The Wadge Bank is a marine region rich in fishery resources, located south of Kanyakumari, India. It’s recognized by the Fishery Survey of India as an important area for marine life.
Historical Background:The Wadge Bank became a focal point during the maritime boundary negotiations between India and Sri Lanka, leading to two significant agreements.
The 1974 Agreement:This agreement resulted in India ceding the island of Katchatheevu to Sri Lanka, while still allowing Indian fishermen access to the island for certain activities.
The 1976 Agreement: A follow-up agreement in 1976 granted India sovereign rights over the Wadge Bank, placing it within India’s exclusive economic zone and giving India control over its resources.
Strategic and Economic Significance:Beyond fishing, the Wadge Bank is speculated to contain oil reserves, making the region strategically valuable.
Current Scenario:The agreements have sparked political debate in India, with differing views on whether the exchange was a territorial loss or a strategic gain. The area remains crucial for the livelihood of fishermen from Tamil Nadu and Kerala.
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