Context
Blue Economy is stated to be the sixth dimension of the Government of India’s Vision of #NewIndia by 2030 by the union minister of science and technology.
What is the Blue Economy?
Blue Economy is defined by the World Bank as ‘the development of oceanic economic activities in an integrated and sustainable way.
- It is focused on capturing potential synergies and managing the trade-offs across industries to better address the growing threats now confronting oceans, and particularly those posed by climate change.
India & Blue Economy
- India holds a unique maritime position as it is surrounded by oceans on its three sides.
- Around 30 per cent of India's population is living in coastal areas and its 7,517 km long coastline is home to nine states and 1,382 islands.
- For India, its oceans are a major economic factor supporting fisheries and aquaculture, tourism, livelihoods and blue trade.
- Minerals such as gas hydrates, polymetallic nodules, polymetallic sulphides are abundant in the Indian Exclusive Economic Zone (EEZ) and the Indian Ocean.
- India is one of the frontline nations in marine scientific research and is also actively engaged in exploring the resourceful ocean bed for meeting the country's future energy and metal demands.
- The Government of India's vision of New India by 2030 underlines the Blue economy as one of the 10 core dimensions of growth.
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