What: India has had big gains at the 12th Ministerial Council of the World Trade Organisation (WTO). The Ministerial Council is the top decision-making body of the WTO. For the past seven years, deadlock had been existing between the developed and developing world
Gains: The major gain for India is the fisheries subsidies. Countries like China have accused India of over-fishing and unsustainable amounts of fishing beyond the renewal capacity of the oceans.
India and other developing countries were able to win some concessions in this agreement. They successfully lobbied to remove a section of the proposal that would threaten some subsidies which would assist small-scale artisanal fishing. Thus new agreement aims at securing both environment and marginal livelihoods
Further countries have now been allowed to restrict the export of foodgrains in order to address challenges of food security at home. Further, the Ministerial Council has agreed to extend the moratorium on the customs duties on the import of digital goods and services.