India and ASEAN signed a Free Trade Agreement (FTA) in trade in goods which came to effect from 1st January 2010. There were apprehensions on the likely impact of this RTA on some sensitive sectors of India such as agriculture, fisheries and plantation crop as large number of people depend on these sectors for their livelihood. India is a large consumer of marine products and export also export part of the catch to international markets (1.7 percent in total world export in 2007). Some of the ASEAN partners of India namely Thailand (5.82%), Vietnam (3.86) and Indonesia (2.14%) have larger presence in international fisheries trade and there is a possibility that they can export these products in to India in the post FTA period. In this context the paper looked in to the various provisions of India ASEAN FTA on fisheries sector and calculated trade complementarity and similarity using different trade indices. The paper found that India has taken adequate precaution to protect its marine sector from large scale dumping. The apprehension that India-ASEAN FTA will lead to substantial import of marine products in to India is unfounded.