India Backs Equitable Fisheries Subsidy Agreement at WTO

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.