HomeNewsBusinessIrrational subsidies, overfishing by many countries hurting Indian fishermen: Piyush Goyal

Irrational subsidies, overfishing by many countries hurting Indian fishermen: Piyush Goyal

The minister has also stated that the proposed agreement has to provide for current and future needs as the per capita fisheries subsidy given by most developing countries is minuscule compared to advanced fishing nations.

July 15, 2021 / 18:14 IST
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India on Thursday said that it is "very" keen to finalise an agreement on fisheries subsidies because irrational benefits and overfishing by many countries are hurting domestic fishermen and their livelihood.

It was stated by Commerce and Industry Minister Piyush Goyal during an online ministerial meeting of the WTO (World Trade Organisation) on the crucial fisheries subsidy negotiations.

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Goyal expressed disappointment that the membership is still short of finding the right balance and fairness in the agreement.

"Delivering a strong statement on behalf of India, Goyal stated that India is very keen to finalize the agreement because irrational subsidies and overfishing by many countries is hurting Indian fishermen and their livelihood," an official statement said.