A trade agreement with the European Union, followed by a deal with the US, is set to take India’s marine product exports to new heights in the coming years. In the 2024-25 financial year, India’s total marine product exports reached a record $745 crore. This milestone was achieved through the export of 16,98,170 tonnes, valued at ₹62,408.45 crore.

Approximately 35-38% of Indian marine product exports are destined for the US, totalling $278 crore. While the US imposes import duties of 20% on Vietnam and 19% on Thailand, India benefits from a lower rate of 18%. Consequently, Indian marine exports have become significantly more competitive.

Exports to cross $300 crore

The trade agreement with the US is expected to further boost India’s marine exports, said Dr K.N. Raghavan, Secretary General of the Seafood Exporters Association of India. “Annual exports to the US currently stand at approximately $270 crore. In the current fiscal year, it will reduce. Figures from April to November 2025 indicate a 6.5% reduction in exports. It is expected that exports may skyrocket and cross the $300 crore mark in the next financial year,” he added.

Kerala’s performance

Kerala contributes 11-14% of India’s total marine product exports. Within the state's export share, frozen shrimp accounts for 34.5%, while other frozen fish constitute 21.6%.