Why in the news?

  • The Indian Ocean’s importance with respect to the Blue economy is rising.

Blue Economy

  • What is it?: Blue Economy refers to the sustainable use of ocean and coastal resources for economic growth, improved livelihoods, and jobs, while preserving the health of marine and coastal ecosystems.
  • Objectives:
    • Promote sustainable economic growth from marine resources and ensure livelihood security for coastal communities
    • Maintain marine biodiversity and ecosystem services
    • Strengthen maritime security and resilience
    • Support climate change mitigation and adaptation
  • Principles of Blue Economy:
    • Sustainability: Resource use within ecological limits
    • Inclusivity: Benefits for coastal and island communities
    • Innovation: Blue technologies and data-driven governance
    • Resilience: Climate-proofing coasts and ocean economies
    • Integrated Governance: Land–sea interface management
  • Importance of Blue Economy:
    • Oceans cover ~71% of Earth’s surface and support global trade, food security, and climate regulation.
    • Contributes to Employment generation, Energy transition, Food and nutrition security and Carbon sequestration.
  • India and Blue Economy:
    • India has a 7,500 km coastline, 2.4 million sq km EEZ, and island territories.
    • Key Initiatives such as- Sagarmala Programme, Deep Ocean Mission, Pradhan Mantri Matsya Sampada Yojana (PMMSY) and National Coastal Mission.
  • Challenges Faced:
    • Overfishing and resource depletion
    • Marine pollution (plastics, oil spills)
    • Climate impacts: sea-level rise, coral bleaching
    • Weak regulatory enforcement and Limited marine data and technology access
  • Way Forward:
    • Strengthen marine spatial planning
    • Promote sustainable fishing practices
    • Invest in blue innovation and research
    • Enhance regional and global cooperation
    • Empower coastal communities through skills and finance

Source: The Hindu