Seafood exports to the European Union have surged by 20 per cent since the exporters are expanding their markets to compensate for the US tariffs‘ impact on exports from India, as the tariffs have highly influenced the Indian exports. Notably, EU-bound exports climbed to 215,080 metric tonnes worth Rs 9,430 crore (US$1,125.6 million), led by Frozen shrimp, frozen cuttlefish, and frozen squid. It is significant to note that the EU has listed 102 new Indian fishery establishments for export from this country to European member countries.
Exploring further markets to boost the seafood exports
DV Swamy, chairman of the Marine Products Export Development Authority (MPEDA), stated: “We have urged the exporters to further explore markets such as Russia, the EU, the Middle East, and South Korea, and boost the domestic seafood market, followed by the 50 per cent hike due to US tariffs. Furthermore, he added that the authority has been working on enhancing the export logistics via initiatives such as upgrading cold chain infrastructure, providing financial incentives for reefer containers and air cargo, and encouraging quality and standards to ensure market access. He mentioned: “We are also signing Free Trade Agreements with many countries that would significantly increase seafood exports from India by removing tariffs and opening new market opportunities,’’ Swamy stated that the authority has advised exporters to organise buyer-seller meets and participate in international fairs to build new markets. Besides exploring new markets, the exporters were also asked to build a strong domestic market so as to decrease reliance on exports, including consumer awareness campaigns and enhancing the domestic supply chain. In addition, the chairman cited that MPEDA has been working with stakeholders to improve cold chain infrastructure and improve export strategies, apart from pushing for direct flights to buyer markets. The government is offering financial incentives to exporters along with subsidies for using reefer containers and air cargo.
US and China are India’s largest seafood markets
The Data by MPEDA showed that the US and China remain India’s largest seafood markets along with with America topping imports of frozen shrimp at 311,948 metric tonnes. Notably, India has witnessed nearly 1,698,170 tonnes of seafood exports worth Rs 62,408.45 crore ($7.45 billion) in 2024-25. Following the frozen fish (20 per cent), frozen squid, frozen cuttlefish, and chilled and live items, Frozen shrimp sustains export dominance as it accounts for 44 per cent of quantity and value.