New Delhi : The Ministry of Economics (MOES) has taken the draft Blue Economy Policy to the public, inviting suggestions and input from various stakeholders, including industry, NGOs, academia and citizens.
The draft policy outlines the vision and strategy for the government to harness the surplus of its abundant marine resources.
The document recognizes seven thematic areas: the blue economy and the national accounting structure of maritime administration; Coastal marine spatial planning and tourism; Marine fisheries, aquaculture and fish processing; Manufacturing, developing emerging industries, trade, technology, services and skills; Logistics, infrastructure and shipping including trans shipment; Coastal and deep sea excavation and coastal strength and protection, strategic dimensions and international engagement.
India’s blue economy is understood to be a subset of the national economy with a national maritime resource system and man-made economic infrastructure in the sea, ocean and coastal areas of the country. It supports the production of products and services that have a clear link to economic growth, environmental sustainability and national protection. The blue economy is a huge socio-economic opportunity for coastal countries like India to use ocean resources responsibly for social benefits.
India has a maritime location with a coastline of about one and a half thousand kilometers. It has nine coastal states in 29 states and 1,382 islands in the geography of the country. There are about 199 ports, including 12 major ports that handle about 1,400 million tons of cargo each year. Moreover, India’s exclusive economic zone of more than 2 million square kilometers has living and surviving resources, including significant renewable resources such as crude oil and natural gas. Also, the coastal economy maintains more than 4 million fishermen and coastal communities. With this huge maritime interest, the blue economy occupies an important potential position in India’s economic growth. It may be the next factor in GDP and well-being, but sustainability and socio-economic well-being are at the center. Thus, India’s draft blue economy policy has been envisioned as an important framework for unlocking the country’s potential for economic growth and welfare.
MOES has drafted a policy framework for the blue economy in line with the vision of the new Government of India by 2030. It has highlighted the blue economy as one of the ten core dimensions of national growth. The draft policy framework emphasizes policies across a number of key sectors to achieve the overall growth of the Indian economy. The document recognizes the following seven thematic fields.
- National Accounting Framework for Blue Economy and Marine Administration.
- Coastal Marine Spatial Planning and Tourism.
- Marine fisheries, aquaculture and fish processing.
- Manufacturing, emerging industries, trade, technology, services and skills development.
- Logistics, infrastructure and shipping including trans shipment.
- Coastal and deep sea excavation and offshore energy
- Security, strategic dimensions and international engagement.