New Delhi, Aug. 7 -- India's 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.

The combined effect of these tariffs could lead to a loss of nearly Rs 24,000 crore, according to a report by Morgan Stanley.

The Indian seafood industry, particularly the shrimp export sector, is heavily dependent on the US market.

The sudden tariff hike puts Indian exporters at a disadvantage compared to global competitors like Ecuador, potentially affecting both exporters and farmers.

In response, the industry is urging the Indian government for support and exploring new markets to reduce its dependence on...