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Draft Blue Economy Policy for India

  • Posted By
    10Pointer
  • Categories
    Economy
  • Published
    20th Feb, 2021

Context

  • The Ministry of Earth Sciences (MoES) has rolled out the Draft Blue Economy policy for India in the public domain inviting suggestions and inputs from various stakeholders including industry, NGOs, academia, and citizens.

Blue Economy

  • The blue economyis the "sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem".

About the draft blue economy policy

  • The draft is prepared by the Ministry of Earth Science (MoES).
  • It is prepared in line with the Government of India’s Vision of New India by 2030.
  • It outlines the vision and strategy that can be adopted by the Government of India to utilize the plethora of oceanic resources available in the country.
  • India's draft blue economy policy is envisaged as a crucial framework towards unlocking the country’s potential for economic growth and welfare.
  • It highlighted the blue economy as one of the ten core dimensions for national growth.
  • It aligns with SDG 14 of the United Nations.

Focused areas:

The document recognizes the following seven thematic areas.

  • National accounting framework for the blue economy and ocean governance.
  • Coastal marine spatial planning and tourism.
  • Marine fisheries, aquaculture, and fish processing.
  • Manufacturing, emerging industries, trade, technology, services, and skill development.
  • Logistics, infrastructure, and shipping, including trans-shipments.
  • Coastal and deep-sea mining and offshore energy.
  • Security, strategic dimensions, and international engagement.

Aims:

  • To enhance the contribution of the blue economy to India’s GDP
  • improve lives of coastal communities
  • preserve marine biodiversity
  • to maintain the national security of marine areas and resources.