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India Deposits Instrument of Acceptance for WTO Agreement on Fisheries Subsidies
India deposits its Instrument of Acceptance for the WTO Agreement on Fisheries Subsidies (AFS), becoming the 123rd WTO member to join. The Agreement is relevant now as it regulates fisheries subsidies with an explicit environmental sustainability objective and sets prohibitions linked to harmful fishing practices.
WTO Agreement on Fisheries Subsidies (AFS):
| Dimension | Key Details |
|---|---|
| Objective | Promotes conservation and sustainable use of marine resources, prevents overexploitation, and disciplines harmful subsidies supporting large industrial fleets. |
| Scope | Applies to marine wild capture fishing and related activities at sea. |
| Exclusions | Aquaculture and inland fisheries remain outside its ambit. |
| Prohibitions | Prohibits support linked to Illegal, Unreported, and Unregulated (IUU) fishing and overfished stocks. |
| Distinct feature | Marks the first multilateral WTO agreement with an explicit environmental sustainability objective. |
| India-specific points mentioned | Safeguards livelihoods of traditional and small-scale fishing communities; enhances India’s credibility as a responsible seafood exporter, improving access to premium markets valuing sustainability and traceability; India’s aquaculture-based shrimp exports remain outside scope, ensuring resilience and competitiveness. |