Fisheries Ministry Targets Rs 1 Lakh Crore Seafood Exports Despite US Tariff

Union Fisheries Minister Rajiv Ranjan Singh announced on Saturday that India aims to achieve seafood exports worth Rs 1 lakh crore, despite new tariffs imposed by the United States. Speaking to reporters after a consultative meeting with fisheries agencies in Lakshadweep, Singh expressed confidence in overcoming the trade barrier by tapping alternative global markets. The fisheries sector currently contributes Rs 60,000 crore to India’s export economy, and the ambitious target reflects the government’s commitment to growth.

Singh highlighted that recent trade agreements provide access to new markets, mitigating the impact of U.S. tariffs. “The entire UK market is open for us following the Free Trade Agreement signed by our Prime Minister. We also anticipate an FTA with the European Union soon, alongside existing agreements with Japan and New Zealand,” he said. These opportunities, he noted, position India to diversify its export destinations and reduce reliance on the U.S. market.

To achieve the Rs 1 lakh crore goal, Singh emphasized the need for the fisheries sector to focus on value addition, strengthen supply chains, and enhance packaging and certification standards. The ministry is actively supporting these efforts to boost competitiveness. While no specific timeline was provided, Singh stressed that measures are being implemented to meet the target, with the government viewing the U.S. tariff as a challenge to innovate and expand.

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The minister’s remarks underscore India’s strategic push to bolster its fisheries sector, a key contributor to the economy, by leveraging global trade opportunities and improving industry standards to ensure sustainable growth in seafood exports.

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