New Delhi [India], July 20 (ANI): India has become the 123rd member of the World Trade Organization (WTO) to join the Agreement on Fisheries Subsidies after depositing its Instrument of Acceptance, a move the government said will strengthen the country's position as a responsible seafood exporter while protecting the interests of traditional and small-scale fishers.

According to a Ministry of Commerce and Industry press release, Commerce Secretary Rajesh Agarwal formally handed over India's Instrument of Acceptance to the WTO Director-General on July 20.

The ministry said India's decision 'reaffirms the country's commitment to sustainable fisheries management while preserving marine resources as a source of food security, livelihoods and employment for coastal communities.'

The Agreement on Fisheries Subsidies, adopted at the WTO's 12th Ministerial Conference in Geneva in 2022, is the first multilateral WTO agreement focused on environmental sustainability. It prohibits subsidies linked to illegal fishing activities and overfishing of depleted fish stocks.

The government said the agreement 'protects the livelihoods of traditional and small-scale fishers by promoting sustainable fisheries' while creating 'a more equitable global fisheries regime by disciplining harmful subsidies that support large, heavily subsidised industrial fishing fleets.'

'The Agreement further enhances India's credibility as a responsible seafood exporter, thereby supporting improved access to premium markets that increasingly value sustainability and traceability,' ministry added.

At the same time, the government noted that India's aquaculture-based shrimp exports will remain unaffected because 'aquaculture and inland fisheries remain outside the scope of this Agreement,' ensuring the continued competitiveness of the country's seafood export sector.

The ministry said India's existing fisheries management framework, including the Sustainable Harnessing of Fisheries in the Exclusive Economic Zone (EEZ) Rules, 2025, and capacity-building initiatives under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), provides a strong foundation for implementing the agreement.

It added that by joining the agreement, India 'reinforces its unwavering commitment to the rules-based trading system with the WTO at its core.' (ANI)