India's shrimp exports to US seen badly hit due to high reciprocal tariffs

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India's shrimp exports to US seen badly hit due to high reciprocal tariffs - Business Standard

Quick Summary:

India is estimated to have exported seafood worth around Rs 60,000 crore globally in FY24, of which shrimp alone accounted for nearly Rs 50,000 crore.

According to market participants, panic has set in within the Indian shrimp sector following the imposition of the tariff.

However, the high reciprocal tariff imposed by the US will also affect India’s competitors in the global shrimp market, including Ecuador (10 per cent), Vietnam (46 per cent) and Indonesia (32 per cent).