A testament to export prowess, India’s seafood trade has shattered records amid US tariff pressures. From April-November 2024, earnings jumped 13.9% to $8.09 billion, with 9,26,824 tonnes dispatched, the Commerce Ministry announced.
The US market, hit with duties up to 146% on shrimp, still drew substantial volumes thanks to competitive pricing and superior quality. Exporters mitigated risks by ramping up sales to China (up 20%) and the EU (up 15%).
Behind the numbers: MPEDA’s thrust on blockchain traceability, organic feeds, and R&D for hardy shrimp strains. Coastal clusters in Gujarat, Tamil Nadu, and West Bengal have modernized, boosting productivity 25%.
This windfall supports Atmanirbhar Bharat by curbing import dependence on edible oils and enhancing forex reserves. Challenges like El Niño weather persist, but insurance schemes and climate-resilient practices offer buffers.
With global seafood demand projected to rise 20% by 2030, India’s trajectory points to $15 billion exports by decade-end, driven by policy support and private innovation.