Seafood exports rise as India's diversification softens Trump tariff impact
What's the story
India's seafood industry is witnessing a major shift in its export strategy, with a significant surge in shrimp shipments. The growth comes as exporters look beyond the United States to diversify their markets and counter rising tariffs in the US market. According to CareEdge Ratings, shrimp exports grew by an impressive 18% year-on-year during the first five months of FY26.
Market expansion
Non-US markets drive shrimp export growth
The report highlights that non-US destinations like Vietnam, Belgium, China, and Russia have been instrumental in this growth. The total export value for shrimp during this period was $2.43 billion with shipment volumes reaching 3.48 lakh metric tons (LMT). Notably, non-US markets contributed a whopping 86% of the total increase in export value during this period.
Market share
Non-US markets now account for 57% of shrimp exports
The report further reveals that the share of non-US markets in total shrimp exports has grown from 51% in 5MFY25 to 57% in 5MFY26. This shift indicates a strategic expansion by Indian exporters into new and previously untapped global markets. It also highlights how the industry is adapting to changing trade dynamics and finding new opportunities outside its traditional stronghold, the US market.
Export destinations
China now India's largest seafood buyer among non-US markets
Among non-US markets, China has emerged as the biggest buyer of Indian seafood with a 16% rise in exports. Japan, which was earlier a reprocessing market, maintained stable export levels. Vietnam's role as a re-export hub strengthened with exports doubling to $0.18 billion while those to Belgium also doubled to $0.14 billion amid improved demand from the European Union and better compliance with traceability requirements by Indian exporters.
Market outlook
Future challenges and opportunities for Indian seafood exporters
The report cautions that the momentum of export growth could slow down in H2 FY26 due to US market pressures and weaker fresh orders. However, it also notes that efforts to open new markets and increased approvals for Indian units exporting to the EU and Russia are likely to support the industry. This indicates a proactive approach by exporters in navigating global trade challenges while capitalizing on emerging opportunities.