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 fisheries resources has to take stock of the state of its fisheries sector, and develop a strategic response to the global debate on fisheries subsidies. This book aims to initiate that process. It begins by providing an overview of the current state of subsidization of the fisheries sector, both domestic and international, under various alternate definitions of fisheries subsidies. It then focuses on the domestic scenario, highlighting the Indian experience with fisheries subsidies and property rights regimes across both inland and marine sectors via the case method, and investigates the necessity and sufficiency of subsidies vis- -vis an appropriate property rights framework in developing the domestic fisheries sector and resource base in a sustainable manner. Attention is then turned to the international scenario, with a review of selected international case studies which can inform domestic subsidy and property rights issues. This is followed by an analysis of the country submissions of the various major fishing nations in order to identify India's natural allies and competitors in international negotiations. The concluding chapter brings the pieces together. It first outlines a program of reforms to rectify the deficiencies in the existing domestic property rights and fisheries subsidy regimes, on the basis of intensive interactions with all sectoral stakeholders. Subsequently, it suggests negotiating strategies for India in forthcoming WTO meetings. An epilogue sums up recent developments and issues.