ENA Global 2025-08-07 15:11:38 <p><span style="font-size:14px"><strong>New Delhi, Aug 7 (KNN)</strong> Indias seafood industry is bracing for a major setback after US President Donald Trump imposed an additional 25 per cent tariff on Indian exports, adding to the 25 per cent tariffs already announced earlier.</span></p> <p><span style="font-size:14px">The combined effect of these tariffs could lead to a loss of nearly Rs 24,000 crore, according to a report by Morgan Stanley.</span></p> <p><span style="font-size:14px">The Indian seafood industry, particularly the shrimp export sector, is heavily dependent on the US market.</span></p> <p><span style="font-size:14px">The sudden tariff hike puts Indian exporters at a disadvantage compared to global competitors like Ecuador, potentially affecting both exporters and farmers.</span></p> <p><span style="font-size:14px">In response, the industry is urging the Indian government for support and exploring new markets to reduce its dependence on the US.</span></p> <p><span style="font-size:14px">As per the report, Avanti Feeds, a major player in the sector, generated 77 per cent of its revenue from North America in the March quarter this year, slightly down from 80 per cent a year ago.</span></p> <p><span style="font-size:14px">Similarly, Apex Frozen Foods reported that 53 per cent of its revenue came from the US market.</span></p> <p><span style="font-size:14px">India currently contributes around 20 per cent of the global shrimp supply. However, production is expected to remain steady at 1.2 million metric tonnes this fiscal year.</span></p> <p><span style="font-size:14px">Indian shrimp exports to the US already attract a 17.7 per cent effective customs duty, which includes 5.7 per cent in countervailing duties and 1.8 per cent in anti-dumping duties. The latest tariff hike will now push this up to 25 per cent, raising concerns about reduced competitiveness.</span></p> <p><span style="font-size:14px">The financial impact is already visible in the stock market. Shares of Avanti Feeds have fallen 9 per cent in the last month, while those of Apex Frozen Foods and Waterbase have dropped by 7 per cent each.</span></p> <p><span style="font-size:14px">Industry stakeholders are now watching for policy responses to help offset the potential damage.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 43102 https://knnindia.co.in/news/newsdetails/global/indias-seafood-sector-stares-at-rs-24000-crore-loss-after-us-tariff-hike 2025-08-07 15:11:38 knnindia.co.in