Collaboration Policy for New Entrants:

To ensure effective governance and industry credibility, we have structured financial commitments, compliance checks, and best-practice requirements. These commitments will be communicated to state fishery managers, reinforcing the credibility of entrants from outside the core operating states.

Key Adjustments (Subject to State Fishery Manager Feedback)

A. State Department Governance – Fisheries operate under state government oversight. Policies must align with state directives to maximize compliance and implementation efficiency.

B. Local Industry Presence – A strong local presence enhances credibility when engaging state authorities. Companies with established operations in Maharashtra and Goa hold greater weight in discussions with fisheries departments.

C. Financial Commitment for External Companies –
Businesses with less than 75% Maharashtra or Goa domicile ownership must maintain a deposit of Rs.75,00,000 with the project coordinator’s account. Additionally, companies will be required to pay:

Rs.10 per kg on Fishmeal produced & Rs.30 per kg on Fish Oil traded
Entrance Fee & Cost Contribution – New entrants must contribute to existing and ongoing costs. An entry fee of 0.5% of their previous year’s turnover, subject to a minimum of Rs.25,00,000, is required.
Entry approval requires at least 51% of existing stakeholders’ consent.

D. Ethical & Legal Standing –
To uphold industry integrity and credibility, all participating companies must meet the following criteria:

Ethical Conduct – Companies must not have been involved in fraudulent practices at any point of time.
Legal Standing – Companies must have been engaged in manufacturing for at least five years and must have no pending criminal or civil cases in any Indian court of law.
Regulatory Compliance and Best Practices – Companies must meet Marin Trust Standards, hold GMP+ certification, and secure EIC and MPEDA approvals, and a valid pollution certificate for factory operations ensuring sustainability and quality assurance.

By reinforcing these requirements, we aim to safeguard industry integrity, encourage responsible participation, and strengthen regulatory acceptance among state authorities.