Department of Commerce Organizes Chintan Shivir on Seafood Sector Opportunities under India-EFTA TEPA
The Department of Commerce, Government of India, organized a high-level brainstorming session titled "Opportunities for the Seafood Sector under the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA)" on 3 July 2026 at the Chennai Trade Centre, Chennai. The event was held on the sidelines of Seafood Expo Bharat 2026.
TEPA represents India's first trade agreement with EFTA member states comprising Iceland, Liechtenstein, Norway, and Switzerland, which collectively account for a combined GDP of approximately USD 1.79 trillion. This is also India's first operational trade arrangement with a European economic bloc, complementing ongoing trade engagements with the European Union and United Kingdom. The agreement carries ambitious targets of facilitating USD 100 billion in investments into India and supporting the creation of one million direct jobs, while opening avenues for technology transfer, joint ventures, and collaboration with niche technology firms from EFTA countries.
Significant Tariff Concessions for Seafood Exports
TEPA offers substantial strategic advantages for Indian seafood exporters through significant tariff concessions. Iceland has eliminated its 55% import duty on feed, including fish feed. Switzerland reduced the import duty on fats and oils of fish (other than liver oil) from 18.05% to zero. Norway eliminated its 13.16% import duty on feed, including fish and shrimp feed, reducing the tariff to zero and enhancing market access for Indian exporters, particularly benefiting coastal states such as Tamil Nadu.
Stakeholder Participation and Discussions
The Chintan Shivir was attended by Joint Secretary of the Department of Commerce, Shri Mohit Yadav, along with representatives from Invest India, the Directorate General of Foreign Trade (DGFT) Regional Office Chennai, the Export Inspection Council (EIC), and the Federation of Indian Export Organisations (FIEO). Leading exporters from the seafood sector and businesses targeting EFTA markets also participated.
Shri Mohit Yadav provided a comprehensive overview of the India-EFTA TEPA and highlighted wide-ranging trade and investment opportunities. Invest India delivered a detailed presentation on emerging investment opportunities across the Indian seafood value chain, followed by DGFT outlining various export promotion and facilitation schemes aimed at enhancing ease of doing business and improving exporter competitiveness. EIC and FIEO representatives shared insights on regulatory requirements, quality standards, and strategies for effectively leveraging TEPA benefits.
Interactive Session and Outcomes
A dedicated interactive open-house session allowed seafood exporters to engage directly with government officials and policymakers, focusing on market access, compliance with international regulatory requirements, and strategies for strengthening India's seafood exports to EFTA countries. The event concluded with a shared commitment by government and industry stakeholders to work collaboratively toward maximizing TEPA benefits, leveraging tariff concessions, and expanding India's seafood exports in EFTA markets.