not measured upto expectations of this industry. With, perhaps, the maximum level of vertical integration within the sector from fishing/ farming to processing and marketing, seafood is the best choice among sectors waiting to be exploited in the WTO regime. Fisheries research and extension have made a tremendous impact in effecting technological change. The upward shift in production function in coastal aquaculture with a sulfa ble mix of production and processing technologies has made the sector more resilient and sustainable than ever. The paper calls for a new look at fisheries and aquaculture . with a view to reconfiguring budget allocations and providing suitable policy props within agriculture sector to make the best of opportunities presented by this highly competitive sector in the dynamic environment of WTO.