A.P. exporters seek Centre’s intervention as U.S. tariffs hit seafood industry hard

The Seafood Exporters Association of India (SEAI) has appealed to the Central government to extend urgent relief measures to protect the Indian seafood export industry, saying that it is reeling under the impact of newly imposed tariffs by the United States.

A delegation led by Union Minister of State for Steel and Heavy Industries Bhupathiraju Srinivasa Varma, along with SEAI president Pawan Kumar and others, met Union Finance Minister Nirmala Sitharaman in her Parliament office on Tuesday and submitted a memorandum.

The delegation highlighted that with the recent 25% tariff imposed by the U.S.A., along with countervailing duty (CVD) and anti-dumping duties, Indian exporters are now burdened with nearly 35% in levies, drastically reducing the competitiveness. 

They said that exports to the U.S.A.—which account for nearly 25% of India’s $8 billion seafood exports in 2023–24 fiscal year—are expected to decline sharply, severely impacting the livelihoods of 2.8 crore fishermen, aquaculture farmers, processing workers, packaging staff, and transporters who depend on the sector.

To help overcome the crisis, the SEAI proposed a set of relief measures, including soft loans up to 30% of working capital at concessional interest rates (below 5%); extension of export credit facilities for 240 days for all seafood exporters; financial assistance at 8% of the FOB value for exports to the U.S.A.; additional support at 2% of the FOB value for exports to other countries; special financial packages for small and medium aqua farmers to prevent distress.

“If these measures are implemented, exporters will be able to sustain themselves in global markets and the industry, along with the 28 million people dependent on it, can be safeguarded,” said Mr. Pawan Kumar.

Ms. Nirmala Sitharaman assured the delegation that the issues would be examined and appropriate measures would be considered.

CEO Dr. Raghavan, National Committee member Irrinki Ganga Ram, Poojitha, and MPs Sana Satish Babu and Beeda Mastan Rao were also present.