New Delhi, August 19: India, which used to export a lot of seafood to the US, is now moving towards alternative routes due to 50 percent tariff. It has decided to focus more on Japan, China, Britain and the European Union.
According to the information given to the Rajya Sabha by Union Minister of State for Fisheries George Kurien, India is trying to create an opportunity to supply more seafood to countries like the European Union, Britain, Japan and others.
‘We are looking at various routes. Countries like Japan, China, Britain are ready to get more seafood from India. We are already trading with these countries. However, there is scope to increase exports further,’ Minister Kurien told the Rajya Sabha.
Seafood exports play an important role in the economy of coastal states like Kerala and Andhra Pradesh. India exports a lot of fish like shrimp, prawns, squids etc. Shrimp is the largest export.
In the financial year 2023-24, India exported 17.8 million tonnes of seafood. The total export value of these is $ 7.38 billion. The government has set a target to increase these exports to $ 14 billion. In India’s exports, shrimp accounts for 70 percent.
Furthermore, 40 percent of the shrimp exported from India used to go to the US. Now, due to the 50 percent tariff, the door to America is almost closed. Due to this, India is turning to Japan, China and Britain.
‘Now is the time to reduce dependence on America and expand trading. “Although the tariff shock is hurting, it allows us to take a firmer stance elsewhere,” a government source was quoted as saying by the news agency.
