Seafood exports rise 6% to USD 3.81 bn despite US penalty tax; India expands markets, boosts deep-sea fishing capacity.
Defying concerns over the United States’ 50% penalty tax on Indian seafood consignments, Union Minister of State for Fisheries George Kurian has announced that India’s seafood exports have grown by 6% in the last six months. Exports stood at USD 3,814.99 million, compared to USD 3,409.24 million during the same period last year.
Kurian credited the growth to government initiatives aimed at accessing new global markets, including the European Union, England, Africa, Scandinavian countries, Japan, and China. He noted that while 40% of India’s shrimp previously went to the US market, the impact remained limited, as only consignments already in transit during the tax announcement were affected.
According to Marine Products Export Development Authority (MPEDA) Chairman D. V. Swamy, India recorded an 11.90% increase in seafood exports from April to September year-on-year. Meanwhile, exports to Vietnam surged 105%, Thailand 35.32%, the European Union 32.59%, and China 14%, even as exports to the US declined by 4.65%.
Despite the positive outlook, exporters claim a 75% decline in shipments to the US following the penalty imposition.
In response to regulatory challenges, the Centre will provide 33,000 fishing vessels with Turtle Excluder Devices (TEDs), mandatory for Marine Stewardship Council (MSC) compliance. Each unit costs ₹23,000, shared on a 60:40 ratio between the Centre and states.
Aiming to expand India’s fishing footprint into the 200-nautical-mile Exclusive Economic Zone, the government plans to financially support cooperatives in procuring modern deep-sea and factory vessels. The project was launched in Maharashtra on October 27 by Union Cooperation Minister Amit Shah.
Further supporting maritime safety and efficiency, the Centre will distribute 1 lakh two-way communication transponders this fiscal year; 5,000 have already been delivered in Kerala. Six fishing vessels have also been allocated to local cooperatives.
To ease costs, the ministry will facilitate ₹30 lakh loans via NABARD at 5% interest, with the Centre subsidising 3%, leaving cooperatives to repay only 2%.
With export numbers rising and fleets modernising, India is steering aggressively toward establishing a global leadership role in sustainable fishing, deep-sea exploration, and seafood trade.
Source: The New Indian Express
