Why is it in the News?

Recently, the Ministry of Earth Sciences (MoES) organized a consultative workshop in New Delhi today on the Blue Economy Pathways study report status.

Context:

• The Ministry of Earth Sciences (MoES) has collaborated with the World Bank to conduct a technical study and compile a report titled 'India’s Blue Economy: Pathways for resource-efficient, inclusive, and resilient growth in India.'
• This report aims to explore global best practices in Blue Economy implementation, develop an ocean accounting framework, enhance institutional capacity, and propose innovative finance mechanisms in alignment with India's Blue Economy Policy framework.

What is the Blue Economy?

• The blue economy, or the ocean economy, is a term used to describe the economic activities associated with the oceans and seas.
• The World Bank? defines the blue economy as the “sustainable use of ocean resources to benefit economies, livelihoods, and ocean ecosystem health”.
• The activities? commonly understood to represent the blue economy include maritime shipping, fishing and aquaculture, coastal tourism, renewable energy, water desalination, undersea cabling, seabed extractive industries and deep sea mining, marine genetic resources, and biotechnology.
• The blue economy is estimated to be worth more than US$1.5 trillion? per year globally.
• It provides over 30 million jobs and supplies a vital source of protein to over three billion people.

How do the Oceans Contribute to Sustainable Development?

• There is a Sustainable Development Goal (SDG) dedicated to oceans: number 14, ‘Life Below Water?’ aims to conserve and sustainably use the oceans, seas, and marine resources.
• It sets out seven targets for a sustainable ocean economy by 2030. So far, progress toward reaching these goals has been limited?.
• There have been some small improvements in the sustainability of fisheries and an expansion of Marine Protected Areas (MPAs), but these cover only around 7.5% of the oceans.

How are the Oceans Governed?

• Governance of the ocean and the blue economy is both complex and potentially difficult to implement, which has led to fragmented approaches to the sharing of marine resources between nations and impeded understanding of the environmental impacts of the blue economy.
• Ocean-related regulations apply to Exclusive Economic Zones (EEZs), which include territorial waters, archipelagos, and the area of sea that extends 200 nautical miles out from countries’ coastlines.
• The remaining area is called the High Seas? (or ‘open ocean’) and accounts for 64% of the world’s oceans.

Importance of the Blue Economy:

• Economic Prosperity: The Blue Economy offers substantial avenues for economic advancement across various sectors including fisheries, aquaculture, tourism, maritime transport, renewable energy, and biotechnology.
• Sustainable Resource Management: It advocates for the responsible and sustainable utilization of marine resources such as fish stocks, minerals, and energy sources, ensuring their availability for present and future generations.
• Renewable Energy Development: By fostering the exploration of renewable energy sources like offshore wind, wave, and tidal energy, the Blue Economy reduces reliance on fossil fuels, thereby combating climate change.
• Tourism Boost: Coastal and marine tourism serves as a cornerstone of the Blue Economy, stimulating revenue generation, and job creation, and bolstering local economies in coastal areas.
• Climate Change Mitigation: Healthy oceans play a pivotal role in regulating the planet's climate.
  • Through conservation efforts and sustainable practices, the Blue Economy aids in mitigating climate change impacts by preserving coastal ecosystems and reducing carbon emissions.
• Biodiversity Protection: Through the promotion of sustainable practices and responsible resource management, the Blue Economy contributes to the conservation of marine biodiversity, safeguarding endangered species and habitats.

Challenges Facing the Blue Economy:

• Pollution and Environmental Degradation: India's coastal regions confront significant pollution stemming from industrial discharge, untreated sewage, agricultural runoff, and plastic waste.
  • This pollution adversely impacts marine ecosystems, biodiversity, and the long-term sustainability of marine industries.
• Overexploitation of Marine Resources: Illegal, unreported, and unregulated (IUU) fishing practices exacerbate resource depletion, leading to diminished fish stocks and jeopardizing the livelihoods of coastal communities.
• Climate Change Impacts: The effects of climate change, such as rising sea levels, ocean acidification, and alterations in oceanic conditions, pose threats to fisheries, aquaculture, coastal infrastructure, and marine biodiversity.
• Maritime Security Challenges: India's maritime security faces multifaceted challenges including piracy, illegal trafficking, maritime terrorism, and territorial disputes, necessitating robust security measures.
• Limited Institutional Capacity and Infrastructure: Effective management and sustainable development of the blue economy require robust institutional frameworks, governance mechanisms, and infrastructure.
  • However, India grapples with capacity constraints, inadequate funding, bureaucratic inefficiencies, and regulatory gaps, hindering optimal resource management and development.

India's Blue Economy:

• India's Blue Economy, encompassing its vast coastline and Exclusive Economic Zone (EEZ), holds immense potential for driving sustainable growth and development.
• With a coastline stretching 7,517 km and an EEZ covering over two million square kilometers, India is endowed with abundant living and non-living resources.
• Although currently contributing approximately 4% to the nation's GDP, India's Blue Economy is projected to experience significant expansion with improved mechanisms and infrastructure.
  • Furthermore, the coastal economy plays a crucial role in sustaining the livelihoods of over four million fisherfolk and other coastal communities.

Four key industries are poised to propel India's Blue Economy forward:

• Fishing: Leveraging the rich marine resources to enhance fisheries production and promote sustainable fishing practices.
• Aquaculture: Developing innovative techniques to foster the cultivation of aquatic organisms, contributing to food security and livelihood opportunities.
• Ports: Investing in port infrastructure and capacity building to facilitate maritime trade, cargo handling, and logistics efficiency.
• Shipping: Strengthening the shipping industry to support global commerce, transportation, and connectivity while ensuring environmental sustainability

Government Initiatives Promoting Blue Economy:

• Sagarmala Programme: The Sagarmala Programme, a flagship initiative, focuses on modernizing India's ports, improving port connectivity, and driving port-led development.
  • It prioritizes logistics optimization, coastal shipping promotion, and the establishment of coastal economic zones to stimulate economic expansion and employment generation.
• National Policy Framework: The government has devised a comprehensive National Policy Framework for the Blue Economy, outlining a strategic path for the sustainable development and management of marine resources.
  • It aims to integrate sectors like fisheries, aquaculture, shipping, tourism, and renewable energy to foster holistic growth.
• National Marine Fisheries Action Plan (NMFAP): This plan encompasses strategies to enhance fishery resources assessment, upgrade infrastructure and technology in the fisheries sector, and encourage aquaculture development.
• Integrated Coastal Zone Management (ICZM): The government has initiated the Integrated Coastal Zone Management Program to foster sustainable development and conservation of coastal ecosystems.
• Blue Economy Cell: The Ministry of Earth Sciences has instituted a dedicated Blue Economy Cell to streamline research, policy formulation, and implementation of Blue Economy endeavors.
• Marine Spatial Planning (MSP): India is actively developing Marine Spatial Planning frameworks to ensure the efficient and sustainable utilization of marine space.

Conclusion

India's Blue Economy is on the brink of substantial expansion in the coming years.

With the government's proactive Blue Economy Mission, there's potential for this sector to emerge as a key economic driver, contingent upon effective policy implementation.

Aligned with the government's broader vision outlined in the 'Vision of New India by 2030', the Blue Economy policies are geared towards securing enduring economic benefits, fostering job creation, promoting equity, and safeguarding environmental sustainability.