28 Mar BLUE ECONOMY AND INDIA
BLUE ECONOMY AND INDIA – Today Current Affairs
To understand the blue economy’s sustainability , let us first understand what a blue economy is?. It can be defined as- ‘sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystems”. It encompasses many activities such as fisheries, renewable energy, tourism, maritime transport, waste management, and climate change mitigation. Sustaining the marine resources remains at the heart of the blue economy.
Fisheries form a key source of protein and livelihood for millions of people living in the coastal areas. However, aggressive commercial fishing and the use of heavy industrial fishing boats around the globe have led to over-exploitation or depletion of fish stocks.
Considering the rapid unsustainable use of marine resources, the United Nations agreed, in 2015, on a new Sustainable Development Goal (SDG) or commonly known as Goal 14, aimed at conserving and making sustainable use of oceans, sea and marine resources (SDG 2015).
Blue economy: The Hindu Analysis
- It is a subset (part) of the national economy.
- It consists of ocean resources and economic infra in marine domain
- fisheries, aquaculture, marine tourism, renewable ocean energy, seabed mining, off-shore oil and gas, etc.
Significance for India’s economy: The Hindu Analysis
Developmental needs Contribution by Oceans-
- Food- Fishes, shrimps, prawn are rich in protein; Edible seaweed are rich in protein and fiber
- Jobs- People involved in fisheries and marine tourism
- Fuel – Off-shore oil and gas, methane hydrates (world’s largest natural gas reserves)
- Renewable energy- Wave energy; tidal energy; off-shore wind energy; floating solar, power plants
- Metals;Rare Earth metals- Seabed mining; Polymetallic nodules
- Trade- 90 percent of world trade is carried by sea
Ministry of Earth Sciences has released Draft Blue Economy Policy for India (February 2021) – Today Current Affairs
India as Blue Economy: The Hindu Analysis
➢ India’s unique maritime position:
➢ 7,517 km long coastline,
➢ more than 200 sea ports,
➢ 23 lakh km2 of EEZ with bounty of living and non-living resources.
➢ Ocean Policy Statement 1982 focused on developing technologies for sustainable harnessing of ocean resources.
➢ In 1987 India was given 1.5 lakh km2 in central Indian Ocean basin for nodule exploration.
➢ Sagarmala project for port lead development.
➢ O-SMART program of Ministry of Earth Sciences.
➢ Ocean Services, Modeling, Applications, Resources and Technology:
➢ Regular updates on living resources, monitor seawater pollution, early weather forecast, explore Polymetallic Nodules and gas hydrates.
➢ e-SANTA online platform to connect aqua farmers and buyers
➢ Seaweed park in Tamil Nadu to be set up (Budget announcement)
➢ In 2015, India stated Security and Growth for All in the Region (SAGAR) vision for maritime cooperation in Indian Ocean region.
➢ In 2020, India joined Indian Ocean Commission as Observer.
Way forward: The Hindu Analysis
- a) Arresting marine pollution at source; use of sewage treatment plants.
- b) Increasing fishermen’s capabilities for sustainable fishing techniques.
- c) More international cooperation for seabed mining.
- d) Use of Blue Bondsto finance ocean-based projects e.g. Seychelles in 2018
Additional comments: The Hindu Analysis
- a) SDG goal 14 aims for sustainable use of marine resources.
- b) UN has declared 2021-2030 as the Decade of Ocean Science for Sustainable Development.
- c) Oceans are not an unlimited source of fishes and dumping ground of waste.
- d) Indian ocean is a vast natural resource, its sustainable use can significantly contribute to double digit GDP growth.
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