The Parliamentary Standing Committee on Commerce held a meeting with key stakeholders, here on Tuesday, to review India–US trade relations, focusing on the impact of retaliatory tariffs imposed by the United States on India’s fisheries and marine products sector.
The meeting was held under the chairmanship of Dola Sen, chairperson of the Committee. Visakhapatnam MP Mathukumilli Sribharat, former Union Minister Renuka Chowdhury, and a delegation of 15 Members of Parliament participated in the deliberations.
Addressing the gathering, Mr. Sribharat urged government institutions and regulatory bodies to extend coordinated support to help the fisheries industry overcome the challenges arising from heavy dependence on the US market. He emphasised the need to protect the livelihoods of lakhs of fishermen, farmers, and workers associated with the marine exports sector.
In the backdrop of US retaliatory tariffs on Indian marine products, he advised industry representatives to diversify export destinations, explore alternative global markets, and modernise operations in line with international standards to remain competitive.
MPEDA Chairman D.V. Swamy gave a presentation on the impact of US tariffs on the marine products sector. He highlighted that with a reciprocal tariff base rate of 50%, combined with anti-dumping duty of 2.49% and countervailing duty of 5.77%, the total duty burden has risen to 58.26%, posing a serious threat to the global competitiveness of Indian shrimp exports.
