US trade deal, EU FTA boon to seafood exporters from India

Visakhapatnam: The Seafood Exporters Association of India (SEAI) has welcomed two major trade developments that are expected to revive the Indian seafood export sector. The Government of India, led by Prime Minister Narendra Modi, has successfully concluded a Free Trade Agreement (FTA) with the European Union (EU) and a trade understanding with the USA, resulting in reduced import tariffs on Indian seafood exports.

Speaking to media persons here on Wednesday national president of SEAI G Pawan Kumar said the FTA with the EU is a major breakthrough as it will eliminate import duties on Indian seafood exports to the EU, which currently range from 4.2% to 7.5%. This will provide Indian exporters with a level playing field with global competitors.

In 2024-25, India exported seafood worth approximately $1.1 billion to the EU. The listing of 102 new Indian fishery units by the EU has already led to a surge in exports, with a 28% increase in quantity and a 37.8% increase in value during April-November 2025 compared to the previous year.

While the US is India's largest seafood market, with exports valued at $ 2.78 billion in 2024-25, the high tariffs have impacted exports, leading to a 6.3% decline in value and a 15% decline in quantity during April-November 2025.

Kumar stated that the trade deal with the USA has reduced tariffs on Indian seafood exports from 50% to 18%, thereby restoring competitiveness and market access for Indian exporters. With this tariff reduction to 18%, Kumar anticipates a rebound in exports, potentially reaching previous levels.

SEAI expressed gratitude to the Government of India, particularly Commerce Minister Piyush Goyal and Finance Minister Nirmala Sitaraman, for their efforts in securing these trade agreements. The association also extended its gratitude to the Chief Minister of Andhra Pradesh, Nara Chandrababu Naidu, and Minister Nara Lokesh for their support.

AP president of SEAI K Anand Kumar highlighted the potential benefits of the FTAs with the EU and USA for aqua farmers in Andhra Pradesh. He noted that Andhra Pradesh accounts for 90% of India's aqua exports to the USA. Additionally, high-level talks are ongoing between India and Australia to explore new export markets.

Pawan Kumar acknowledged that the agreements will take some time to come into force. However, he expressed confidence that they will strengthen India's position as a competitive global seafood supplier and lay a strong foundation for sustained market growth.