Should India own the Indian Ocean?

Read an article today on the collapse of the wild Tuna stocks and what struck me was that while fishing in the Mediterrenean is strictly regulated most of the Spanish and French catch is from the Indian Ocean and overfishing is leading to collapse. maybe India and Australia need to team up and make the Indian Ocean off limits for fishing for all but Indian Ocean Littoral states. I mean how would Canada react to an Indian trawler in the Grand Banks taking in unregulated Cod? Another case for a Blue Water Indian Navy