New Delhi, July 31 -- Shares of Indian seafood exporters declined sharply on Thursday following the announcement of new tariffs by US President Donald Trump. Stocks such as Avanti Feeds, Apex Frozen Foods, Zeal Aqua, and Waterbase fell over 6% after the US imposed a 25% tariff on Indian exports.

Avanti Feeds share price slipped as much as 6.62%, while Apex Frozen Foods declined 6.48%. Zeal Aqua shares fell 4.05%, and Waterbase was down 4.45% on the BSE.

President Trump stated that the 25% tariff on Indian goods will come into effect from August 1. He also announced an additional "penalty" in response to India's continued defense and energy ties with Russia.

Several Indian sectors with significant exposure to the US market are expected ...