India’s seafood export sector could be staring at a staggering loss of INR24,000 crore following the latest tariff announcement by former U.S. President Donald Trump, according to a report by Morgan Stanley.
At present, Indian shrimp exports to the U.S. attract an effective customs duty of 17.7%, comprising 5.7% countervailing duties and 1.8% anti-dumping duties. With the new proposed tariffs, this rate would jump to 25%, sharply increasing the cost burden on exporters.
The hike threatens to dent one of India’s key export industries, which has heavily relied on U.S. demand for shrimp and other seafood products. The report warns that the increased tariffs could significantly reduce competitiveness, leading to potential order cancellations, margin pressure, and job losses across the supply chain.
Industry stakeholders are urging the Indian government to initiate diplomatic talks to mitigate the impact and safeguard market access.
