Our fisheries exports have risen from Rs 60,000 cr to Rs 68,000 cr after US tariffs: MoS Baghel
India's fisheries exports have risen to approximately ₹68,000 crore from ₹60,000 crore, with the sector showing strong resilience despite the United States imposing sharply higher tariffs on Indian seafood products.
The US raised tariffs on Indian shrimp (which constitutes ~90% of India's seafood exports to the US) to a cumulative 58.26% in phases since April 2025, making Indian seafood less price-competitive in the American market.
India responded by aggressively diversifying exports to the EU, UK, ASEAN, West Asia, Japan, and China — successfully sustaining and growing overall export value.
The Ministry of Fisheries, Animal Husbandry and Dairying has set a target of ₹1 lakh crore in annual fisheries exports within the next five years.
India's overall seafood exports rose approximately 21% in value (April-October 2025 vs. April-October 2024) despite the US tariff headwind.
Pradhan Mantri Matsya Sampada Yojana (PMMSY) — Blue Economy Flagship
The Pradhan Mantri Matsya Sampada Yojana (PMMSY) is the Government of India's flagship scheme for transforming the fisheries sector, launched in 2020 and implemented through FY2024-25 with a total investment of ₹20,050 crore. It succeeded the Blue Revolution Scheme (2015-16) and aims to address critical gaps in fish production, post-harvest infrastructure, quality management, value chain development, and fishermen's welfare. PMMSY targets doubling fisheries export earnings to ₹1,00,000 crore and creating 55 lakh direct and indirect employment opportunities.
Key Details
- India's fish production has roughly doubled in the past decade; fish production was 137.58 lakh metric tonnes in 2018-19; target under PMMSY is 220 lakh metric tonnes by 2024-25.
- The scheme operates in marine fisheries, inland fisheries, and aquaculture (India is the world's third-largest fish producer and second-largest aquaculture nation).
- A sub-scheme, Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY), was launched under PMMSY to formalise the sector and support micro and small fisheries enterprises.
- The Budget 2026-27 announced the highest-ever annual budgetary support of ₹2,761.80 crore for fisheries, with PMMSY receiving ₹2,500 crore.
PMMSY's infrastructure and institutional support has equipped Indian seafood exporters to pivot to new markets when US tariffs hit — its cold chain, processing, and quality certification investments are the foundation of India's export resilience.
India's Export Diversification and Trade Resilience Strategy
Export market diversification is a core trade policy objective — reducing dependence on any single market limits vulnerability to tariff shocks, demand downturns, or political disruptions. India's fisheries sector previously depended on the US for a significant share of shrimp exports. The US tariff escalation under the 2025-26 trade dispute forced rapid diversification, with exporters successfully expanding in ASEAN, EU, and Gulf markets. This mirrors India's broader trade strategy of reducing excessive dependence on the China-US axis.
Key Details
- India is the world's second-largest seafood exporter after China, with marine products comprising approximately 18% of total agricultural exports.
- Frozen shrimp is the single largest export item, accounting for 55-60% of total seafood export earnings.
- The Marine Products Export Development Authority (MPEDA) under the Ministry of Commerce coordinates quality standards, market development, and export promotion for Indian seafood.
- India's seafood exports reached a record ₹62,408 crore in FY2024-25 before the current growth to ₹68,000 crore.
The 21% export growth despite 58% US tariffs is a demonstration of trade resilience in practice — India's fisheries sector diversified markets rather than absorbing the loss, and UPSC may test this as a case study in export policy effectiveness.
US Tariff Dynamics and India's Trade Policy Response
The US has used tariffs extensively as a trade policy instrument, particularly on agricultural and seafood products where domestic industry lobbying is strong. For Indian shrimp, US tariff escalation was driven partly by anti-dumping investigations and partly by broader India-US trade tensions. India's response has been a combination of WTO dispute mechanism engagement, bilateral negotiation (leading to the February 2026 India-US Interim Trade Agreement), and market diversification. The interim trade deal reduced US reciprocal tariffs on Indian goods from 25% to 18%, though sector-specific duties on shrimp remain higher.
Key Details
- The India-US Interim Trade Agreement (February 2026) gave India tariff relief on textiles, pharmaceuticals, and electronics, while India agreed to concessions on US agricultural products (DDGS, soybean oil, tree nuts, wine).
- Aquaculture products (shrimp) face ongoing anti-dumping duties from the US that are separate from the broader reciprocal tariff framework.
- WTO's Anti-Dumping Agreement allows member countries to impose anti-dumping duties when imported goods are sold below normal value, causing injury to domestic producers.
The fisheries export growth story demonstrates that proactive diversification and government support (PMMSY, MPEDA) can offset the impact of targeted foreign tariffs — a key example for mains answers on India's export policy and trade resilience.
- India fisheries exports: ₹60,000 cr → ₹68,000 cr (current year vs previous)
- Seafood export record: ₹62,408 crore in FY2024-25
- Year-on-year growth: ~21% in value (April-October 2025 vs. same period 2024)
- US tariff on Indian shrimp: ~58.26% cumulative (imposed in phases from April 2025)
- Shrimp share of India's seafood exports to US: ~90%
- Government target: ₹1 lakh crore in annual fisheries exports within 5 years
- PMMSY investment: ₹20,050 crore (FY2020-21 to 2024-25)
- PMMSY fish production target: 220 lakh metric tonnes (from 137.58 LMT baseline)
- MPEDA: Marine Products Export Development Authority — under Ministry of Commerce
- India: world's 3rd largest fish producer, 2nd largest aquaculture nation