The weak property rights regime governing the world's marine resources as well as the wide-spread large scale subsidization of the fisheries industry has led to serious depletion of global fish stocks. Against this backdrop, taking cognizance of developing country goals and concerns, the Fourth Ministerial Conference of the WTO held in Doha in 2001 mandated that negotiations over fisheries subsidies, formerly subject to the disciplines of the Agreement on Subsidies and Countervailing Measures, be completed by 2005. In view of this development, a country like India with its vast and versatile...