The fisheries subsidies deal agreed upon at the recently concluded World Trade Organization (WTO) meeting  is a huge success for India, Union Minister of Commerce and Industry Piyush Goyal said.

After marathon talks that looked like many delegations were doomed a day ago, the world's top trade ministers approved a historic package of deals on Friday, including the removal of fishing subsidies and the relaxing of vaccine-production quotas.

The agreements end a seven-year negotiating drought for the Geneva-based trade body and avoid a damaging impasse for an organisation that has struggled to regain its footing following four years of attacks under former President Donald Trump, a pandemic, strained supply chains, and Russia's war in Ukraine.

Countries began making trade-offs in an attempt to cram numerous measures into a single package. The fisheries agreement was the last to be signed.

Piyush Goyal, the Union Minister of Commerce, called it a "huge victory" for India in clearing restrictions for countries that engage in deep-sea fishing. "India has been a resounding success. There is no issue that India is concerned about following the WTO's 12th Ministerial Conference on June 17th "he said.

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