News

Trump India Tariffs: Indian seafood industry stares at ₹24,000 crore loss, Morgan Stanley saysCurrently, Indian shrimp exports to the US face an effective customs duty of 17.7%, including 5.7% in countervailing duties and 1.8% in anti-dumping duty. That would now rise to 25%.By Hormaz Fatakia   August 7, 2025, 8:36:07 AM IST (Published)2 Min ReadIndia's seafood industry is staring at a loss of nearly ₹24,000 crore after US President Donald Trump imposed additional tariffs on India on Wednesday, according to a note from Morgan Stanley.

Donald Trump announced the imposition of an additional 25% tariff on Indian exports, in addition to the 25% tariffs that were announced last week.

"This move puts India at a significant disadvantage compared to competitors like Ecuador, impacting exporters and potentially farmers. The industry, heavily reliant on the US market, is seeking government support and exploring alternative markets to mitigate the effects," the note said.

As of the March quarter last year, Avanti Feeds derived 77% of their overall revenue from the North American Market, down from 80% during the same quarter last year.

Apex Frozen Foods, in its March quarter investor presentation, disclosed that 53% of its overall revenue came from the United States.

India currently holds about 20% of the global shrimp market share, with production expected to remain flat at 1.2 million metric tonnes this fiscal.

Currently, Indian shrimp exports to the US face an effective customs duty of 17.7%, including 5.7% in countervailing duties and 1.8% in anti-dumping duty. That would now rise to 25%.

Shares of Avanti Feeds are down 9% in the last one month, while those of Apex Frozen Foods and Waterbase have declined 7% each during the same period.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsAvanti Feedsshare market todaytrump tariffs