India Backs Equitable Fisheries Subsidy Agreement at WTO

India supports the WTO's draft decision on fisheries subsidies, emphasizing the need for equitable outcomes that safeguard both marine resources and livelihoods. The issue of overcapacity and overfishing stems from large subsidies by industrialized nations, not small-scale fishermen in developing countries. The WTO aims to negotiate provisions by its next ministerial conference.

India has thrown its weight behind the WTO's draft decision on a fisheries subsidies agreement, aimed at addressing the global crisis of overcapacity and overfishing. The announcement was made by Commerce and Industry Minister Piyush Goyal during the WTO's 14th Ministerial Conference in Cameroon.

Minister Goyal stressed that the issue stems from subsidies for industrial fleets, rather than the small-scale, traditional fishers of India, who follow sustainable practices. This support reflects India's longstanding commitment to marine conservation, as demonstrated by initiatives like the annual fishing ban.

The WTO decision seeks to engage members in further negotiations to reach comprehensive terms by its Fifteenth Ministerial Conference. These terms will focus on equitable outcomes, emphasizing that developing nations require special treatment to balance development with conservation needs.