Following the signing of a comprehensive trade agreement with Britain, Indian seafood exporters are ready to compete with Vietnam and Singapore on similar terms in the UK market.

This agreement eliminates the damage caused by the previous fee. The Ministry of Fisheries gave this information. The agreement brings Indian maritime products equal to the competitors of Vietnam and Singapore, already benefiting from the UK-Vietnam Free Trade Agreement (UK-VFTA) and the UK-Singapore Free Trade Agreement (UK-SFTA) respectively.

According to the ministry, Indian exporters earlier faced fee obstacles, causing them competitively damage to high -value products, especially including shrimp fish and value -added sea food items.

The ministry further said that ending these tariffs will help Indian companies take advantage of the country’s adequate production capacity, skilled workforce and advanced trasability system so that they can gain a large share in the UK sea food market.

This trade agreement also offers Indian exporters an opportunity to reduce their dependence on traditional markets like the US and China by bringing diversity in the UK market.

The ministry said in a statement that with this trade agreement, the industry estimates that sea exports to Britain will increase by 70 percent in the coming years. Industry analysts said the agreement was reached at a suitable time when global supply chains are being restructured and the countries are considering diversifying their import sources.

In the year 2024-25, India’s total seafood exports reached Rs 60,523 crore, which is equivalent to 17.8 lakh tonnes. However, India accounts for just 2.25 percent of the UK’s dollar food import market in $ 5.4 billion dollars.