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Piyush Goyal defends low fisheries subsidies, seeks fair rules at WTO
India is pushing for fair global fishing subsidy rules. Minister Piyush Goyal stated India's subsidies are very low. He urged the WTO to consider developing nations' needs. India wants a 25-year transition period for these countries. The aim is to prevent overfishing and protect vulnerable communities. These discussions are happening at the WTO Ministerial Conference.
New Delhi: India has said it is not a heavily industrialised fishing nation and doesn't have large-scale, distant-water fleets or heavily mechanised operations which lead to overcapacity and overfishing.
Noting that India's fisheries subsidies are among the lowest in the world, barely about $15 per fisher family annually compared to "tens of thousands elsewhere", commerce and industry minister Piyush Goyal made a strong case at the ongoing 14th Ministerial Conference of the WTO to ensure that emerging decisions remain fair and do not disproportionately impact vulnerable communities.
Fisheries subsidies was one of the key agenda items.
India emphasised that Phase II negotiations must reflect core principles of equity, including special and differential treatment (S&DT) for developing countries and least developed countries, as well as the principles of common but differentiated responsibilities and respective capabilities (CBDR-RC) and the polluter pays principle.
"Consistent with these principles, India highlighted key priorities like a 25-year transition period for developing countries," the government said in a statement Sunday.
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Source: EconomicTimes
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