Fisheries Ministry Sets Rs 1 Lakh Crore Seafood Export Target Despite US Tariff Hurdle

Union Fisheries Minister Rajiv Ranjan Singh on Saturday said the ministry has set a target of achieving seafood exports worth Rs one lakh crore, despite the recent tariff imposed by the United States.

Speaking to reporters after a consultative meeting with various fisheries agencies on the development of the sector in Lakshadweep, Singh said there are alternative markets to counter the US tariff crisis.

The US has imposed tariffs of over 50 per cent on seafood exports from India.

“Today, the entire market in the UK is open for us after our Prime Minister signed a Free Trade Agreement (FTA). An FTA with the European Union is also expected soon. We already have trade agreements with Japan and New Zealand. So, there are several markets open for us,” the minister said.

He stressed that the fisheries sector and exporters must adapt to tap these opportunities. “We have to focus on value addition, strengthening the value chain, and improving packaging and certification. The ministry is actively working on these areas,” Singh said.

The minister added that the government has taken the tariff issue as a challenge and is committed to expanding into new markets. “We have set a target of achieving Rs one lakh crore worth of exports. At present, the fisheries sector contributes about Rs 60,000 crore,” he said.

When asked about a timeline for achieving the target, Singh said that while measures are being put in place, no specific deadline has been set.