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At a time when the World Trade Organization’s (WTO’s) ongoing biennial meet is trying to build a consensus on subsidies that allegedly result in overcapacity and excessive fishing, Union Finance Minister Nirmala Sitharaman on Friday said India was fighting for the rights of small fishing folk.
“...We are fighting for the rights of small fishermen because they are livelihood-based fishermen and their rights in the coast cannot be affected by fishing vessels from other areas coming,” Sitharaman said at the Pandit Hriday Nath Kunzru Memorial Lecture 2024.
The ongoing WTO 13th ministerial conference (MC13) in Abu Dhabi, which was supposed to end on February 29, has been extended by a day due to the logjam over key issues.
A convergence on the proposed agreement on fisheries subsidies is awaited.
Indian officials are saying New Delhi will continue to argue that the subsidies given by the country are substantially less than those given by developed nations and will oppose any move to scrap payouts.
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India is of the opinion that developing countries should be allowed to continue fishing subsidies for people to ply their trade within exclusive economic zones (EEZs), up to 200 nautical miles, beyond the territorial waters.
The minister said India continued to fight at the WTO for a permanent solution to the issue of public stockholding for food security.
Looking back at the past decisions since the Bharatiya Janata Party took over in 2014, Sitharaman said India would have risked a possibility of minimum support prices (MSPs) being cut if the government had not intervened to get in the peace clause, which shields developing countries from being legally challenged at the WTO over the so-called subsidies.
