Why is it in the News?

While India 'gave away' rights to Katchatheevu, in a subsequent pact, it secured sovereign rights in Wadge Bank near Kanyakumari.

What is Wadge Bank?

• Wadge Bank is a 10,000 square kilometer submarine plateau, of the sea south of Kanyakumari that is rich in biodiversity and considered India’s richest fishery resource.
• Wadge Bank, located near Cape Comorin, is home to more than 60 species of ornamental fish and other oceanic animals.
• It is a productive coastal area where three seas meet and tides create a rich fishing ground from May to October.
• Moreover, it is an invaluable treasure that indigenous people and communities depend on for food and resources, and is important to their culture.

How did India get control of the Wadge Bank?

• Wadge Bank came to India as part of the second of the two accords signed with Sri Lanka in the 1970s.
• Following the 1974 agreement under which Prime Minister Indira Gandhi ‘gave away’ Katchatheevu island to Sri Lanka, New Delhi, and Colombo signed another pact in 1976 under which the former bought Wadge Bank.
  • On March 23, 1976, India and Sri Lanka signed the agreement on the maritime boundary in the Gulf of Mannar and the Bay of Bengal as part of which it was agreed that the Wadge Bank “lies within the exclusive economic zone of India, and India shall have sovereign rights over the area and its resources”.
• In the general description of Wadge Bank annexed with the treaty shared with the United Nations, it is described as “outside the territorial waters of India”.
• The Wadge Bank near Kanyakumari is rich in biodiversity and considered India’s richest fishery resource.
• As per the 1976 pact, Sri Lankan fishermen can’t engage in activities here.
• ??But at the request of Sri Lanka and as a gesture of goodwill, India agreed that Lankan fishing vessels licensed by the Government of India could fish in Wadge Bank for three years from its establishment as an exclusive economic zone of India with the stipulation that only six such vessels can fish and their catch cannot exceed 2,000 tonnes in a year.
• And, again at the request of the Sri Lankan government, India agreed to provide Colombo with 2,000 tonnes of fish of the quality, species, and at the price mutually agreed by the two sides for five years after the Lankans stopped fishing at the Wadge Bank.