Indian Shrimp Exporters Face Major Setback in US Market

Indian Shrimp Exporters Face Major Setback in US Market

Indian shrimp exporters are bracing for a sharp hit as the US plans to impose new tariffs, adding to existing duties. The US accounts for nearly 48% of India’s shrimp exports.

Crisil Ratings’ Senior Director Rahul Guha said India could soon be one of the most heavily taxed shrimp suppliers to the US, facing anti-dumping duties, a 5.77% countervailing duty, and fresh tariffs. In comparison, Ecuador faces much lower duties.

As a result, India’s shrimp export volume may drop by 7–9% this fiscal, and exporters’ profit margins could shrink by 50–100 basis points.

Despite record seafood exports in FY24 (17.8 lakh MT worth ?60,524 crore), industry credit profiles are likely to weaken further.

The government is trying to support the sector through harbour upgrades under PMMSY and Sagarmala, with ?651 crore allocated near major ports.

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