<p>New Delhi: Seafood is among the top commodities of India’s exports. In the financial year ending in March 2025, India exported nearly 17 lakh tonnes of seafood worth $7.45 billion, as per the Commerce Ministry data.</p>.<p>Being heavily dependent on the US market, India’s seafood exporters are staring at a massive disruption this year. The United States accounted for nearly 35% of India’s total seafood shipments in 2024-25. Until early August, India’s seafood exporters faced a 10% duty in the US.</p>.<p>Frozen shrimp is one of the biggest export items in quantity, as well as in terms of value, accounting for two-thirds of overall seafood exports. In 2024-25, the US imported shrimps worth $2.4 billion from India. High tariffs have made Indian shrimps uncompetitive in the US markets.</p>.<p>As per Crisil Ratings, India’s shrimp export volume is expected to fall by 15% to 18% in the current financial year when compared with 2024-25, due to the US tariffs.</p>.US tariff: Kerala’s seafood, spice trade gets a beating.<p>“The increase in tariffs to over 50% puts India at a significant competitive disadvantage against other nations such as Ecuador, Vietnam, Indonesia and Thailand, most of which have tariffs less than half that of India. As a result, India’s shrimp exports to the US will become unviable and the export volume will plunge during the rest of this fiscal,” Crisil said in a research note.</p>.<p>The government has asked the seafood exporters to explore alternative markets. The central government has identified Russia, the UK, the European Union, Norway, Switzerland, the Middle East and South Korea, among a new set of focal countries for the export of seafood, D V Swamy, Chairman, the Marine Products Export Development Authority (MPEDA), said recently.</p>.<p>Indian shrimp exporters enjoy the advantage of an evolved domestic infrastructure and strong distribution networks in the US, while production in other countries is not expected to rise substantially in the near term.</p>.<p>The ability of Indian processors to divert their shrimp exports to alternative markets such as the UK (due to the India-UK free trade agreement), China and Russia will support volume to some extent in the second half of this fiscal, Crisil said.</p>.<p>Secretary General of the National Biostimulants Industry Federation (NBIF) Sahil Malik said that the Indian government can protect the interests of farmers and ensure global competitiveness through calibrated tariff measures.</p>.<p>“India, with its rich coastline, abundant lignite, and natural agri-resources, is poised to become the global hub for biostimulants. By embracing seaweeds, humic acid, and amino acids from soya and corn, we can strengthen our farmers, boost exports, and lead the world in sustainable agriculture,” Malik said.</p>
<p>New Delhi: Seafood is among the top commodities of India’s exports. In the financial year ending in March 2025, India exported nearly 17 lakh tonnes of seafood worth $7.45 billion, as per the Commerce Ministry data.</p>.<p>Being heavily dependent on the US market, India’s seafood exporters are staring at a massive disruption this year. The United States accounted for nearly 35% of India’s total seafood shipments in 2024-25. Until early August, India’s seafood exporters faced a 10% duty in the US.</p>.<p>Frozen shrimp is one of the biggest export items in quantity, as well as in terms of value, accounting for two-thirds of overall seafood exports. In 2024-25, the US imported shrimps worth $2.4 billion from India. High tariffs have made Indian shrimps uncompetitive in the US markets.</p>.<p>As per Crisil Ratings, India’s shrimp export volume is expected to fall by 15% to 18% in the current financial year when compared with 2024-25, due to the US tariffs.</p>.US tariff: Kerala’s seafood, spice trade gets a beating.<p>“The increase in tariffs to over 50% puts India at a significant competitive disadvantage against other nations such as Ecuador, Vietnam, Indonesia and Thailand, most of which have tariffs less than half that of India. As a result, India’s shrimp exports to the US will become unviable and the export volume will plunge during the rest of this fiscal,” Crisil said in a research note.</p>.<p>The government has asked the seafood exporters to explore alternative markets. The central government has identified Russia, the UK, the European Union, Norway, Switzerland, the Middle East and South Korea, among a new set of focal countries for the export of seafood, D V Swamy, Chairman, the Marine Products Export Development Authority (MPEDA), said recently.</p>.<p>Indian shrimp exporters enjoy the advantage of an evolved domestic infrastructure and strong distribution networks in the US, while production in other countries is not expected to rise substantially in the near term.</p>.<p>The ability of Indian processors to divert their shrimp exports to alternative markets such as the UK (due to the India-UK free trade agreement), China and Russia will support volume to some extent in the second half of this fiscal, Crisil said.</p>.<p>Secretary General of the National Biostimulants Industry Federation (NBIF) Sahil Malik said that the Indian government can protect the interests of farmers and ensure global competitiveness through calibrated tariff measures.</p>.<p>“India, with its rich coastline, abundant lignite, and natural agri-resources, is poised to become the global hub for biostimulants. By embracing seaweeds, humic acid, and amino acids from soya and corn, we can strengthen our farmers, boost exports, and lead the world in sustainable agriculture,” Malik said.</p>