India Eyes New Markets to Counter US Seafood Tariffs

As the US imposes hefty tariffs of up to 50% on Indian goods, including seafood, the Marine Products Export Development Authority (MPEDA) chairman, D V Swamy, urged India’s seafood industry to tap alternative markets to mitigate the impact. Speaking at a press conference on the eve of MPEDA’s 53rd anniversary, Swamy highlighted Russia, the UK, the EU, Norway, Switzerland, the Middle East, and South Korea as promising new destinations for India’s seafood exports.

“Let’s view this as an opportunity, not an obstacle,” Swamy declared, emphasizing the sector’s resilience, proven during the early 2000s black tiger shrimp crisis. He stressed diversifying both markets and seafood varieties to counter rising competition from countries like Ecuador. In 2024-25, India exported 16,98,170 metric tonnes of seafood worth Rs 62,408.45 crore (USD 7.45 billion), with frozen shrimp leading at 44% of both volume and value, followed by frozen fish (20%), squid, cuttlefish, and live items.

The US remains India’s top market, importing 3,11,948 metric tonnes of frozen shrimp, followed by China with 1,36,164 tonnes. Andhra Pradesh led exports with USD 2,536.77 million, followed by Tamil Nadu, Kerala, Gujarat, West Bengal, and Telangana. Visakhapatnam port handled 31.52% of exports, with Navi Mumbai’s JNPT, Kochi, Chennai, and Kolkata also significant.

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Swamy noted MPEDA’s global outreach, including 92 buyer-seller meets and 12 exporter delegations over the past five years, with participation in seafood fairs across the US, Europe, and Asia. The upcoming Seafood Bharat Expo, set for July 1-3, 2026, in Chennai, aims to further boost India’s global presence. Social media posts reflect optimism, with exporters eyeing Japan and the EU to offset losses from the US market, projected to see a 7-9% drop in shrimp export volume due to tariffs.

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