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Blue Economy Meaning, Policy, Importance, & More

PWOnlyIAS October 28, 2024 07:10 89 0

Blue Economy refers to the marine resources for economic development, transport services, and exploration. Explore more about what is Blue Economy and its significance.

Blue Economy Meaning, Policy, Importance, & More

Blue Economy: More than 70% of the Earth’s surface is covered by oceans, yet we frequently neglect the immense potential they offer. The “Blue Economy” idea aims to shift this perspective by acknowledging the importance of our oceans and utilizing their resources sustainably and responsibly. In simple terms, the Blue Economy focuses on leveraging the resources of our oceans to foster economic development while maintaining the health and welfare of marine ecosystems.

As the world becomes more reliant on marine resources, the blue economy aims to use these resources responsibly while addressing climate change and pollution. Here we have provided a comprehensive guide for UPSC aspirants to understand the Blue economy, its importance, and its challenges.

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What is Blue Economy?

The Blue Economy is a concept promoting sustainable oceanic and marine-based economic activities. It views oceans, seas, and coastal areas as resources with immense economic potential. The focus is on sustainable practices that drive growth and protect marine ecosystems. This includes sectors like fishing, shipping, tourism, and marine biotechnology, aiming to balance economic benefits with environmental protection.

Also Read: Union Budget 2024-25

Blue Economy in India

India has vast marine resources with a coastline stretching over 7,500 km. The Blue Economy plays a crucial role in India’s economic growth, providing jobs and contributing to fishing, tourism, and energy sectors. India’s focus on maritime security and sustainable fishing is key to preserving biodiversity while fostering economic growth in coastal areas.

Aspect Details
Definition Sustainable use of marine resources for economic growth, livelihood improvement, and ecosystem health.
India’s Sectors Shipping, tourism, fisheries, offshore oil, and gas exploration.
SDG Alignment Linked with SDG 14: Conserving oceans, seas, and marine resources for sustainable development.
India’s Coastline 7,500 km with Exclusive Economic Zones (EEZ) extending over 2.2 million square km.
Ports and Infrastructure India has 12 major ports, 200+ minor ports, 30 shipyards, and various maritime service hubs.
Ocean Coverage Oceans cover 75% of Earth’s surface, contain 97% of Earth’s water, and represent 99% of the planet’s living area.
Global Ocean Economy Valued at USD 1.5 trillion annually, projected to reach USD 3 trillion by 2030.
Ocean Assets (Natural Capital) Estimated at USD 24 trillion.

India’s draft blue economy policy

The Ministry of Earth Sciences (MoES) is in the process of finalizing India’s National Policy on Blue Economy, aiming for the sustainable development of coastal areas through optimal utilization of maritime resources. 

A draft policy framework has been prepared, covering various sectors such as living and non-living resources, tourism, ocean energy, fisheries, and infrastructure. The framework emphasizes key areas like coastal spatial planning, marine governance, trade, technology, skill development, logistics, and offshore energy. 

It also proposes the establishment of the National Blue Economy Advisory Council (BEAC), comprising secretaries from relevant ministries and representatives from coastal states and industries. The draft was shared for public feedback, leading to valuable revisions. 

Additionally, a 75-day coastal clean-up campaign, “Swachh Sagar, Surakshit Sagar,” was launched on July 5, 2022, to clean at least 75 beaches, culminating on International Coastal Clean-Up Day, September 17, 2022.Factors Influencing the Blue Economy.

Importance of Blue Economy

The Blue Economy is vital as it contributes significantly to coastal communities’ economic development and job creation. It promotes responsible resource management and addresses environmental issues such as pollution and overfishing. Several factors impact the success of the Blue Economy:

  1. Marine Biodiversity: Healthy ecosystems are essential for sustainable fisheries, microplastic pollution, the dumping of solid waste, and tourism.
  2. Global Climate Change: Rising temperatures and sea levels impact marine resources.
  3. Technological Advancements: Improved technology in ocean mapping, renewable energy, and pollution control supports growth.
  4. Government Policies: Supportive policies foster sustainable practices and international cooperation.
  5. Sea-based Terror Activities: These include terrorism, robbery, piracy, trafficking of drugs and humans, illegal arms trade, illegal trade of crude oil, smuggling of drugs, etc.
  6. Disasters: Blue Economy is negatively impacted by natural disasters, including Cyclones, hurricanes, Tsunamis, and typhoons. 
  7. Man-made Issues: These can be influenced by man-made issues, such as Oil spills, war, and aggression.

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Importance of Blue Economy to India

The Blue Economy is crucial for India, supporting fisheries, tourism, and maritime transport. It contributes to food security, boosts trade, and helps manage coastal ecosystems. The Blue Economy also supports India’s strategic ambitions in the Indo-Pacific region, providing avenues for defense and maritime security partnerships. Sustainable practices, can uplift coastal communities and drive socio-economic progress. Here are some of the Importance of Blue Economy to India:

  • Economic Growth: Supports fisheries, tourism, and transport sectors, driving GDP growth.
  • Food Security: Provides essential resources through sustainable fisheries and aquaculture.
  • Trade Boost: Enhances trade efficiency with developed ports and shipping.
  • Coastal Ecosystems: Aids in managing and conserving coastal biodiversity.
  • Strategic Ambitions: Strengthens India’s position in the Indo-Pacific with maritime security partnerships.
  • Community Upliftment: Offers socio-economic benefits for coastal communities through sustainable practices.

Initiatives to Promote Blue Economy in India

  1. India has implemented a series of programs to advance its Blue Economy through sustainable development and efficient use of marine resources. These initiatives focus on port modernization, coastal management, sustainable fishing, and research on marine biodiversity. Here’s an overview of some major projects and their goals:

Initiative Description
Sagarmala Project
  • Focuses on reducing logistics costs and boosting export-import trade through new port development, port-linked industrialization, and improved port connectivity.
Deep Ocean Mission
  • Aims to explore and harness deep-sea resources, develop technology for sustainable extraction, and create awareness on ocean sciences.
O-SMART
  • Promotes ocean research, technological innovation, and establishes early warning systems for oceanic phenomena.
Integrated Coastal Zone Management Project
  • Strengthens coastal management capacity in states like Gujarat, Odisha, and West Bengal, focusing on sustainable coastal development.
India-Norway Task Force on Blue Economy
  • A collaboration with Norway to foster sustainable marine practices, aligned with India’s Vision for New India by 2030.
National Fisheries Policy – 2020
  • Integrates policies for inland fisheries, marine fisheries, and mariculture, providing a comprehensive framework for India’s fisheries sector.
Pradhan Mantri Matsya Sampada Yojana
  • Dedicated to fisheries development, introduced as part of the Atmanirbhar Bharat package for COVID-19 relief.
NavIC (Navigation with Indian Constellation)
  • Provides navigation and ocean-based positioning services, supporting maritime operations and safety.
Mining of Polymetallic Nodules
  • India has obtained permission for deep-sea mining of polymetallic nodules in the Central Indian Ocean Region, leveraging ocean resources for economic benefit.
Swachh Sagar, Surakshit Sagar Campaign
  • A cleanup initiative targeting 75 beaches in India to promote coastal cleanliness and sustainable tourism.

Challenges Associated with Blue Economy

These initiatives enhance economic growth while protecting marine ecosystems and fostering job creation in coastal regions. However, there are some challenges associated with the Blue Economy. Some of the challenges faced are:

  1. Environmental Degradation: Pollution, overfishing, and habitat destruction harm marine ecosystems.
  2. Climate Change: Rising sea levels and ocean acidification impact resources and biodiversity.
  3. Regulatory Challenges: Ensuring compliance with environmental regulations can be challenging, especially in international waters.
  4. Resource Scarcity: Unsustainable resource exploitation leads to scarcity, threatening the economy.

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Blue Economy 2.0

Blue Economy 2.0 is a new initiative introduced by the Indian government in the Interim Budget 2024 to promote sustainable development and resilience in India’s coastal and marine sectors. This expanded approach emphasizes climate-friendly practices in aquaculture, mariculture, and coastal ecosystem restoration. Central to the Blue Economy 2.0 is fostering activities that protect marine biodiversity, develop renewable ocean energy, and provide economic benefits for coastal communities.

The initiative’s components include:

  • Coastal Ecosystem Restoration: Involves restoring degraded ecosystems, such as mangroves and coral reefs, using both natural and artificial interventions. Adaptation measures aim to protect coastal areas from rising sea levels, erosion, and extreme weather.
  • Expansion of Aquaculture and Mariculture: This project focuses on promoting sustainable farming of marine species (like shrimp, seaweed, and high-value fish) within India’s Exclusive Economic Zone (EEZ) through advanced technologies and sustainable practices.
  • Integrated Multi-Sectoral Approach: Encourages collaboration across industries such as tourism, renewable energy, and marine biotechnology to maximize ocean resource use responsibly. It includes data-driven planning using geospatial mapping and ocean observation technologies​

Blue Economy UPSC

The Blue Economy UPSC is a vital topic in UPSC due to its relevance to India’s economy, international relations, and environmental policies. The UPSC exam may cover aspects like India’s Blue Economy policy, maritime security, international collaborations, and environmental initiatives, making it essential for aspirants to understand the significance and implications of this concept in national development and sustainable growth. Question asked about Blue Economy in UPSC:

Attempt UPSC Mains Question: 

Q. “Blue economy presents a new sphere of economic activities with great potential”. In light of this statement discuss the significance and list the steps taken by India to promote the blue economy. (250 Words) | GS Paper 1 | Geography

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FAQs on Blue Economy

The Blue Economy promotes sustainable use of ocean resources to support economic growth, improve livelihoods, and protect ocean health.

The Blue Economy supports sectors like fisheries, tourism, and maritime trade, providing economic opportunities and enhancing food security in coastal communities.

India has launched the Sagarmala Project, National Fisheries Policy, and Ocean Mission to boost economic growth while ensuring sustainable practices.

Climate change leads to rising sea levels, ocean acidification, and loss of biodiversity, which affects marine resources and economies dependent on them.

Key challenges include environmental degradation, regulatory issues, overfishing, and climate change impacts.
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 Final Result – CIVIL SERVICES EXAMINATION, 2023.   Udaan-Prelims Wallah ( Static ) booklets 2024 released both in english and hindi : Download from Here!     Download UPSC Mains 2023 Question Papers PDF  Free Initiative links -1) Download Prahaar 3.0 for Mains Current Affairs PDF both in English and Hindi 2) Daily Main Answer Writing  , 3) Daily Current Affairs , Editorial Analysis and quiz ,  4) PDF Downloads  UPSC Prelims 2023 Trend Analysis cut-off and answer key

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Comprehensive coverage with a concise format
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Designed as per recent trends of Prelims questions
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