EU, US oppose India on ending sops that aid illegal fishing

The US and European Union (EU) have opposed the proposal as they give such subsidies to transport and water sports sector.

EU, US oppose India on ending sops that aid illegal fishing
New Delhi: India is proposing to introduce a new discipline to put an end to subsidies which lead to illegal, unregulated and uncontrolled fishing globally. It has suggested capping ‘non-specific’ fuel subsidies or those that are not targeted at a particular industry.

The US and European Union (EU) have opposed the proposal as they give such subsidies to transport and water sports sector. African, Arab and Latin American countries have supported it. Fuel subsidies comprise 60% of total fisheries subsidies.

“We want to change the categorisation of fisheries subsidies and bring non-specific ones in discipline,” said an official aware of the non-paper India has submitted, ahead of a formal proposal to the World Trade Organization (WTO).


“Almost 95% of the fuel subsidies are nonspecific in developed countries. If this big chunk is out, then it is developing countries’ subsidies that would be targeted.”

India’s proposal comes in the wake of the US and Australia suggesting member-specific caps on subsidies countries give to their fisherfolk.

As per another official, developed countries have opposed India’s proposed discipline saying they can’t segregate the fuel subsidies they give to their fisheries sector. “The proponents in developed countries want specific subsidies to get targeted but fuel subsidies are non-specific and are given to all industries there.
ADVERTISEMENT

It is convenient for them as this keeps their programmes out of the discipline,” the second official said, adding that sustainable fishing is the core of the negotiations.
Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › News › Economy › Foreign Trade › EU, US oppose India on ending sops that aid illegal fishing
Text Size:AAA
Success
This article has been saved

*

+