India-UK trade deal to boost shrimp, squid, and lobster exports
What's the story
India's seafood exports to the UK are set for a major boost after both countries signed a Comprehensive Economic and Trade Agreement (CETA). The deal will give Indian exporters an opportunity to diversify their markets beyond traditional partners such as the US and China. The CETA offers zero-tariff access and opens up key services sectors for both nations.
Export growth
Key seafood exports to UK
The Ministry of Fisheries, Animal Husbandry & Dairying has said that the new trade deal will help Indian exporters gain market share for important seafood exports. They include Vannamei shrimp, lobsters, frozen squid, and frozen pomfret.
Tariff removal
UK removes import tariffs
As part of the trade deal, the UK has agreed to remove import tariffs on a wide range of seafood items from India. "Under CETA, all fish and fisheries commodities falling under the UK tariff schedule categories marked 'A' now enjoy 100% duty-free access from the date of entry into force of the agreement," said an official statement.
Market share
India's share in UK's seafood import market is 2.25%
India's seafood export industry was worth $7.38 billion (₹60,523 crore) in FY2024-25, with frozen shrimp accounting for 66% of the total exports. Seafood exports to UK were valued at $104 million (₹879 crore) during this period, with frozen shrimp contributing 77% of total exports. However, India's share in Britain's $5.4 billion seafood import market is just 2.25%. Now that CETA is in effect, industry estimates expect a 70% increase in marine exports to the UK over coming years.