After the imposition of 50% tariffs by the US, India’s exports of marine products to the country, which has traditionally been the single-largest export destination for India, have decreased, with exporters even projecting a 75% year-on-year fall in shipments in September.
At the moment, data of country-specific exports for September are yet to be available officially, but the fall in marine products exports to the US, which had 35% share, is expected to pull down overall shipment in FY26, said exporters, reported Financial Express.
“Shrimp exports are expected to fall in the second half of the current fiscal, after the US imposed effective duties of close to 60% on India’s shipment from August 27,” said Ajay Srivastava, co-founder, Global Trade Research Initiative (GTRI).
Ever since the imposition of the tariffs by the US, Indian exporters have been struggling to deal with the losses sustained as a result of the move. While external affairs minister S. Jaishankar met US secretary of state Marco Rubio in Kuala Lumpur on October 27 on the sidelines of the Asean and East Asia Summit, India and the US still don’t have a bilateral trade agreement.
According to GTRI, exports of fish, crustaceans etc. rose to $2.7 billion during April-August 2025-26, an increase of over 15% on year. But shipment to the US rose by only 2.7% to $859 million, with the slowdown in exports to the country being due to tariff.
India’s shrimp export volumes are expected to decline by 15%-18% in the present fiscal, owing to the tariffs imposed by the US, rating firm Crisil Ratings has said. The US accounted for 32.4% of shrimp exports in the last financial year, according to a GTRI brief. From paying no tariff at all, Indian shrimp in the US now have to pay hefty tariffs.