8.2.5 Seafood Export Regualations

8.2.5 Seafood Export Regualations

All exports from India are regulated as it involves foreign exchange dealings. The Reserve Bank of India controls all foreign exchange dealings and has evolved separate guidelines for the banks to follow.

The Government of India through the Ministry of Commerce has laid out policy guidelines for exports. The Marine Products Export Development Authority(MPEDA) is the nodal organization to regualate seafood exports. It was set up as an autonomous organization in 1972 through an Act.

An exporter should first obtain Exports code number called RBI code number from the Reserve Bank of India.

An exporter should then register with the office of the Directorate-General of Foreign Trade (DGFT) and should obtain the Importer-Exporter code (IEC) for exports/imports. After registering with the DGFT, the exporter should register with the MPEDA. Then only, the exporter could export or import seafoods.

The exporter would need to mention both the RBI code number and the IEC in all export documents.

The IEC was replaced with PAN number issued by the Income Tax Department from April 2001 so as to ensure a uniform identification number for transaction with all government agencies such as the customs, Dept. Central Excise Department Port authorities, etc.

The Union Ministry of commerce has laid down policy guidelines for all exports. The MPEDA notifies the same to seafood exporters.

Last modified: Saturday, 24 December 2011, 7:04 AM