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Tariffs Shift India's Shrimp Trade to Asia & Europe
24 Nov
Summary
- US imports of Indian marine products declined significantly due to tariffs.
- China and Vietnam saw massive increases in Indian seafood shipments.
- Diversification into new markets shows India's export resilience.
India's marine product exports experienced a significant pivot as U.S. tariffs took effect. While exports to the United States saw a notable decline of 7.43%, this was more than offset by a substantial increase in shipments to other global markets. The official data reveals a strategic redirection of trade flows.
Key destinations like China and Vietnam demonstrated remarkable growth, with exports rising by 24.54% and an impressive 123.63% respectively in the seven-month period. Significant gains were also recorded in shipments to Belgium, Japan, Russia, Canada, and the UK, indicating a broadening export base.
This surge in exports to non-traditional markets is attributed to buyers seeking consistent quality and competitive pricing from Indian suppliers. Overall, India's flagship marine segment, shrimp and prawn, recorded a healthy 17.43% rise, showcasing the sector's adaptability and resilience in the face of evolving trade dynamics.
