India’s Exports: India is no longer just a major exporter of products like sugar, onions, and wheat; it has now made a significant mark in the seafood industry as well. According to the Ministry of Finance, India’s seafood exports crossed ₹60,000 crore in the financial year 2024-25. Data reveals that the country exported 1.78 million tons of seafood, earning ₹60,523.89 crore, an impressive achievement despite facing challenges in the global export market.
Government Efforts Pay Off
The Indian government has taken several impactful measures to boost seafood exports. To support shrimp and fish feed production, the government reduced the Basic Customs Duty (BCD) on key inputs used in feed production to just 5%. These inputs include:
- Broodstock and polychaete worms
- Krill meal and fish lipid oil
- Raw fish oil and algal prime (flour)
- Single-cell protein derived from natural gas
With this reduction, shrimp and fish feed inputs now attract only a 5% customs duty, making production more cost-effective and competitive globally.
USA: The Biggest Buyer – In the fiscal year 2024, the United States emerged as the largest buyer of Indian seafood, accounting for 34.53% of total exports. Notably, 91.9% of this was frozen shrimp, which remains highly sought after in the American market.
China’s Growing Interest – China has become India’s second-largest seafood importer, purchasing 451,000 metric tons of seafood worth approximately $1.38 billion. This highlights China’s increasing demand for Indian seafood products. India’s success in seafood exports reflects its growing strength on both economic and global fronts. With the government’s strategic reforms and consistent efforts, the sector has outperformed expectations. If this momentum continues, India’s seafood exports are poised to grow even further in the coming years.
