Overview
On 3 July 2026, the Department of Commerce organised a Chintan Shivir on the opportunities for the seafood sector under the TEPA. The event was held at the Chennai Trade Centre alongside the Seafood Expo Bharat 2026 and brought together senior officials, exporters, and industry bodies.
Key Developments
- Presentation of the TEPA framework and its investment target of USD 100 billion and one million direct jobs.
- Announcement of major tariff concessions for Indian seafood: Iceland removes 55 % duty on feed, Norway eliminates 13.16 % duty on feed, and Switzerland reduces duty on fish fats and oils to zero.
- Invest India highlighted investment prospects across the seafood value chain, from aquaculture to processing and logistics.
- DGFT outlined export promotion schemes that simplify procedures and improve competitiveness for Indian exporters.
- Regulatory guidance was provided by the Export Inspection Council (EIC) and the Federation of Indian Export Organisations (FIEO).
Important Facts
The EFTA members together have a GDP of about USD 1.79 trillion. The TEPA is India’s first operational trade pact with a European bloc, complementing existing agreements with the EU and the UK.
Specific tariff benefits include:
- Iceland: 55