India Signs WTO Fish Subsidies Pact; Trade Review Set for July

India signed the WTO agreement on fisheries subsidies, a pact that bans subsidies for illegal, unreported and unregulated fishing and for overfished stocks. The deal exempts aquaculture and inland fisheries, an exclusion New Delhi pushed for to protect small-scale traditional fishers.

The signing comes ahead of India's trade policy review, scheduled for July 21 and 23 in Geneva. The review will examine India's trade and economic performance since the last review, covering post-pandemic recovery and growth. WTO members have submitted roughly 900 written questions and statements in advance of the meeting.

The fisheries pact, formally the Agreement on Fisheries Subsidies, was adopted at the WTO's 12th Ministerial Conference in June 2022. India's ratification brings the number of WTO members that have accepted the deal to 70, edging closer to the two-thirds threshold needed for entry into force.