New Delhi: In a remarkable display of resilience, India’s seafood exports have surged to an all-time high this fiscal year, defying steep US tariffs imposed on key products. Government data reveals that shipments reached $8.09 billion between April and November 2024, marking a 13.9% increase from the previous year.
The Ministry of Commerce and Industry highlighted that marine exports totaled 9,26,824 metric tons during this period, underscoring the sector’s robust growth trajectory. Frozen shrimp, which accounts for over 60% of India’s seafood exports to the US, continues to dominate despite anti-dumping duties ranging from 6.41% to 146.42% on major producers.
This achievement comes amid ongoing trade tensions, where the US has maintained high tariffs to protect its domestic shrimp industry. Yet, Indian exporters have navigated these challenges through diversification, quality enhancements, and exploring new markets like the EU, China, and Southeast Asia.
Union Commerce Minister Piyush Goyal praised the industry’s adaptability, noting that strategic initiatives such as the Marine Products Export Development Authority (MPEDA) have bolstered competitiveness. Investments in sustainable aquaculture and traceability systems have also helped meet stringent international standards.
Looking ahead, officials project total exports could cross $10 billion by March 2025, fueled by rising global demand for protein-rich seafood. This milestone not only boosts farmer incomes in coastal states like Andhra Pradesh and Odisha but also reinforces India’s position as the second-largest seafood exporter worldwide, trailing only China.