The US reciprocal tariff on seafoodimports from India is probably going to rattle the nation’s marine fisheries sector within the short-run, nevertheless it opens up opportunities for long-term strategic re-adjustments. The 26 per cent tariff will lead to a considerable enhance in the price of Indian seafood for US importers, leaving them much less aggressive within the US market in contrast to each domestically sourced seafood and imports from nations that face decrease or no tariffs.
Nevertheless, a long-term technique will allow India to intensify their efforts in exploring and penetrating various export markets past the US, stated A. Grinson George, Director of ICAR-Central Marine Fisheries Analysis Institute (CMFRI).
“Exploring opportunities to enhance the export of such merchandise, in addition to value-added seafood objects, might assist diversify the export portfolio and scale back the general reliance on the US shrimp market,” he stated including {that a} basic restructuring of India’s seafood export business would lead to a decreased dependence on the US market
Analysis wanted
He stated markets akin to Europe, China and the Center East offer important opportunities for diversification. Nevertheless, this requires devoted market analysis to perceive native client preferences, regulatory necessities and aggressive landscapes.
The current disaster might end up to be a possibility if the Indian seafood processing sector rises to the event by overhauling its value-addition methods and by discovering new markets. Presently, lower than 10 per cent of all seafood merchandise exported from India are in value-added varieties, he stated.
A strategic reallocation of investments is required in the direction of processing services that cater to the precise calls for and laws of other markets, emphasising on worth addition which have stronger demand in non-US markets.
The general worth of seafood exports from India to the US in FY24 stood at $2.55 billion out of India’s complete seafood exports of $7.38 billion.
Home market potential
Apart from, there may be appreciable potential to enhance home consumption of fish and fish merchandise, particularly in non-coastal states, the place demand is experiencing a gradual upward pattern pushed by rising incomes and consciousness of well being advantages of blue meals. The fast-growing home business for recent fish and value-added varieties may soak up the manufacturing if such potential is tapped successfully by proactive coverage measures akin to enhancing home market infrastructure, logistic assist and total enhancements within the worth chain effectivity, Grinson George stated.
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Revealed on April 8, 2025
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