HS Code Guide · EPM Subvention
HS Code 030617 Meaning — Frozen shrimps & prawns (excl. cold-water): Global Trade, India & Factoring Guide
HS 030617 covers frozen shrimps & prawns (excl. cold-water). This guide explains what the code includes, its global trade, India's position, how GIFT City helps factor it, and whether MSME factoring qualifies for the 2.75% interest subvention.
What this HS code covers
HS 030617 sits in 03 — Fish, crustaceans & aquatic invertebrates. Official tariff description: “Crustaceans; frozen, shrimps and prawns, excluding cold-water varieties, in shell or not, smoked, cooked or not before or during smoking; in shell, cooked by steaming or by boiling in water” In plain terms, it covers frozen shrimps & prawns (excl. cold-water). Classification decides duty and documents; this 6-digit line is in the DGFT positive list (Trade Notice 25/2025-26 Annex V), so MSME factoring under it qualifies for the 2.75% subvention — details below.
What is HS 030617?
HS 030617 covers frozen warm-water shrimps and prawns — penaeid shrimps (vannamei/black tiger) sold frozen, head-on/headless, shell-on/peeled, block/IQF. Cold-water pandalid shrimps are excluded (HS 030616).
Official description: Crustaceans; frozen, shrimps and prawns, excluding cold-water varieties, in shell or not, smoked, cooked or not before or during smoking; in shell, cooked by steaming or by boiling in water
What HS 030617 does in trade
- Lets exporters declare the exact species/process that customs, DGFT incentives and buyer contracts recognise — duty rate, RoDTEP/RoSCTL and health certificates all key off the 6-digit line.
- Determines whether an export factoring transaction can claim the 2.75% interest subvention — eligibility is at HS-6, so 030617 qualifying means every 8-digit child (e.g. 03061710) qualifies.
- Drives payment terms: shrimp is high-value perishable, so buyers often need 60–90 day open-account; factoring bridges that gap.
Global perspective — where HS 030617 moves
Farmed warm-water shrimp is one of the world's most traded seafoods — ~4.5 million tonnes traded annually. Whiteleg shrimp (vannamei) dominates. Global value chains run from hatchery → pond → processing → export, with demand anchored in the US, EU, Japan and China.
| Top global exporters | Top global importers |
|---|---|
| Ecuador | United States |
| India | China |
| Vietnam | Japan |
| Indonesia | European Union |
| Argentina | United Kingdom |
India's stance on HS 030617
India is the world's #2–3 shrimp exporter (~0.7 MT, ~US$5B). Andhra Pradesh and Gujarat are the farming hubs (vannamei). The US, China and EU are the top destinations for Indian shrimp. MPEDA and EIA regulate exports; most shipments go frozen, block or IQF.
Export docs to watch
Exports need EIA health certificate, MPEDA registration, catch/farm traceability and cold-chain B/L. Discrepancy in species or net weight blocks bank collection.
GIFT City — factoring HS 030617 in foreign currency
Shrimp receivables are often USD-denominated and can be factored via GIFT City IBU/Finance Company (IFSCA-regulated) — useful when buyers pay in USD/EUR and you want foreign-currency factoring alongside the 2.75% subvention.
Trad can route eligible invoices via an IFSCA-regulated IBU or Finance Company/Finance Unit undertaking factoring in GIFT City. The 2.75% subvention is identical whether you factor via India (RBI-regulated) or GIFT City (IFSCA-regulated) — the choice is about currency, banking relationship and buyer location, not the benefit rate.
Common financing stack for this HS
Factoring advances 70–90% in 24–48 hours after invoice verification; balance minus discount/fees on buyer payment. Works alongside packing credit — factoring covers the post-shipment open-account gap.
MSME subvention — is HS 030617 eligible for 2.75%?
Yes — HS 030617 is in the positive list (Trade Notice 25/2025-26 Annex V). MSMEs involved in international value chains with a valid active IEC (not in DEL) and valid Udyam can claim 2.75% per annum on the factoring interest cost element when factoring via an RBI/IFSCA-regulated entity.
| Check | For HS 030617 |
|---|---|
| In positive list (HS-6) | Yes — 030617 listed in Annex V |
| Benefit | 2.75% p.a. on interest cost element |
| Annual cap | ₹50 lakh per MSME per FY |
| Valid from | Prospectively from 20 Feb 2026 |
| Need UIN per factor? | Yes — declaration of intent before factoring, valid till FY-end |
| Eligible factors | RBI-regulated (AD bank / factoring NBFC) or IFSCA-regulated (GIFT IBU/FC) |
| Not covered | Deemed exports (FTP Ch.7) & exports to SEZs |
Eight-digit HS? Use first 6 digits
Eligibility is at HS-6. If your 8-digit HS (e.g. 03061710) starts with 030617, it inherits this eligibility. Verify on the HS checker — enter 6 or 8 digits.
Check HS 030617 — free
Verify any 6 or 8-digit HS against the DGFT positive list and see the 2.75% factoring eligibility in seconds.
Open HS checkerFrequently asked questions
What is HS 030617 — Frozen shrimps & prawns (excl. cold-water)?
HS 030617 covers frozen warm-water shrimps and prawns — penaeid shrimps (vannamei/black tiger) sold frozen, head-on/headless, shell-on/peeled, block/IQF. Cold-water pandalid shrimps are excluded (HS 030616).
Is HS 030617 eligible for the 2.75% interest subvention?
Yes. HS 030617 is in the DGFT positive list (Trade Notice 25/2025-26 Annex V, 4139 HS-6 lines). MSMEs factoring exports under this line via RBI/IFSCA-regulated factors can claim 2.75% per annum on the interest cost element, capped at ₹50 lakh per MSME per year, prospectively from 20 Feb 2026. Requires valid IEC (not in DEL), valid Udyam, and a UIN per factor obtained before factoring.
Who can claim the 2.75% for HS 030617 and how?
MSMEs (as defined by Ministry of MSME) with active IEC and Udyam, factoring eligible exports of HS 030617 via RBI/IFSCA-regulated entities. File a declaration of intent on the DGFT portal to get a UIN per factor (valid till FY-end), factor the invoice, the factor files monthly IEC-wise claims; subvention is credited to your IEC-linked bank account.
Can HS 030617 be factored via GIFT City?
Yes. IBUs and Finance Companies/Finance Units undertaking factoring in GIFT City (IFSCA-regulated) are eligible financial institutions under IFSCA circular 19 Mar 2026 and must extend the 2.75% benefit. Useful for USD/EUR receivables where you want foreign-currency factoring.
What does factoring for HS 030617 cost after subvention?
Indicatively, factoring discount/interest is priced commercially (often 8–12% p.a. depending on buyer, tenor, currency) plus factoring fee ~0.5–3% ⚠️. The 2.75% offsets only the interest element — e.g. a 9% interest cost becomes ~6.25% effective on that element if eligible. Fees/insurance/FX remain. Compare all-in cost.
Related HS codes
Compare HS 030617 with other MSME-export lines in the same chapter or family.
See all codes on the HS code guides hub, or read the 2.75% subvention deep-dive.