Draft Policy Document on Blue Economy

In Context

• The Union Ministry of Earth Sciences (MoES) is finalising a National Policy on the blue economy for the country.

More about the news

• About:
  • A draft policy framework on India’s Blue Economy had been prepared. 
  • The policy envisages the optimal utilisation of all sectors of the maritime domain, from living and non-living resources to tourism and ocean energy for the sustainable development of coastal areas.
• The document contains key recommendations on the following dimensions:
  • A national accounting framework for the blue economy and ocean governance; 
  • Coastal marine spatial planning and tourism priority; 
  • Marine fisheries, aquaculture, and fish processing; 
  • Manufacturing, emerging industries, trade, technology, services, skill development; 
  • Logistics, infrastructure, and shipping; 
  • Coastal and deep-sea mining and offshore energy; and 
  • Security, strategic dimensions, and international engagement.
• A National Blue Economy Advisory Council has been proposed to be set up. 
  • It will have the secretaries of relevant ministries and departments as members and include chief secretaries/principal secretaries of the coastal states and representatives from industry.

What is Blue Economy?

• According to the World Bank, the blue economy is the:
  • “Sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem.” 
• European Commission defines it as:
  •  “All economic activities related to oceans, seas and coasts.

Significance of India’s Blue Economy

• India’s blue economy:
  • It is a subset of the national economy comprising the entire ocean resources system and human-made economic infrastructure in marine, maritime, and onshore coastal zones within the country’s legal jurisdiction. 
• Coastal states and islands:
  • With some 7,500 kilometres, India has a unique maritime position. Nine of its 29 states are coastal, and it’s geography includes 1,382 islands. 
• Ports and Exclusive Economic Zone:
  • There are nearly 199 ports, including 12 major ports that handle approximately 1,400 million tons of cargo each year. 
  • Besides, India’s Exclusive Economic Zone of over 2 million square kilometres has a bounty of living and non-living resources with significant recoverable resources such as crude oil and natural gas. 
• Coastal settlements:
  • The coastal economy sustains over 4 million fisherfolk and coastal communities.

Initiatives Taken by the Indian Government

• Sagarmala Project: 
  • Vision of the Sagarmala Programme is to reduce logistics cost for export-import and domestic trade with minimal infrastructure investment.
• Coastal Economic Zones: 
  • The government identifies CEZs in the National Perspective Plan for Sagarmala Programme.
  • CEZs aims to promote exports by providing infrastructure and facilities to entrepreneurs to set up businesses and industries near Ports.
• Indian Ocean Rim Association: 
  • India has been taking active participation in the IORA for promotion of blue economy in Indian Ocean littoral states.
• Matsaya Sampada Yojana: 
  • It is a flagship scheme for focused and sustainable development of the fisheries sector in the country.
  • It will bring about the Blue Revolution by harnessing fisheries’ potential in a sustainable, responsible, inclusive and equitable manner.
• Polymetallic Nodules: 
  • India has received the sanction from International Seabed Authority for deep-sea mining in the Central Indian Ocean.

Way ahead

• The blue economy occupies a vital potential position in India’s economic growth. 
• Countries like Australia, Brazil, the United Kingdom, the United States, Russia, and Norway have developed dedicated national ocean policies with measurable outcomes and budgetary provisions. 
• With a draft blue economy policy framework of its own, India is now all set to harness the vast potential of its ocean resources.
  • It could well be the next force multiplier of GDP and well-being, provided sustainability and socio-economic welfare are centered.

Source: TH