India’s seafood exports rise to $4.82 bn despite steep US tariffs:Goyal

India’s seafood exports posted solid growth despite stiff trade barriers, rising to $4.82 billion during April–October of the current financial year from $4.21 billion a year earlier, Union Commerce and Industry Minister Piyush Goyal said on Tuesday.After the Board of Trade meeting, Goyal noted that a deliberate push toward market diversification, particularly increased access to the European Union, helped shield the sector from the impact of the 50% tariff imposed by the United States. The tariff, effective from August 27 under the Trump administration’s broad revision of duties on Indian goods, has led to a sharp fall in shipments to the US.
A significant development came as the EU recently approved 102 Indian fishery establishments for exports following almost a decade of negotiations. The lifting of the earlier ban—imposed over quality concerns—arrived at a critical time for India’s seafood exporters, many of whom faced heightened uncertainty due to the steep US tariffs.Goyal highlighted that beyond the EU, seafood shipments registered strong demand from China, Russia, Canada, Vietnam, and the UK, signalling a wider realignment in global buying patterns.Goyal said India’s overall merchandise trade for April–October also outperformed the corresponding period of the previous year, demonstrating the resilience of Indian exports despite rising global trade challenges.

(Business Correspondent)