Possible impact of WTO on Indian fisheries

Abstract

The founding of the World Trade Organization (WTO) in January 1995 marked the culmination of a series of complex, arduous and long drawn out negotiations under the Eighth Round of General Agreement on Tariffs and Trade (GATT). It also marked the beginning of a distortion free multilateral trade among the economies of the World. The core principle of the WTO is institutionalization of global framework for deregulated competitions. India, being a founder member of the GATT, is a signatory to the commitments made during the negotiations. The provisions under the various agreements are expected to have an impact on the different sectors and this paper highlights the possible impacts of the WTO on the Fisheries Sector.