Economy, Banking and Finance · 22 July 2026
India joins WTO Agreement on Fisheries Subsidies (AFS)
Exam-focused facts from the 22 July 2026 current affairs briefing.
Key facts
- India deposited its Instrument of Acceptance of the WTO Agreement on Fisheries Subsidies (AFS) on 20 July 2026, becoming a Party to the Agreement.
- The agreement prohibits subsidies linked to illegal, unreported and unregulated (IUU) fishing and fishing of overfished stocks.
- The pact protects the livelihoods of traditional and small-scale fishers and promotes sustainable fisheries.
- Aquaculture and inland fisheries remain outside the scope of the agreement, ensuring continued support for India's shrimp export sector.
- The agreement entered into force on 15 September 2025 after two-thirds of WTO members deposited their instruments of acceptance.
- The agreement was adopted by consensus at the 12th WTO Ministerial Conference in Geneva in June 2022.
- The agreement is the first multilateral WTO agreement with an environmental sustainability objective.