Union minister for fisheries Rajiv Ranjan Singh said the government is looking at the United Kingdom, the European Union, Japan, China, Korea, and West Asia to widen the reach for India\u2019s seafood exports.<\/p>\n
\u201cWe have asked them (seafood exporters) to face the current challenge bravely. There are alternative markets available\u2026,” Singh said<\/a> during a press briefing on Monday. \u201cThe EU, Japan, South Korea, UK, Russia, Australia, West Asia, South East Asia, and many countries are available for export of Indian seafoods.”<\/p>\n India exported marine products worth $7.39 billion in 2024-25, of which $2.68 billion, or about 36%, went to the US, according to the Marine Products Export Development Authority. Frozen shrimp accounted for a major share of these shipments.<\/p>\n But Indian seafood shipments to the US are set to attract a total tariff of 59.7%, comprising countervailing and anti-dumping duties of 9.7%, up from 9.7% earlier, after US President Donald Trump announced additional levies of 25% effective 7 August and another 25% from 27 August.<\/p>\n The burden is expected to be particularly heavy on shrimp, India\u2019s biggest seafood export.<\/p>\n The Seafood Export Association of India has approached the commerce and finance ministries seeking emergency financial support, including a 30% increase in working capital through soft loans, news agency PTI reported<\/a> on Sunday.<\/p>\n Meanwhile, India\u2019s seafood exports to the United Kingdom are expected to increase after the two nations signed a landmark free trade agreement<\/a> in July, eliminating tariffs on 99% of Indian exports. Under the FTA, the UK\u2019s import duties on Indian marine products will fall to zero from 20%.<\/p>\n \u201cIndia\u2019s share in the UK\u2019s $5.4 billion seafood import market is just 2.25%. With CETA (the Comprehensive Economic and Trade Agreement) now in force, industry estimates project a 70% surge in marine exports to the UK<\/a> in the coming years,” India\u2019s ministry of fisheries, animal husbandry and dairying said in a statement after the India-UK FTA was announced.<\/p>\n A wider net<\/strong><\/p>\n Rama Shankar Naik, commissioner of fisheries in Andhra Pradesh, said while India\u2019s seafood has significant scope in the domestic market, there is an urgent need to tap new overseas buyers.<\/p>\n \u201cWe have to look at new markets such as the Middle East, Russia, South Korea, and Europe,” he said, noting that India\u2019s share in seafood exports to European countries had dropped to 11% from above 35% earlier.<\/p>\n Andhra Pradesh leads India\u2019s seafood exports with nearly a 70% share, followed by Tamil Nadu, Kerala, Gujarat and Odisha.<\/p>\n The US\u2019s 40% transhipment duty on Vietnam has added another woe for Indian exporters, traders said. The Southeast Asian country sources a significant volume of raw and semi-processed shrimp from India for value addition before re-exporting to the US. If Vietnam\u2019s shrimp export market contracts due to the US\u2019s duty, demand for Indian shrimp would also drop.<\/p>\n In FY25, India exported marine products worth $381.77 million to Vietnam, down from $392.55 million in the year before, according to the commerce ministry data.<\/p>\n India is preparing to counter the US\u2019s stiff tariffs on Indian goods by targeting new markets and offering incentives for exporters, Mint reported<\/a> on 8 August. Prime Minister Narendra Modi is particularly focused on protecting the interests of India\u2019s farmers and fishermen.<\/p>\n As part of those efforts, the government is looking to set up trade desks in regions like Africa, Latin America, and Eastern Europe, which could unlock more than $60 billion in untapped export potential.<\/p>\n