India is turning to Japan, China, and the UK to secure larger markets for its seafood, especially prawn and shrimp exports, after the Trump administration’s move to slap a 50 percent tariff on Indian goods.
This includes products on which the marine economy of Kerala, Andhra Pradesh and other coastal areas depend. The Narendra Modi-led government is already in talks with multiple countries, including the United Kingdom and European Union nations, for a larger share in the market internationally to scale up seafood imports, said minister of state for fisheries, animal husbandry and dairy George Kurien.
“We are exploring multiple avenues. There are countries like Japan, China and even Britain, who are willing to increase the marine import from India. We have already been trading with them, but there are scopes to scale up the exports,” Kurien, who represents Kerala in the Rajya Sabha, told News18.
The tariff has already jolted exporters across Kerala and Andhra Pradesh, which contribute to a large extent to marine product exports. According to the official data available with the ministry of commerce, India exported marine products of quantity 17.8 million tons in the FY24. The value of exports for the same year was US$ 7.38 billion.
India mainly exports frozen shrimps, fish, cuttlefish, squids, dried items, and live and chilled items. Out of these, frozen shrimp is the largest exported marine product contributing to more than 40 percent of the total quantity and about 66.12 percent of the total export value, as per the data.
“In the period FY24, frozen fish, cuttlefish, and squid accounted for 21.42%, 3.05%, and 5.25% of the total export value of marine products, respectively. This was a change from the previous period, FY23, where they represented 21.23%, 3.16%, and 5.49% of the total quantity exported. During FY24 the country exported marine products worth US$ 7.38 billion, compared to US$ 8.09 billion for the same period last year. In FY25 (April-January) the country exported marine products worth US$ 6.21 billion),” read the government document.
Earlier trade projections this year show that marine exports from India were expected to reach US$ 14 billion by 2025. The Marine Products Export Development Authority (MPEDA) also proposed a roadmap to achieve this target.
A senior officer from the commerce ministry told News18 that the announcement of the 50 percent tariff on Indian products affected the export scenario for the US, although the government is now trying to recalibrate the marine export situation and approaching other countries to increase the trade. It is moving to reinforce its export strength by negotiating higher volumes with Asian and European nations, the officer said.
Kurien said: “Our priority is to safeguard the livelihoods of our fishermen. We are in expansion mode to ensure continuity and growth.”
The stakes are high. India earns nearly $8 billion annually from seafood exports, with shrimps making up about 70 percent of the basket.
Until now, the US absorbed nearly 40 percent of India’s shrimp shipments. With that window being abruptly affected, exporters are looking to Tokyo, Beijing, and London as the new anchors of demand.
Japan, a longstanding partner for Indian seafood, is expected to scale up imports of Black Tiger and Vannamei shrimp. China, the world’s largest consumer market, is already in advanced discussions for expanded quotas. The UK, post the free trade agreement (FTA), is emerging as a promising destination with potential for preferential trade arrangements.
“This is the right time to diversify and reduce dependence on the US. The tariff shock hurts, but it also forces us to strengthen our footprint elsewhere,” said a source from the ministry.
Source: news18
