Why in News?
India’s seafood exports have reached an all-time high of ₹72,325.82 crore (approx. $8.28 billion) in the financial year 2025–26, according to provisional data released by the Marine Products Export Development Authority (MPEDA).
Dominant Products
- Frozen Shrimp: Remained the flagship item, earning ₹47,973.13 crore ($5.51 billion).
- Shrimp Share: Contributes over two-thirds of India's total seafood export earnings.
- Secondary Items: Significant contributions from frozen fish, squid, and cuttlefish.
- Value Addition: Share of processed, value-added products rose to 11% of the basket.
Major Export Destinations
- United States: Still the largest importer ($2.32 billion) but saw a 19.8% drop in volume due to trade barriers.
- China: The second-largest destination, growing 22.7% in value.
- European Union (EU): Posted massive gains, with value up 37.9% and volume up 35.2%.
- Southeast Asia: Recorded double-digit growth of 36.1% in value.
Government Initiatives & Support
The government is driving a "diversified market, multiple species" strategy to reduce single-market risks:
- PMMSY Support: The Pradhan Mantri Matsya Sampada Yojana is modernising infrastructure and expanding high-value species like Tuna and Sea Bass.
- Budget 2026: Proposed increasing the duty-free import limit for seafood processing inputs from 1% to 3% to lower costs.
- Digital Reforms: The Marine Products Export Development Authority (MPEDA) digitised the Sanitary Import Permit system, cutting approval times from 30 days to 72 hours.
- Global Outreach: Initiatives like Seafood Expo Bharat and trade delegations to France are being used to forge new B2B partnerships.
Challenges Ahead
- High US Tariffs: Effective duties on Indian shrimp remain a significant hurdle for price competitiveness.
- Unit Price Decline: Despite high volumes, global unit prices for some species have softened, impacting net returns.
- SPS Compliance: Rising non-tariff barriers in the EU and US require constant investment in quality assurance and traceability.
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