DRAFT BLUE ECONOMY POLICY

DRAFT BLUE ECONOMY POLICY

Context

• Recently, the Ministry of Earth Sciences (MoES) has rolled out the draft Blue Economy policy, inviting suggestions and inputs from various stakeholders. It is in line with the Government of India’s Vision of New India by 2030.

More about Policy

• Definition of Blue Economy – Blue Economy can be defined as a subset of the national economy comprising of the entire system of ocean resources and man-made economic infrastructure in marine, maritime and the onshore coastal zones within India’s legal jurisdiction, which aid in the production of goods and services and have clear linkages with economic growth, environmental sustainability and national security
• Vision

India’s approach to harness the Blue Economy’s socio-economic potential should focus on

• • A framework for proper measurement of Blue Economy activities and their contribution to the national income;
  • Spatially oriented planning along with scientific assessment of Ocean resources and their sustainable use
  • Investment in financial capital, physical capital, natural capital and human capital to harness the potential of the Blue Economy and optimize GDP and employment growth;
  • Ensuring welfare, safety and livelihood of fishermen in the coastal areas
  • Innovation to ensure zero waste, low carbon technologies that yield economic dividend for large sections of the population,
  • Ocean security measures and balanced international engagements.

SIGNIFICANCE AND NEED FOR A BLUE ECONOMY POLICY

• Fisheries & Aquaculture – Fisheries, which is a vital oceanic resource forms the core of the Blue Economy, as one of the main resources of the Indian Ocean which provide food to hundreds of millions of people and greatly contribute to the livelihoods of coastal communities. It plays an important role in ensuring food security, poverty alleviation and also has a huge potential for business opportunities.
• Vast Coastline – With a coastline of nearly 7.5 thousand kilometers, India has a unique maritime position. Nine of its 28 states are coastal, and the nation’s geography includes 1,382 islands. There are nearly 199 ports, including 12 major ports that handle approximately 1,400 million tons of cargo each year.
• Utilisation of Non-living Resources – India’s Exclusive Economic Zone of over 2 million square kilometers has a huge living and non-living resources with significant recoverable resources such as crude oil and natural gas.
• Sustenance of Coastal Communities – The coastal economy sustains over 4 million fisherfolk and coastal communities.

 CHALLENGES TO THE BLUE ECONOMY

• Unsustainable extraction from marine resources, such as unsustainable fishing as a result of technological improvements coupled with poorly managed access to fish stocks and rising demand.
• Physical alterations and destruction of marine and coastal habitats and landscapes due largely to coastal development, deforestation, and mining
• Marine pollution, for example in the form of excess nutrients from untreated sewerage, agricultural runoff, and marine debris such as plastics
• Impacts of climate change, for example in the form of both slow-onset events like sea-level rise and more intense and frequent weather events. The long-term climate change impacts on ocean systems are not yet fully understood, but it is clear that changes in sea temperature, acidity, and major oceanic currents, among others, already threaten marine life, habitats, and the communities that depend on them.

WAY FORWARD

• In the era of advancement of technology, oceans are recognized as new centers of economic activity for significant trade and commerce in the fields of shipping, offshore oil and gas, fishing, undersea cables, and tourism. Besides these areas, there are other emerging industries such as aquaculture, marine biotechnology, ocean energy and sea-bed mining that have the potential to create jobs and spur worldwide economic growth