Kendrapada: Odisha’s seafood sector will get a major boost following the signing of the free trade agreement (FTA) between India and the
European Union, raising hopes of recovery after exporters suffered heavy losses due to steep US tariffs imposed last year, officials said.
Frozen shrimp and frozen fish are the state’s primary export items. The US continued to be the largest market for Indian seafood, but exporters faced a severe setback after Washington slapped a 60% tariff on seafood imports from India, sharply impacting shipments and revenues.
“All seafood exporters of Odisha were in deep trouble as they depend heavily on the US market, which traditionally absorbs the bulk of Indian seafood exports. The FTA with EU has opened a fresh window of opportunity,” said Sangram Kumar Das, president of the Seafood Exporters Association of India, Odisha chapter.
Das said processed shrimp fetches $8-$10 per kg in the US, compared with $5–$6 per kg in other markets. “After the FTA with EU, exporters will target European markets more aggressively to revive and sustain the sector,” he added.
At present, EU levies customs duties ranging from 4% to 26% on Indian marine products such as shrimp, frozen fish, squid and value-added seafood. Under the FTA, these tariffs are to be eliminated, offering Indian exporters a significant price advantage. The deal will bring the applicable duty down from 4.2%-7.5% to zero, ensuring parity with competing countries.
In 2024-25, India exported seafood worth $1.1 billion to the EU. Of this, Odisha shipped marine products worth Rs 9,429.5 crore ($1,125.6 million), with a total volume of 2,15,080 metric tonnes, according to data from Marine Products Export Development Authority (MPEDA).
Kamalesh Mishra, former president of the association’s Odisha chapter, said exporters had earlier supplied marine products to EU member nations, but shipments declined after EU imposed stringent hygiene norms and regulatory requirements nearly a decade ago.
“The European Commission introduced regulations mandating validated catch certificates for consignments of fish, shrimp, squid, cuttlefish and octopus. As these were compulsory for all sea-caught consignments, many exporters stopped shipping to EU countries. The FTA is a timely move that will significantly boost the sector,” Mishra said.
Subharakant Mohapatra, state coordinator of MPEDA, said exporters were facing a major economic losses due to US tariffs. “MPEDA is preparing strategies to help exporters diversify and expand shipments to EU markets following the signing of the FTA,” he said.
Responding to a question by MP Bibhu Prasad Tarai in the Lok Sabha on Aug 19 last year, Union commerce and industries minister Piyush Goyal said India exported marine products worth $2.68 billion to the US in 2024-25. “During the same period, exports to China stood at $1.21 billion, $408.45 million to Japan, $381.77 million to Vietnam and $381.77 million to Thailand,” he added.
Seafood export companies from the state shipped marine products worth Rs 22,722.6 crore ($2,714.9 million) during 2024-25, with a total volume of 3,46,868 MT, according to MPEDA data. Frozen shrimp accounted for the largest share in export quantity and value. The US alone absorbed nearly 30% of India’s seafood exports during the fiscal.
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