India’s Vice President Venkaiah Naidu has said
that any further degradation of marine ecosystems should be prevented. He also
advocated that India should reap the enormous potential of ‘blue economy’ to
achieve higher economic growth.
Blue economy is the sustainable use of ocean resources
for economic growth, improved livelihood and jobs, and ocean ecosystem health. Goal
14 of the Sustainable Development Goals (SDGs) calls for conservation and
sustainable use the oceans, seas, and marine resources for sustainable
With a view to promote blue economy, the India
government had launched the Sagarmala project. The projects seeks to a) promote
port-led direct and indirect development and b) provide infrastructure to
transport goods to and from ports in a fast, cost-effective and efficient way.
Sagarmala Development Company (SDC) has been set
up to identify port-led development projects under the Sagarmala project. It provides
equity support for the project Special Purpose Vehicles (SPVs), and implement
The government has also been implementing “Blue
Revolution: Integrated Development and Management of Fisheries”. It provides
for development and management of the inland and marine fisheries sector
including deep sea fishing in order to boost fish production and productivity.
The government has also notified National Policy
on Marine Fisheries, 2017. It aims at sustainable development the marine
fisheries sector in India.
India, as a member of the Indian Ocean Rim
Association (IORA) has adopted Mauritius Declaration enhancing Blue Economy
Cooperation for Sustainable Development in the Indian Ocean Region.
IORA is an inter-governmental organisation aimed
at strengthening regional cooperation and sustainable development within the
Indian Ocean region. It has 22 Member States and 9 Dialogue Partners.