Indian seafood exporters set to seize larger share of UK market, go global: Govt

New Delhi, July 26 (IANS) With India's vast production capacity, skilled manpower and improved traceability systems, the India-UK trade pact enables domestic exporters to seize a larger share of the UK market and diversify beyond traditional partners like the US and China, the government said on Saturday.

The Comprehensive Economic and Trade Agreement (CETA), signed in the presence of Prime Minister Narendra Modi and his UK counterpart Keir Starmer, marks a turning point for India's fisheries sector not just by offering duty-free access to a premium market but also by uplifting coastal livelihoods, enhancing industry revenues, and strengthening India's reputation as a reliable supplier of high-quality, sustainable seafood.

"For fisherfolk, processors, and exporters alike, this is a unique opportunity to step onto a larger global stage. This agreement contributes meaningfully to India's broader goal of becoming a global leader in sustainable marine trade," said the Ministry of Fisheries, Animal Husbandry and Dairying in a statement.

Indian seafood now competes on par with countries like Vietnam and Singapore, which already benefit from FTAs with the UK (UK-VFTA) and UK-Singapore Free Trade Agreement (UK-SFTA), respectively.

This levels the playing field and removes tariff disadvantages that Indian exporters previously faced, especially for high-value products like shrimp and value-added goods, said the ministry.

CETA offers zero-duty access on 99 per cent of tariff lines and opens up key services sectors.

Notably, for the marine sector, the agreement removes import tariffs on a wide range of seafood products, enhancing Indian exporters' competitiveness in the UK market. This is expected to particularly benefit exports of shrimp, frozen fish, and value-added marine products, boosting India's presence in one of its major seafood destinations alongside labour-intensive sectors like textiles, leather, and gems and jewellery.

India's total seafood exports in 2024–25 reached $7.38 billion (Rs 60,523 crore), amounting to 1.78 million metric tonnes. Frozen shrimp remained the top export, accounting for 66 per cent of earnings with $4.88 billion. Marine exports to the UK specifically were valued at $104 million (Rs 879 crore), with frozen shrimp alone contributing $80 million (77 per cent).

The key seafood exports to the UK currently include Vannamei shrimp (Litopenaeus vannamei), frozen squid, lobsters, frozen pomfret, and black tiger shrimp - all of which are expected to gain further market share under CETA's duty-free access, according to the government.

--IANS

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