Blue Economy, Meaning, Indian Policy, Blue Economy 2.0 for UPSC
The Blue Economy refers to the sustainable use of ocean resources for economic growth. Explore the concept of the Blue Economy, its key principles, and benefits.
Bhavya Upadhyay29 Oct, 2024
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Blue Economy refers to the sustainable use of ocean resources for economic growth, this initiative aims to improve livelihoods and job creation while preserving the health of ocean ecosystems. With increasing global interest, the Blue Economy is becoming a critical development area, balancing economic opportunities and environmental protection.
Keep reading to explore the concepts of the Blue Economy , its global relevance, its meaning in the context of sustainable development, and specifically, its growth and policies in India.What is the Blue Economy?
The Blue Economy is a strategized and economic-based model introduced by Gunter Pauli in his 2010 book "The Blue Economy: 10 Years, 100 Innovations, 100 Million Jobs" to promote the sustainable and efficient utilization of ocean resources. Focusing on the health of marine ecosystems inversely supports sectors like fishing, aquaculture, maritime transportation, coastal tourism, and renewable energy generation. Unlike traditional resource exploitation methods, the Blue Economy highlights the long-term ecological balance, which makes it essential to sustainable development.Meaning and Important Sectors of Blue Economy
The meaning of the Blue Economy goes beyond just tapping into oceanic resources. It is necessary to understand that oceans are both an economic asset and a shared ecological responsibility. Oceans cover over 70% of the Earth’s surface , providing biodiversity and supporting weather patterns, water cycles, and atmospheric carbon balance. Therefore, the health of oceans has profound implications for the environment, food security, and the economy. The Blue Economy comprises various sectors such as:- Renewable Energy : Harnessing sustainable energy sources like offshore wind and tidal energy. According to the International Renewable Energy Agency , offshore wind power alone could account for over 10% of global electricity by 2050.
- Fisheries : Promoting sustainable fishing practices that help to conserve marine species. Aquaculture contributes immensely to global seafood production, with growth projected to reach over 102 million tonnes by 2030.
- Maritime Transport : Since 90% of global trade happens through oceans, advancements in maritime transport are prominent in reducing greenhouse gas emissions and contributing to the Blue Economy.
- Marine Biotechnology : Marine biotechnologies extract compounds from marine organisms, which are usually used in the pharmaceuticals, cosmetics, and food industries.
- Tourism : Promoting eco-friendly coastal tourism to boost local economies.
- Climate Change Mitigation : Using oceans as carbon sinks to reduce greenhouse gases (“blue carbon”).
- Waste Management : Implementing efficient waste management on land to reduce marine pollution.
Understanding Blue Bonds
Blue Bonds are an innovative and new type of financial instrument that is issued by governments or development banks to raise funds for marine and ocean-based projects . Blue Bonds means to:- Expand marine protected areas.
- Improve fisheries management.
- Support Blue Economy projects.
Blue Economy 2.0
Blue Economy 2.0 refers to an integrated and multi-sectoral approach to using ocean resources that focuses on being both environmentally friendly and economically beneficial . It aims to grow industries related to the ocean while protecting marine life and habitats. The concept of Blue Economy 2.0 is not just an initiative intended to promote economic growth but it is a new model where innovation and sustainability drive the marine sector. The United Nations estimates that by 2030, the Blue Economy could contribute USD 3 trillion to the global economy , especially addressing to the evolving employment challenges. However, to achieve this mission countries need to adopt Blue Economy 2.0 practices, such as climate-smart fisheries, low-carbon shipping, and enhanced marine protection, to combat climate change and pollution.Blue Economy in India
India comprised of an extended coastline of over 7,500 km , is well-positioned to leverage the Blue Economy for both domestic and international trade. In 2021, the Ministry of Earth Sciences (MoES) proposed a draft Blue Economy Policy to align with the United Nations Sustainable Development Goals (SDGs), particularly SDG 14. The Blue Economy in India accounts for approximately 4% of the nation’s Gross Domestic Product (GDP) , supporting 95% of its trade through maritime transport. Key elements of Blue Economy 2.0 for India include:- Promoting livelihood opportunities for coastal communities.
- Ensuring energy security through offshore resources.
- Enhancing economic resilience by mitigating risks associated with climate change and natural disasters.
- Aligning with SDG 14 , which mainly focuses on conserving oceans, seas, and marine resources.
Blue Economy and India’s Coastal States
Coastal states of India, such as Gujarat, Maharashtra, Tamil Nadu, and Odisha, have been early adopters of the Blue Economy model. Initiatives like the Sagarmala Project focused on port modernization, logistics, and enhancing shipping infrastructure. Similarly, the Indian government has also committed to expanding marine fishing by 200% through the Pradhan Mantri Matsya Sampada Yojana (PMMSY), which targets to sustainable aquaculture and marine fisheries.| Sagarmala Project particularly seeks to reduce logistics costs for trade by enhancing port infrastructure along India’s vast coastline. By 2025, it aims to boost India’s exports to USD 110 billion and create approximately 10 million jobs. The project also envisions the Sagarmala Seaplane Services to strengthen marine tourism and connectivity. |
Challenges in Developing India’s Blue Economy
While the Blue Economy holds great promise, India faces several challenges:- Marine Pollution : Approximately 80% of coastal pollution in India originates from land-based sources, such as untreated sewage, plastic waste, and industrial runoff.
- Overfishing and Depleting Marine Resources : Overfishing endangers fish stocks, which in turn ultimately affects the biodiversity and livelihoods of coastal communities.
- Climate Change : Rising sea levels, ocean acidification, and changing ocean currents, because of changes in climate, which directly impact marine biodiversity and fishing industries.
- Infrastructure and Capacity Gaps : India’s infrastructure for sectors like maritime transport, port facilities, and marine biotechnology is still in its developmental stages, this requires more strong investment and policy frameworks.
- Threat of Maritime Crimes : Piracy, illegal trade, and terrorism threaten the stability of marine trade routes.
Steps Taken to Promote Blue Economy in India
To handle these serious challenges persisting in society, India has implemented many initiatives for the sustainable development of the Blue Economy:- Deep Ocean Mission : Focused on developing technologies for resource extraction from deep oceans.
- India-Norway Task Force : Established to collaborate on sustainable development of ocean resources.
- Sagarmala Project : A wide initiative for port-led development, focusing on modernization and sustainability.
- O-SMART Program : Seeks to manage oceans and marine resources sustainably.
- Integrated Coastal Zone Management : Targets the conservation of marine resources and enhances livelihoods in coastal areas.
- National Fisheries Policy : Part of the Blue Growth Initiative, promoting the sustainable utilization of marine wealth.
The Future of Blue Economy in India
To realize the full potential of the Blue Economy, India should adopt sustainable practices inspired by Gandhian principles, which focus on balanced growth and environmental conservation. Steps to ensure a sustainable Blue Economy include:- Expanding marine research and Information and Communication Technologies (ICTs) .
- Prioritizing disaster preparedness to protect coastal and marine communities.
- Considering oceans as platforms for international cooperation and cultural exchange rather than just economic zones.
Blue Economy in News
The concept of the Blue Economy has recently gained attention as the government of India underlines that the Blue Economy will be considered the sixth dimension of its Vision for New India Initiative by 2030. The Ministry of Earth Sciences has proposed a Draft Policy on the Blue Economy , which highlights the importance of India’s economic and environmental future, developed from expert insights for a comprehensive approach to marine and coastal resource management.Conclusion
The Blue Economy offers transformative opportunities to redefine India’s relationship with its marine resources, supporting economic growth while safeguarding environmental balance. With the right mix of policies, investment in technology, and international collaboration, India can emerge as a global leader in Blue Economy 2.0 . By addressing the challenges and optimizing its vast marine resources, the Blue Economy in India has the potential to play a pivotal role in sustainable development, contributing to global efforts against climate change and oceanic pollution.To study these topics in detail, explore PW UPSC Courses and get closer to your dream!
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Blue Economy FAQs
Is India a blue economy?
Yes, India developing its blue economy through initiatives like the Deep Ocean Mission and Sagarmala Project, aiming to balance growth with ocean sustainability.
What is the Blue Economy scheme?
The Blue Economy scheme focuses on the sustainable use of ocean resources for economic growth, coastal development, and marine conservation.
Who first introduced the Blue Economy?
Gunter Pauli first introduced the blue economy concept in his 2010 book, promoting eco-friendly oceanic resource use for economic development.
What are the three pillars of the Blue Economy?
The three pillars of the Blue Economy are sustainable ocean resource use, social inclusion, and environmental sustainability.
How does the Blue Economy benefit India?
India's Blue Economy strategy promotes GDP growth, jobs, and marine conservation, leveraging a 7,500-km coastline for sustainable development.
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