Govt asks seafood exporters to explore new markets

India’s seafood exporters, who have been hit by a cumulative 59% tariff in the US, need to bravely face the challenges and explore alternative markets for shipments besides expanding domestic supplies, said Mr Rajiv Ranjan Singh Lalan, Fisheries Minister, after meeting with seafood exporters and stakeholders. Several markets, including the European Union (EU), Japan, South Korea, Russia and other markets, present opportunities for seafood exporters. India will have to face the current challenges, and the recently signed Free Trade Agreement (FTA) with the UK also has provisions for the fisheries sector. He also urged exporters to take advantage of the Fishery Infrastructure Development Fund to upgrade and strengthen value-addition, processing and packaging facilities. India’s seafood exports, mostly frozen shrimp, were valued at $7.38 billion in FY25, with the United States having a share of 35% ($2.8 billion), as per a report.

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