Despite 50% American tariffs, Indian seafood exports rose 11.6% between April and September as India sought new markets like the European Union (EU), Russia, and the United Kingdom. Seafood has been among the worst affected sectors from President Donald Trump\u2019s tariffs.<\/p>\n
Despite 50 per cent American tariffs, Indian seafood exports increased by 11.6 per cent year-on-year between April and October, according to data from the Ministry of Commerce and Industry.<\/p>\n
US President Donald Trump has STORY CONTINUES BELOW THIS AD<\/p>\n But it now appears that Indian exporters have weathered the storm so far.<\/p>\n India seeks new export markets to make up for loss of US market<\/p>\n The key to weathering the storm has been replacing the traditional US market with newer destinations in the European Union (EU), the United Kingdom (UK), Russia, China and Vietnam.<\/p>\n As a result of export diversification, seafood revenue during the period rose to $4.69 billion from $4.2 billion a year ago, according to The Economic Times.<\/p>\n As India also sought to explore export opportunities in Russia and leverage its improved relationship with China.<\/p>\n US out, EU in: India\u2019s new export strategy<\/p>\n After Trump made Indian goods less competitive, India found a stronger trading partner in the EU.<\/p>\n India\u2019s overall seafood exports to the EU rose 40 per cent in the April\u2013October period, while shrimp exports \u2014the most vulnerable product\u2014 surged 57 per cent, according to ET.<\/p>\n The driving force behind the surge is the EU\u2019s inclusion of 102 fishery units in its list of importable items. Similarly, exports to Russia grew after the country added 29 Indian fishery units to its list.<\/p>\n As Firstpost\u2019s Madhur Sharma previously reported, STORY CONTINUES BELOW THIS AD<\/p>\n \u201cIt was not just about facts and figures but about the livelihood of people,\u201d said Ram Singh, a professor of international trade at the Indian Institute of Foreign Trade (IIFT), Delhi.<\/p>\n \u201cShrimp producers are at the bottom of the socioeconomic pyramid. Around half of all Indian shrimps are exported to the United States. While consumption growth can balance the GDP growth numbers and new markets may be found for other exports, shrimp producers are neither going to benefit from domestic consumption growth nor can they wait for long-term solutions. For them, immediate support is needed in the form of a financial support package,\u201d Singh told Sharma in August.<\/p>\n Home<\/a>India<\/a>How Indian seafood exports turned the tide after US tariffsEnd of Article<\/p>\n","protected":false},"excerpt":{"rendered":"Despite 50% American tariffs, Indian seafood exports rose 11.6% between April and September as India sought new markets…\n","protected":false},"author":2,"featured_media":167029,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,99565,184,99563,99561,85,99558,46,99564,99562,99560,99559],"class_list":["post-167028","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-china-seafood-trade","tag-economy","tag-eu-seafood-imports","tag-export-diversification-india","tag-il","tag-indian-seafood-exports","tag-israel","tag-russia-seafood-imports","tag-seafood-export-markets","tag-shrimp-exports-india","tag-us-tariffs-on-indian-seafood"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/167028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=167028"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/167028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/167029"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=167028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=167028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=167028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nimposed 50 per cent tariffs on India<\/a> \u2014 making the country the most heavily tariffed in the world. These tariffs began taking effect in August. From the outset, seafood exports \u2014particularly shrimps\u2014 were expected to be the hardest hit.<\/p>\n
\nFirstpost\u2019s Madhur Sharma previously reported<\/a>, well before Trump\u2019s tariffs came into force, India had been engaged in trade talks with South American nations such as Peru and Chile; the EU; and the Eurasian Economic Union (EEU), and had struck deals with the UK and the European Free Trade Association (EFTA) as part of efforts to find new export destinations for goods affected by tariffs.<\/p>\n
\nthe immediate concern after tariffs were imposed was for sectors such as seafood, primarily shrimps, and textiles<\/a>.<\/p>\n