Government Budget Initiatives to Boost Aquaculture Sector Growth; Kings Infra Well-Positioned to Leverage Opportunities - World News Network

VMPL
Ernakulam (Kerala) [India], February 4: Kings Infra Ventures Limited, a pioneer in the seafood and aquaculture industry. Operates across the entire seafood value chain, from farming to international trade, with extensive infrastructure including farms, and processing facilities, has announced that the recent government budget has introduced significant customs duty changes aimed at strengthening India’s aquaculture sector.
Key modifications include:
* Reduction in Basic Customs Duty (BCD) on frozen fish paste (Surimi) from 30% to 5% for manufacturing analogue products for export
* Reduction in BCD on fish hydrolysate from 15% to 5% for manufacturing fish and shrimp feeds. These measures will make shrimp feeds more competive and reduce the overall cost of shrimp production making farming more profitable and exports more competitive.
* The establishment of Export mission jointly by various stakeholder ministries, the increase in subsidies under various schemes by the food processing ministry, the benefits granted to the SME sector including increased financing limits and expansion of credit to farmers will all contribute to the healthy growth of the aquaculture industry to play a major role in achieving our vision for Vikasit Bharat.
These changes come as India maintains its position as the second-largest global producer in fish production and aquaculture. The government has expressed its commitment to unlock the untapped potential of the marine sector, emphasizing sustainable harnessing of fisheries.
Kings Infra: Leading Innovation in Sustainable Aquaculture SISTA360: An integrated platform providing:
* Sustainable and traceable aquaculture solutions will benefit from the proposals for improving credit to farmers as more farmers will be able to afford better technology and more sustainable inputs.
* SPEED program for skill development and entrepreneurship will equip more young professionals to be future ready to start their own aqua enterprises under PMMSY and FIDF schemes.
* It will also help in comprehensive farmer network development to create a robust sustainable supply chain.
Kings Maritech Eco Park: India’s first eco-friendly mariculture tech park featuring:
* Advanced Recirculatory Aquaculture System (RAS)
* AI and IoT integration
* Projected productivity increases from 5 tons/Ha to 50 tons/Ha. The budget contains a proposal for supporting setting up of Nuclear Breeding Centers( NBC). It will help in reducing import of broodstock and also diversification of species. NBC will be an important vertical within KMEPL.
Aqua King: A certified range of aqua healthcare products including:
* Micro C macro minerals
* Feed supplementary products
* Water and soil probiotics
* Various health management solutions All products carry ISO 9001:2015, ISO 22000-2018 certifications and Coastal Aquaculture Authority (CAA) approval.
Shaji Baby John, Chairman and Managing Director of Kings Infra Ventures Limited, commented on the update, stating: The government’s recent budget initiatives, particularly the reduction in Basic Customs Duty on fish hydrolysate from 15% to 5%, come at an opportune time for us and the entire aquaculture sector. This aligns perfectly with our SISTA360 protocols and our commitment to sustainable farming practices. The reduced input costs will significantly enhance the cost- effectiveness of our operations, especially in our high-yielding farms that have achieved the remarkable feat of harvesting 80gm Vannamei shrimps in 120 days without antibiotics.
Furthermore, as we progress with our Kings Maritech Eco Park project, which aims to increase productivity from 5 tons/Ha to 50 tons/Ha using advanced RAS technology, these duty reductions will play a crucial role in optimizing operational costs. The government’s recognition of India’s position as the second-largest fish producer globally and its focus on sustainable harnessing of fisheries aligns seamlessly with our vision.
Through our integrated approach – from our ISO-certified Aqua King products to our SPEED initiative for farmer empowerment – we are well-positioned to contribute significantly to India’s aquaculture growth story while maintaining our commitment to sustainable and traceable practices.
The timing of these policy changes couldn’t be better as we expand our farmer network and scale up our operations across. These initiatives will help us accelerate our mission of transforming aquaculture through technology and sustainable practices, ultimately benefiting both farmers and consumers while contributing to the nation’s food security goals.”
About Kings Infra Ventures Limited
Kings Infra Ventures Limited, a pioneer in the seafood and aquaculture industry, established its integrated aquaculture project in Tuticorin in 1987. Originally a family business, it has evolved into a tech-driven leader in sustainable aquaculture.
Leveraging proprietary SISTA360 protocols and sustainable practices such as modified RAS, modified biofloc, and advanced farm management techniques, Kings Infra has achieved significant technological advancements. With the Maritech Eco Park project and global expansion initiatives, the company remains committed to sustainability, quality, and traceability.
Additionally, Kings Infra is developing premium retail brands–Kings Frigo and Kings Bento– covering all aspects of the seafood value chain.
In FY24, the company recorded a total income of Rs90.60 crore, achieving an EBITDA of Rs14.40 crore and a Net Profit of Rs7.56 crore
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