1) What is Blue Economy?
The concept of the Blue Economy was introduced by Gunter Pauli in his book "The Blue Economy: 10 years, 100 innovations and 100 million jobs". Potential things humans obtain from the ocean and sea that boost the nation's economy are known as the blue economy. The resources present in the ocean and seas are used in economic growth, improve human well-being, reduce environmental hazards, and create sustainable jobs that are rightly called the blue economy. With rapid changes in time, the economy is also growing. Blue is just like the sea; Blue is like the sky. It's a way to develop the coastal and marine economy. European Commission defines it as "All economic activities related to oceans, seas, and coast".
Let's have a look at the benefits of the Blue economy.
It is based on sustainable fisheries.
Harnesses renewable energy.
Takes action against illegal fishing.
Creates jobs, reduces poverty, and ends hunger.
Conserves marine life and oceans.
It Tackles marine litter and ocean pollution.
Is inclusive and improves the lives of all.
Uses smart shipping to lessen the impacts on the environment.
2) What is the national policy on Blue Economy?
The government of India has its vision for 2030, which includes the ten most important dimensions. The Union minister of space, science, and technology has said that the union ministry of earth sciences is finalizing the blue economy for the country.
The main principle of this policy is to utilize oceanic resources at an optimum level and use the living and non-living reserves or, let’s say, potential things we receive from the ocean that will lead to the nation’s economic growth.
The thematic areas of this policy are as follows:-
A framework of national accounting is prepared to get a fundamental idea of a nation’s economy. The policy document intends to contribute the blue economy to India’s GDP. It also looks into improving the lives of coastal communities, preserving marine biodiversity, and maintaining the national security of marine areas and resources. India’s vast coastline and unique maritime position are helpful for the blue economy. It enhances marine fisheries, aquaculture, and fish processing. It helps in manufacturing and to emerge the oceanic related industries and factories, which develops the technological services and increases trade, logistics, infrastructure, and shipping, including trans-shipments.
Coastal and deep-sea mining and offshore energy. Security, strategic dimensions, and international engagement are all effective policies of the nation on the blue economy. Now the question arises what do these policies mean to India?
3) What does it mean for the environment (India)?
After initiating the policies on the blue economy, positive results have been witnessed. Let's take a recent example. This pandemic has lost many livelihoods. In this condition, it became important to recover the nation's economy and blue oceanic potential. Because of India's large coastline, it was an opportunity to tackle unemployment, food, security, and poverty. The blue economy aims to progress human well-being and social wealth, decreasing environmental risks. The blue economy provides the protection and advancement of more intangible blue resources. India's blue economy framework also provides the right agenda for all stakeholders to explore opportunities and invest in these sectors for long-term gains. The coastal states like Karnataka, Tamil Nadu, and Kerala have been rapidly growing in marine tourism over the past few years. The employment opportunities in this sector have increased by 23%. The blue economy has played a significant role in favourable environmental changes and the nation's economic growth.