India’s seafood exports reached a record ₹72,325.82 crore ($8.28 billion) in FY 2025–26, with volumes climbing to 19.32 lakh metric tonnes, according to the Marine Products Export Development Authority (MPEDA).
Frozen shrimp continued to anchor export growth, contributing ₹47,973.13 crore ($5.51 billion) and accounting for more than two-thirds of total earnings. Shipments rose 4.6% in volume and 6.35% in value, reinforcing shrimp’s dominant position in India’s marine export basket.
Other product categories—including frozen fish, squid, cuttlefish, dried items, and live seafood—also recorded positive growth, while chilled products saw a decline. Value-added segments such as surimi, fishmeal, and fish oil showed improved performance.
US shipments decline amid tariff pressures
Despite trade headwinds, the United States remained India’s largest export market, importing seafood worth $2.32 billion. However, shipments to the US dropped 19.8% in volume and 14.5% in value, largely due to tariff-related challenges.
Tariffs introduced under Donald Trump—including additional levies, countervailing duties, and anti-dumping measures—pushed total taxes on Indian shrimp exports as high as 58% at one stage. Although these were later reduced to around 18%, Indian exporters continued to face stiff competition from countries such as Ecuador, Vietnam, and Thailand, which benefit from relatively lower tariffs.
Diversification offsets US slowdown
India’s strategy to diversify export markets helped offset the decline in US demand. Exports to China, the second-largest destination, rose sharply by 22.7% in value and 20.1% in volume.
The European Union also emerged as a strong growth market, with exports increasing 37.9% in value and 35.2% in volume. A recently concluded free trade agreement between India and the EU is expected to further boost shipments by eliminating the bloc’s existing 26% tariff on seafood.
Southeast Asia recorded robust gains, with exports rising 36.1% in value and 28.2% in volume, while shipments to Japan grew 6.55%, reflecting steady demand. Exports to West Asia, however, dipped slightly by 0.55%, impacted by regional instability linked to tensions involving the US and Iran.