Scottish salmon exports to India could deliver up to £130 million (US$180 million) over the next decade in a major boost to the economy, new figures reveal.
Trade organisation Salmon Scotland said producers are gearing up for a new drive into the market after last year’s UK-India trade deal promised to remove the tariffs that have held exports back.
Scottish salmon currently faces a 33 per cent import duty. However, that barrier is expected to be removed this year when the agreement comes into force.
Salmon Scotland said this then means exports could rise to more than £30 million (US$40 million) a year by the end of the decade under high-growth projections, creating inward investment in Scotland.
New analysis by Salmon Scotland suggests India could become one of Scotland’s top overseas markets for salmon by the mid-2030s, as demand for premium seafood rises in major cities such as Delhi and Mumbai.
The India opportunity forms part of a wider push to expand Scottish salmon exports in fast-growing markets across Asia and the Middle East amid progress on a series of key free trade deals.
"The UK-India trade deal taking effect later this year presents a major opportunity for Scottish salmon, opening up another key market for exporters while boosting the economy," said Scotland Office Minister Kirsty McNeill. "These figures highlight the sector's exciting growth potential as a result of the agreement secured by the UK Government."
"Scottish salmon is already the UK’s top food export, with international sales worth £828 million (US$1.12 billion) last year and strong demand across Asia," said Tavish Scott, Chief Executive of Salmon Scotland.
"India now represents the next major opportunity. With tariffs set to be removed, exports to India could deliver up to £130 million over the next decade, supporting jobs and investment in coastal communities across Scotland."
