Ministry of Earth Sciences invited suggestion on Draft Blue Economy Policy

Key Facts

• The Draft Blue Economy Policy was created by the government outlining the vision and strategy that can be adopted to utilize the oceanic resources that are available with the country.
• The policy was drafted with the aim of enhancing the contribution of the blue economy to India’s GDP.
• It also seeks to improve the lives of coastal communities and preserve the marine biodiversity.
• It will also maintain the national security of the marine areas and resources.
• The draft blue economy document has recognised the seven thematic areas such as:

1. National accounting framework of the blue economy and ocean governance;
2. Coastal marine spatial planning and tourism;
3. Marine fisheries, fish processing, and Aquaculture
4. Manufacturing, services, trade, technology, and skill development;
5. Logistics, infrastructure and shipping
6. Coastal & deep-sea mining and
7. Offshore energy & security, strategic dimensions and international engagements.

• Thus, the blue economy of India is a subset of national economy that caters to the entire ocean resources system.
• The policy also caters to the human-made economic infrastructure in marine, maritime, and onshore coastal zones in India’s jurisdiction.
• The policy is also linked with the production of goods and services which is ultimately linked with the economic growth, environmental sustainability, and national security.
• The draft policy also suggests to offer the Blue Economy related educational programs comprising of various technical and managerial skills in universities and technical institutes along the coastal states of India.

What is Blue Economy?

The concept of the blue economy aspires to promote the economic growth and social inclusion. It is also involved in the preservation or improvement of livelihoods. It also seeks to ensure the environmental sustainability in the oceans and coastal areas. It comprises of the sectors for which the returns are linked to living renewable resources in the oceans like fisheries. It also comprises the sectors whose return comes from non-living & non-renewable resources including the seabed mining, dredging and offshore oil & gas extractions.