Inter-Ministerial Joint Workshop on Blue Economy

MoES has partnered with the World Bank to conduct a technical study and prepare a report titled ‘India’s Blue Economy‘. Pathways for resource-efficient, inclusive and resilient growth in India’.
The report should address global best practices in Blue Economy implementation, ocean accounting framework, institutional strengthening, and innovative finance mechanisms for implementing the Blue Economy Policy framework.

What is the Blue Economy?

It is referred as the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem.

India’s Blue Economy

India has a 7,517 km long coastline and Exclusive Economic Zone (EEZ) of over two million square km is rich in living and non-living resources.
India’s blue economy accounts for roughly 4% of the GDP and is estimated to increase once the mechanism is improved.
The coastal economy also sustains over 4 million fisherfolk and other coastal communities.
Four primary industries in India can fuel its blue economy; fishing, aquaculture, ports, and shipping.

Significance of the Blue Economy

Economic Growth: The Blue Economy presents significant opportunities for economic growth through sectors such as fisheries, aquaculture, tourism, maritime transport, renewable energy, and biotechnology.

Resource Utilization: It promotes the sustainable utilization of marine resources, including fish stocks, minerals, and energy sources, ensuring their availability for current and future generations.

Renewable Energy: The Blue Economy encourages the development of renewable energy sources such as offshore wind, wave, and tidal energy, reducing dependence on fossil fuels and mitigating climate change.

Tourism: Coastal and marine tourism is a key component of the Blue Economy, generating revenue, employment, and supporting local economies in coastal regions.

Climate Change Mitigation: Healthy oceans play a crucial role in regulating the Earth’s climate.

Biodiversity Conservation: By promoting sustainable practices and responsible management of marine resources, the Blue Economy contributes to the conservation of marine biodiversity and the protection of endangered species and habitats.

Challenges

Pollution and environmental degradation: India’s coastal areas face significant pollution from various sources, including industrial discharge, untreated sewage, agricultural runoff, and plastic waste.

Overexploitation of marine resources: Illegal, unreported, and unregulated (IUU) fishing exacerbates the problem, leading to depletion of fish stocks and loss of livelihoods for coastal communities.

Climate change impacts: Rising sea levels, ocean acidification, and changes in ocean temperature and currents due to climate change affect fisheries, aquaculture, coastal infrastructure, and biodiversity.

Maritime security challenges: India’s maritime security is threatened by various factors, including piracy, illegal trafficking, maritime terrorism, and territorial disputes.

Limited institutional capacity and infrastructure: Developing and managing the blue economy requires robust institutional frameworks, governance mechanisms, and infrastructure.

Steps Taken by Government of India to Promote Blue Economy

National Policy Framework: Government has formulated a National Policy Framework for the Blue Economy, which provides a strategic roadmap for sustainable development and management of marine resources.

Sagarmala Programme: The Sagarmala Programme is a flagship initiative aimed at modernizing India’s ports, enhancing port connectivity, and promoting port-led development.

National Marine Fisheries Action Plan (NMFAP): The plan includes measures to improve fishery resources assessment, enhance infrastructure and technology in the fisheries sector, and promote aquaculture development.

Blue Economy Cell: The Ministry of Earth Sciences has established a dedicated Blue Economy Cell to coordinate research, policy formulation, and implementation of Blue Economy initiatives.

Integrated Coastal Zone Management (ICZM): The government has implemented the Integrated Coastal Zone Management Program to promote sustainable development and conservation of coastal ecosystems.

Marine Spatial Planning (MSP): India has initiated efforts to develop Marine Spatial Planning frameworks to ensure efficient and sustainable use of marine space.

Way Ahead

The Blue Economy in India is poised for significant growth in the next few years.
The Blue Economy Mission undertaken by the government can lead to the sector becoming the next economic multiplier, depending on the execution of the policies that have been decided.
The sector is the sixth dimension of the government’s ‘Vision of New India by 2030’; with the Blue Economy policies aiming for long-term economic advantages in order to achieve the greater goals of growth, job creation, equity, and environmental protection.

Read also: Fishing Industry in India