India reduces tariffs on salmon from Chile

India has reduced its tariffs on salmon imported from Chile by 15 percent, just as Chilean exporters have targeted the country for a promotional campaign.

In a 15 July announcement, Chile’s National Fisheries and Aquaculture Service (Sernapesca) and the Food Safety and Standards Authority of India (FSSAI) confirmed Chilean frozen and chilled salmon and crustacean products had been officially approved for tariff reductions under a trade agreement signed between the two countries in 2006.

"With this change, Chilean exports will have access to effective tariff advantages of close to 15 percent for Chilean salmon, which generates incentives and opens opportunities to promote an activity that is very relevant for the development of the southern macro-zone of Chile and for the country,” Chilean Salmon Council Executive Director Loreto Seguel said.

Sernapesca National Director Soledad Tapia Almonacid said India represented a unique growth opportunity for Chilean seafood exporters.

“India is one of the most densely populated countries in the world, a status that positions it as a strategic buyer for our country's exports, such as fishing and aquaculture products,” Almonacid said. “The culmination of these types of processes, which are generally long and complex, allows us to ratify the professionalism and dedication of our professionals and, confirm the confidence that the different markets of the world recognize in Sernapesca as a guarantor of the safety and quality conditions of the food originating from national fishing and aquaculture activities.”

The tariff discount has entered into immediate effect. Prior to the agreement, Chilean salmon enjoyed a 5 percent tariff discount in India.

Seguel called the change a milestone that will contribute to strengthening overall trade relations between Chile and India, which was valued at USD 2.77 billion (EUR 2.46 billion) in 2022. 

“India is one of the most densely populated countries in the world with a growing middle class that is estimated at around 264 million inhabitants out of a total population close to 1,408 million in 2022,” Seguel said. “Therefore, it represents a strategic buyer with significant potential for exports.”

Photo courtesy of Chilean Salmon Council