Seafood Exports to EU Surge 20 Percent Amid Market Expansion

Seafood exports from India to the European Union have experienced a significant increase of 20 percent, reaching a total of 215,080 metric tonnes valued at approximately Rs 9,430 crore (US$ 1,125.6 million). This surge comes as exporters diversify their markets in response to the impact of heightened tariffs imposed by the United States. The primary products driving this growth include frozen shrimp, cuttlefish, and squid.

In a statement, DV Swamy, chairman of the Marine Products Export Development Authority (MPEDA), highlighted the EU’s recent decision to include 102 new Indian fishery establishments on its export list, which is expected to further bolster trade relations. Swamy noted that following the 50 percent increase in US tariffs, Indian exporters are now actively seeking opportunities in markets such as Russia, the EU, the Middle East, and South Korea. Additionally, there is a push to strengthen the domestic seafood market.

Strategic Initiatives to Enhance Exports

MPEDA is implementing various initiatives aimed at improving export logistics. These include enhancing cold chain infrastructure, providing financial incentives for refrigerated containers and air cargo, and promoting quality standards to facilitate market access. Swamy remarked, “We are also signing Free Trade Agreements with many countries that would significantly increase seafood exports from India by removing tariffs and opening new market opportunities.”

To further support exporters, MPEDA has encouraged the organization of buyer-seller meetings and participation in international trade fairs. These efforts aim to foster new market development while also building a robust domestic market to reduce reliance on exports. Swamy emphasized the importance of consumer awareness campaigns and strengthening the domestic supply chain.

Market Dynamics and Future Outlook

The government is actively supporting exporters through various financial incentives, including subsidies for the use of refrigerated containers and air cargo. According to MPEDA data, the United States and China remain India’s largest seafood markets, with the US leading imports of frozen shrimp at 311,948 metric tonnes, followed closely by China at 136,164 tonnes.

In the fiscal year 2024-25, India exported a total of 1,698,170 tonnes of seafood, valued at Rs 62,408.45 crore (US$ 7.45 billion). Frozen shrimp continues to dominate this sector, accounting for 44 percent of both quantity and value, followed by frozen fish at 20 percent, along with frozen squid, frozen cuttlefish, and chilled and live seafood items.

With ongoing efforts to enhance export strategies and explore new markets, the outlook for India’s seafood exports appears promising. The combination of strategic market expansion and government support is expected to play a crucial role in sustaining growth in this vital industry.