Seafood exports to the UK could rise to $180-200 million in the coming year, from around $100 million in the last fiscal year, said K.N. Raghavan, Secretary-General of SEAI
The signing of the India-UK FTA will open up a new market for India in the seafood sector by providing it a level playing field with other exporting countries, according to the Seafood Exporters’ Association of India. The agreement comes at a time when the sector faces headwinds in its largest market, the US, said K.N. Raghavan, Secretary-General of SEAI.
The signing of the FTA is expected to give seafood exports to the UK a boost; exports to the UK could go up to $180-200 million in the coming year, from around $100 million in the last fiscal year, he said. Frozen shrimp and prawns were the major items in the export basket. D.V. Swamy, Chairman, Marine Products Export Development Authority (Mpeda), said the elimination of tariffs under the FTA is expected to unlock rapid growth, particularly in shrimp, tuna, fish, fishmeal, and feeds.
The UK is a high-value consumer of Indian frozen seafood, especially shrimp, white fish, and squid in frozen form, he said. India’s share of the UK’s $5.4-billion marine import market is just 2.25 percent, underscoring a significant untapped export opportunity.
Exports to the UK stood at 16,082 tonnes worth $104.43 million in 2024-25. Frozen shrimp was the major export item, contributing 77 percent of total exports ($80.05 million). The CETA (Comprehensive Economic and Trade Agreement) eliminates UK tariffs, improving price realisation for Indian exporters, benefits that flow down to coastal fisherfolk through higher procurement rates. By improving UK market access, seafood processing plants can increase capacity utilisation further, he said, adding that coastal states stand to benefit significantly from export-led job creation.
News Courtesy: Thehindubusinessline