It is excellent that the government is promoting the blue economy, as it demonstrates its dedication to building a resilient and inclusive blue economy.
The blue economy can promote sustainable growth and bring about positive economic outcomes like greater commerce and job creation. India has the chance to take the lead in promoting the blue economy as it assumes the G20 presidency in 2022 by collaborating with other nations and international organizations to support its sustainable development and use.
The sustainable use and management of resources derived from the ocean for economic development and means of subsistence while safeguarding the well-being of the ocean and its ecosystems are referred to as the blue economy. It covers a wide range of pursuits, including mining, shipping, tourism, renewable energy, and more.
The importance of the Blue economy
Landlocked nations benefit from the blue economy as well because it offers them chances for maritime trade and commerce. The food security and economic viability of the human population are both influenced by the oceans, seas, and coastal regions.
India has a 7,500 km long coastline that is made up of 205 registered small and intermediate ports, 13 large ports, and 9 states.
Around 95% of business in India is conducted through these ports. The blue economy makes up 4% of India’s GDP overall.
1382 islands and more than 2 million square kilometers make up India’s Exclusive Economic Zone. For India’s blue economy, the country’s extensive coastline and sizable Exclusive Economic Zone (EEZ) present several options.
The challenges of the Blue economy in India
The lack of suitable infrastructure, such as ports, fishing harbors, and storage facilities, makes it difficult for India to effectively utilize its marine resources, which poses a challenge to the country’s blue economy.
In India’s blue economy, overfishing is a key cause for concern because it depletes fish stocks and limits the possibility of sustainable fishing and aquaculture.
The well-being of India’s marine ecosystem and the livelihoods of those who depend on it are seriously threatened by marine pollution from oil spills, garbage dumping, and sewage outflow. Ocean resources are undergoing substantial changes as a result of climate change, including increasing sea levels, ocean acidity, and altered ocean currents. The distribution and abundance of marine species are being impacted by these changes, which also affect human livelihoods.