India's seafood exports set to compete with Vietnam, Singapore after UK trade deal

Indian seafood exporters are poised to compete on equal terms with Vietnam and Singapore in the UK market, following the signing of a comprehensive trade agreement that eliminates previous tariff disadvantages, according to the fisheries ministry.

The deal puts Indian marine products on par with competitors from Vietnam and Singapore, which already benefit from the United Kingdom-Vietnam Free Trade Agreement (UK-VFTA) and UK-Singapore Free Trade Agreement (UK-SFTA), respectively.

According to the ministry, Indian exporters previously faced tariff barriers that put them at a competitive disadvantage, particularly for high-value products, including shrimp and value-added seafood goods.

The elimination of these tariffs is expected to help Indian companies leverage the country's substantial production capacity, skilled workforce, and enhanced traceability systems to capture a larger share of the UK seafood market, it added.

The trade agreement also provides Indian exporters with an opportunity to reduce their dependence on traditional markets, such as the United States and China, by diversifying into the UK market.

With the trade deal, the industry estimates a 70% surge in marine exports to the UK in the coming years, the ministry said in a statement.

India's seafood sector has invested heavily in improving traceability and quality standards in recent years, positioning the industry to take advantage of the improved market access conditions.

The development aligns with India's broader goal of becoming a global leader in sustainable marine trade.

Industry analysts said the agreement comes at an opportune time when global supply chains are being restructured and countries are looking to diversify their import sources, the statement added.

India's total seafood exports in 2024-25 reached ₹60,523 crore, amounting to 1.78 million tonnes. Marine exports to the UK were valued at ₹879 crore. However, India's share in the UK's USD 5.4 billion seafood import market is just 2.25%.