According to Vietnam Customs, Vietnam’s seven-month seafood exports to India reached US$11.4 million, marking a sharp increase of 41.6% compared to the same period in 2024. Notably, key export products such as pangasius, frozen shrimp, tilapia, and squid experienced remarkable growth in both export volume and value.

Frozen pangasius remained the leading product, growing 18.1% in volume and 27.5% in value. Meanwhile, frozen shrimp, the second most important item, saw an extraordinary surge of 2,492.4% in volume and 813.9% in value.

A standout performer was frozen tilapia, which posted a staggering 3,900% increase in volume and nearly 4,600% in value compared to the same period last year. Tilapia is now considered a new potential product for Vietnam’s seafood industry, thanks to advantages in farming area, production volume, and processing capability.

Other products also posted notable increases, including frozen tuna, up nearly 278%, dried anchovies, up about 119%, and frozen squid, up 1,400%.

Data from the International Trade Centre (ITC) highlights that India imported 27,900 tonnes of seafood worth nearly US$104 million throughout the first four months of the year, representing an annual increase of 23.1% in volume and 36.4% in value.

Among the supplying countries, Vietnam ranked second in volume, accounting for 13.22%, and fourth in value, representing 5.84% of India’s total seafood import value. This marks a significant milestone, underscoring the growing presence of Vietnamese seafood in this high-potential South Asian market.

In the context of ongoing difficulties in traditional markets like the United States, European Union, and Japan due to inflation and technical trade barriers, expanding into India is seen as a strategic move to diversify markets, reduce dependence on a few partners, and increase export value.

However, the Indian market also imposes strict requirements related to food safety, antibiotic residue limits, and approved export processing facilities, posing major challenges for Vietnamese exporters who must strictly comply to maintain momentum.

In addition, competition in the Indian market is fierce, with suppliers from South America and Southeast Asia also identifying India as a key export destination.

According to information provided by the Vietnam Association of Seafood Exporters and Producers (VASEP), total Vietnamese seafood export turnover reached approximately US$6.2 billion in the first seven months of the year, up 17% compared to the same period last year.

VinFast partners with State Bank of India to provide customer financing

VinFast announced on August 23 that it has signed a memorandum of understanding (MoU) with the State Bank of India (SBI), the country’s largest bank, to offer vehicle financing packages for individual customers through its exclusive dealer network.