New Delhi, Aug. 3 -- Indian shrimp exporters will face a new, unprecedented challenge in US markets after the imposition of reciprocal tariffs on India, said Rahul Guha, Senior Director at Crisil Ratings.

"Indian shrimp exporters face an unprecedented new challenge in the US market, which contributes close to 48 per cent of their exports," Guha added.

He noted that with the proposed US tariff hike, additional financial penalties, the 5.77 per cent countervailing duty imposed last year, and existing anti-dumping duties, India is set to become one of the most heavily taxed major shrimp exporters in the US market.

"In contrast, Ecuador, the largest shrimp exporter globally, faces just a 10 per cent tariff and countervailing duties of 3-4 ...