The Blue Economy: Everything You Need to Know

The Blue Economy: Everything You Need to Know

Recently, the Minister of State for Earth Sciences, Government of India has said that in the coming years, India aims to have a blue economy of more than 100 billion through its Deep Ocean Mission (DOM) and ocean resources. "Deep Ocean Mission" will not only but the economy but also it could help provide clean drinking water and find ways to desalinate water, as well as extract minerals from sea belts. In this context most of the time we are discussing about blue economy. What does it mean? Let’s have a look.

What is Blue Economy?

Blue economy is also known by the names of marine economy, coastal economy and ocean economy. Blue economy includes those economic activities in which the resources of the ocean are used in such a way that it does not harm the marine ecosystem. On the other hand, according to the World Bank, when the resources of the sea are used by keeping economic development, livelihood and employment and protection of the ocean ecosystem at the center, then it comes under Blue Economy. If seen, India's blue economy is understood as a subset of the national economy, which includes the entire marine resource system and the maritime economic structure and the coastal marine zone under the country's legal jurisdiction.

India's maritime position is unique with a coastline of about 7.5 thousand kilometers. Nine of India's 28 states are coastal, and the country's geography includes 1,382 islands. There are about 199 ports with 12 major ports handling about 1,400 million tonnes of cargo each year. The 2 million square kilometer Exclusive Economic Zone is rich in extractable living and non-living resources such as crude oil and natural gas. The coastal economy consists of over 4 million fishermen and people from coastal communities. With this vast maritime interests, blue economy holds a potential place in India's economic development. With sustainability and socioeconomic welfare at the center, the blue economy has the potential to drive the next leap in GDP.

Sustainable Development Goals and Blue Economy

United Nations member states including India adopted 17 Sustainable Development Goals which are known as Global Goals. It has been brought for a universal effort to end poverty, peace and prosperity by 2030. The 14th goal of the Sustainable Development Goal is related to the conservation and sustainable use of oceans, seas and marine resources.

Blue Economy in other Countries

Many countries have made efforts to strengthen their blue economy. For example, Australia, Brazil, the UK, the USA, Russia and Norway have developed dedicated national ocean policies with measurable outcomes and budgetary consequences. Canada and Australia have legislated in this regard and have established various institutions at the federal and state levels to ensure progress and monitoring of blue economy goals.

Deep Ocean Mission (DOM) and Blue Economy

The Government of India had approved the 'Deep Ocean Mission' on June 2021. The main objective of Deep Ocean Mission (DOM) is to explore marine resources and develop technology for sustainable exploitation of deep-sea resources. Deep Ocean Mission (DOM) will give a boost to the Blue Economy. It is being considered as an important mission to take forward the blue economy policy of the Government of India. The Deep Ocean Mission will be implemented in a phased manner over five years by the Ministry of Earth Sciences, Government of India.

Significance of Blue Economy

•    Source of renewable energy: Maritime renewable energy sources, such as offshore wind, floating solar arrays and wave and tidal power, hold enormous promise to build energy independence and help countries meet their emissions reduction.

•    New jobs and food security: Investing in sustainable fisheries and aquaculture will create new jobs and help in promoting food security and economic fairness.

•    Tourism: Sustainable and re-forming tourism can form a critical building block in ensuring a lasting economic recapture for coastal nations in a way that supports the ocean and nature – and the innumerable people who depend on them.

•    Maritime Transport: Maritime transport plays a big role in the globalized market in the form of containerships, tankers, and ports, coastal tourism is the largest employer within ocean-related activities.

•    Eighty percent of trade happens on the seas: Eighty per cent of world trade transpires using the seas, 40 per cent of the world’s population lives nearby coastal areas, and more than three billion people contact the oceans for their livelihood.

The Blue Economy is self-assured for significant growth in the next few years. Transitioning away from an agricultural industry on the way to a bluer economy will be challenging. This means that governments must slog together to make blue economies supportable, share research and know-how. In India, the sector is the sixth measurement of the government’s ‘Vision of New India by 2030’; with the Blue Economy policies aiming for long-term economic advantages in order to achieve the greater goals of growth, job creation, equity, and environmental protection.


Dr. Atul Madhao Pradhan
Assistant Professor
School of Agriculture
SAGE University, Bhopal (M.P.)

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