Bhimavaram: The Seafood Exporters Association of India (SEAI) has appealed to the Central government for financial assistance, stating that the industry is facing a severe crisis due to a recent 25% tariff imposed by the United States.

A delegation led by Union Minister of State for Steel and Heavy Industries Bhupatiraju Srinivasa Varma met Union Finance Minister Nirmala Sitharaman at Parliament on Tuesday to submit a memorandum. The delegation included SEAI President Pavan Kumar, CEO Dr Raghavan, National Committee members I Gangaram and Poojitha, along with MPs Sana Satish Babu and Beeda Masthan Rao.

According to Pavan Kumar, the new 25% tariff, combined with existing countervailing duty (CVD) and anti-dumping duties, has burdened Indian exporters with an additional cost of nearly 35%. This has led to a drastic decline in exports to the US and threatens the livelihoods of an estimated 2.8 crore people, including fishermen, farmers, and processing unit workers. India is the world’s second-largest seafood exporter, with exports reaching $8 billion in the fiscal year 2023-24.

The US market alone accounts for 25% of this total. The SEAI expressed concern that the new tariffs would severely impact exports to the US, affecting not only exporters but also millions of aqua farmers, processing and packaging workers, and transport personnel.

It is estimated that around 25 lakh people nationwide will be directly or indirectly affected by this crisis.

To overcome the crisis, the SEAI has submitted several proposals to the government. They urged the government to provide soft loans at a low interest rate (below 5%) to exporters, similar to the relief provided during the COVID-19 pandemic, extend export-related credit facilities for all seafood exporters for up to 240 days, offer 8% financial assistance on the FOB (Free On Board) value of exports to the US and an additional 2% assistance for exports to other countries, and announce special financial aid for small and medium-sized aqua farmers to protect them from losses.

The SEAI is hopeful that implementing these measures will help the industry stabilise and protect the livelihoods of the 2.8 crore people dependent on it. Pavan Kumar stated that the finance minister listened attentively to their concerns and assured them that the government would review the situation and take appropriate action.

Pavan Kumar stated that they also met Andhra Pradesh Minister for Human Resources Nara Lokesh, who was currently in Delhi, and submitted a memorandum requesting measures to protect the industry. The meeting, which took place under the leadership of Union Minister Bhupatiraju Srinivas Varma, was also attended by Union Minister for Civil Aviation K Rammohan Naidu and MPs Lavu Srikrishna Devarayalu and Ganti Harish.

Since Andhra Pradesh accounts for the largest share of aqua product exports, the representatives appealed to both the central and state governments to take immediate, coordinated action to save the sector. Minister Nara Lokesh assured them that he would bring the issue to the attention of Chief Minister Chandrababu Naidu and work towards a suitable solution.