India Bans 'Finning' Sharks in a Move to Protect Endangered Species

India's ministry of environment announced Monday it has banned the practice of hunting sharks for only their fins. The move comes as an attempt by the world's second largest catcher of sharks to protect the fish from indiscriminate slaughter to feed a market hungry for shark fin around the world.

According to the new law, fishermen found with hauls of bodiless shark fins will face as many as seven years in prison, according to a report by Reuters. Numerous shark species swim in the waters off India's coast, several of them endangered, including whale sharks, hammerheads and broadfins.

Slicing off a shark's fin and throwing its body back in the water where it will bleed to death, or die from starvation or the inability to move is a practice known as "finning." A gourmet demand for shark fin soup in China, Hong Kong and other parts of Asia has created a long-standing market for shark fins. In Hong Kong, which handles between 50 percent and 80 percent of the world trade in shark fin, fins are sold in markets in large jars for $250-$875, according to The Atlantic.

"For more than a decade, shark fin soup has served as a de rigueur component of any meal intending to highlight the host's wealth, resulting in the consumption of hundreds of millions of shark fins," The Atlantic wrote earlier this month.

According to data compiled by the UN, India is the second largest shark fishery on Earth, following Indonesia. The two countries account for one-fifth of yearly global shark catch. The UN report states that loose or non-existent fishing regulations are putting shark populations in jeopardy worldwide. As many as 73 million sharks are killed for their fins each year, the report stated.

But despite a persistent market for shark fins, an increasingly conscious public may be having an effect on the demand for them. Last year Indian fishermen exported $4.8 million worth of shark fins to China, less than half the value of the $11.3 million shipped in 2010, Reuters reported.

A campaign by former NBA star Yao Ming has also raised awareness in China about the cruel reality behind shark fin soup.

"I think that as a lot of people began to consume shark fins, they were simply unaware of the cruelty and marine ecological destruction behind it," Ming said. "Like me, once they understand the facts, they'll boycott consumption of shark fins and spread the word."