The study was conducted by scientists of the Central Marine Fisheries Research Institute (CMFRI) and Indian Council of Agricultural Research (ICAR).
The findings come when the global conservation agency International Union for Conservation of Nature - IUCN gas recommended increased conservation efforts to save world's sharks and rays species facing extinction.
Indian scientists, however, say the trade of hammerhead sharks and oceanic whitetip shark and their by-products can be done with CITES certification, an international agreement between governments, which aims at the sustainability of wild exploited fauna and flora.
The study is titled "Non-Detriment Findings (NDF) for export of shark and Ray species listed in Appendix II of the CITES and harvested from Indian waters".
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It says that positive NDFs were therefore recommended and international trade in these sharks and their by-products can be done with CITES certification, subject to existing regulatory laws on shark fin trade implemented by the Indian government.
"Increasing fishing pressure in Indian waters and juvenile catch all along the coast are threat for these shark species," he told PTI here.
He said the study has also recommended avoiding fishing in juvenile habitats and spawning grounds of these sharks to ensure their better conservation.
"Trawl is the major gear by which the species is caught (dominantly juveniles) followed by gill net and hook and line," Zacharia said.
IUCN says the global market for shark fins used in shark fin soup is a major factor in the depletion of not only sharks but also some rays with valuable fins, such as guitarfish.
"Sharks, rays and chimaeras are also sought for their meat. Other products from these species include a Chinese tonic made from manta and devil ray gills and pharmaceuticals made from deep sea shark livers," says the IUCN study published in 2014.