India’s seafood exports hit new record of over Rs 72,000 crore

• India’s seafood exports rose to a record Rs 72,325.82 crore ($8.28 billion) in FY 2025–26, with volumes reaching 19.32 lakh metric tonnes, according to provisional data released by Marine Products Export Development Authority (MPEDA).

• Frozen shrimp remained the primary growth driver, contributing Rs 47,973.13 crore ($5.51 billion), accounting for over two-thirds of total export earnings. 

• Shipments of shrimp grew 4.6 per cent in volume and 6.35 per cent in value, reinforcing its dominance in India’s marine products export basket.

• The United States retained its position as the largest export destination, with imports totalling $2.32 billion. 

• However, shipments to the US declined by 19.8 per cent in volume and 14.5 per cent in value, reflecting primarily the impact of reciprocal tariffs.

• This decline was offset by robust growth in alternative markets such as China, European Union and Southeast Asian countries. 

• Exports to China, the second-largest destination, rose 22.7 per cent in value and 20.1 per cent in volume. 

• The European Union posted strong gains, with exports increasing by 37.9 per cent in value and 35.2 per cent in volume. 

• Southeast Asia also recorded significant expansion, with growth of over 36.1 per cent and 28.2 per cent in value and volume, respectively. 

• Exports to Japan grew 6.55 per cent by value, while those to West Asia showed a marginal decline of 0.55 per cent, due to the turmoil in the region during the fag end of the financial year.

• Several individual markets registered strong double-digit growth, underscoring a clear shift towards diversification amid trade headwinds in traditional markets.

• On the product side, exports of frozen fish, squid, cuttlefish, dried items, and live products showed positive momentum, while chilled products declined. 

• The export of the surimi, fishmeal and fish oil reported improved performance.