India Enhances Seafood Exports with New Trade Agreement
The Department of Commerce, Government of India, hosted a significant brainstorming session on July 3, 2026, at the Chennai Trade Centre. This Chintan Shivir, which took place on the sidelines of Seafood Expo Bharat 2026, focused on the “Opportunities for the Seafood Sector under the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA).” This initiative is poised to boost India’s seafood export potential to EFTA member states.
TEPA marks a milestone as India’s inaugural trade agreement with the EFTA, which includes Iceland, Liechtenstein, Norway, and Switzerland. These nations collectively boast a robust GDP of approximately USD 1.79 trillion and play a vital role in global merchandise and services trade. This agreement not only enhances India’s trade relations with European nations but also aims to attract USD 100 billion in investments to India and generate a million direct jobs. Moreover, it opens doors for technology transfers and partnerships with innovative EFTA firms, significantly benefiting coastal states like Tamil Nadu.
Key benefits for Indian seafood exporters under TEPA include notable tariff reductions. For example, Iceland has entirely abolished its 55% import duty on fish feed, while Switzerland has eradicated import duties on fish fats and oils, lowering the rate from 18.05% to zero. Norway has followed suit by eliminating its 13.16% import duty on fish and shrimp feed. These concessions provide enhanced market access for Indian exporters.
The Chintan Shivir featured insights from Joint Secretary of the Department of Commerce, Shri Mohit Yadav, along with representation from Invest India, the Directorate General of Foreign Trade (DGFT) Regional Office in Chennai, the Export Inspection Council (EIC), and the Federation of Indian Export Organisations (FIEO). Leading exporters and companies targeting EFTA markets were also part of the discussions.
Shri Mohit Yadav elaborated on the expansive trade and investment prospects available under the India-EFTA TEPA. An Invest India representative shared valuable information regarding emerging investment opportunities throughout the seafood value chain. Following this, a DGFT representative outlined various schemes aimed at facilitating business and improving the competitiveness of Indian exporters.
An engaging interactive open-house session was a highlight of the event, allowing seafood exporters to communicate directly with government officials and policymakers. The discussions covered crucial topics such as market access, compliance with international regulations, and strategies for enhancing India’s seafood exports to EFTA countries.
The Chintan Shivir concluded with a collective commitment from both government and industry representatives. They vowed to collaborate in maximizing the benefits of TEPA, take full advantage of tariff concessions, and expand India’s seafood exports in EFTA markets.
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