- 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 development.
- 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 selected projects.
- 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.
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