India has an expansive 7,500 km coastline (encompassing both mainland and islands) with about 14 million people engaged in fisheries and allied activities in terms of livelihoods and adapting to the adverse impacts of climate change.
Numerous schemes and policies are being implemented for the sector’s future. However, concerns persist regarding potential maladaptation resulting from misguided adaptation measures.
Maladaptation, defined by the Intergovernmental Panel on Climate Change (IPCC) as โchanges in natural or human systems that inadvertently increase vulnerability to climate stimuli,โ denotes an inadvertent increase in the impacts of climate change on communities.
Blue Economy 2.0 is a new scheme โfor restoration and adaptation measures, coastal aquaculture, and mariculture with an integrated and multi-sectoral approachโ also intending to tap into the issue of maladaptation.
Blue Economy and Blue Economy 2.0
The Blue Economy refers to the sustainable use and conservation of ocean and marine resources for economic growth, improved livelihoods, and job creation. It encompasses diverse sectors like fisheries, tourism, shipping, offshore energy, and biotechnology.
With the oceans facing unprecedented threats from climate change, pollution, and unsustainable exploitation, there is an urgent need to transition to a Blue Economy model that balances economic development with environmental sustainability.
Blue Economy 2.0 is a step ahead in this direction. Through its multi-pronged approach focused on restoration, adaptation, and expansion of mariculture and coastal aquaculture, the policy aims to promote climate-resilient and sustainable development in India’s coastal regions.
Why Does Blue Economy Matter for India?
Oceans cover three-fourths of the Earth’s surface and contain 97% of the planet’s water. They also represent 99% of the Earth’s living space and play an important role in regulating the global climate besides being a rich source of biodiversity and natural resources.
The global ocean economy currently generates over USD 1.5 trillion annually, making it the world’s seventh-largest economy. This is projected to double to USD 3 trillion by 2030 underscoring the vast scope for harnessing the blue economy.
For India, the stakes are even higher considering the country’s vast coastline, network of ports, vibrant maritime sector, and rich ocean biodiversity.
Some key aspects that highlight the importance of the blue economy for India are:
- Long coastline – With a coastline of 7,500 km and over 1200 islands, India has a massive ocean resource base waiting to be tapped sustainably.
- Vibrant ports sector – India has 12 major and over 200 minor ports that handle 95% of India’s trading by volume and 70% by value. The ports sector is poised for robust growth.
- Rich marine biodiversity – India’s EEZ has over 5,000 species of flora and fauna. Sustainably harnessing ocean resources can create livelihoods.
- Food and nutrition security – Oceans support over 4 million fishermen and fish production of 13 million tonnes annually in India. The blue economy is key for food security.
- Climate change mitigation – Oceans are the largest carbon sinks absorbing 25% of CO2 released into the atmosphere. Conserving blue carbon ecosystems like mangroves, and sea-grass meadows is important.
- Energy security – Offshore oil and gas, ocean energy, and offshore wind energy are integral to India’s energy security and transition to green energy.
- High growth potential – Studies estimate the Indian Ocean economy can grow at 15% annually to over USD 120 billion by 2025.
Key Components of Blue Economy 2.0
The goal of Blue Economy 2.0 is to encourage activities and development along coastlines that can withstand and adapt to climate change.
Marine environments are encountering immense threats from climate change, contamination, and excessive exploitation.
This highlights the need for collaborative efforts to protect ocean resources and strengthen their durability.
Key aspects of the Blue Economy 2.0 Policy are:
Coastal Ecosystem Restoration and Adaptation Measures
Restoring degraded coastal ecosystems like mangroves, coral reefs, and sea-grass meadows through natural and artificial interventions.
Implementing shoreline protection, beach nourishment, and other adaptation measures to mitigate rising sea levels, erosion, flooding, and extreme weather events.
Adopting disaster risk reduction strategies like early warning systems, and climate-proofing coastal infrastructure.
Conducting ecological assessments for judicious coastal zone planning balancing development needs with sustainability.
Expanding Coastal and Mariculture
Promoting the sustainable expansion of coastal aquaculture of shrimps, crabs, Mollusca, seaweed, etc. through productive interventions.
Expanding mariculture through farming of high-value marine fish like seabass, and groupers in open seas within EEZ.
Providing funding, tax incentives, and subsidies to fishermen, farmer cooperatives, and private firms for adopting sustainable coastal and mariculture practices.
Investing in R&D, technology incubation, and innovations in areas like offshore cage farming, sea ranching, and integrated multi-trophic aquaculture.
Integrated Planning and Multi-Sectoral Approach
Adopting a multi-sectoral approach with coordinated planning and action across shipping, ports, tourism, offshore energy, biotechnology, and security sectors related to oceans.
Mainstreaming blue economy across national and state policies, schemes, and developmental plans including marine spatial planning.
Fostering multi-stakeholder partnerships between different ministries, state governments, industry, and coastal communities.
Developing sustainability criteria, guidelines, and standards for the use of ocean resources across sectors.
Leveraging the latest technologies like geospatial mapping, ocean observation systems, communication networks, and big data analytics to support evidence-based planning and monitoring.
Why in the news?
The government in its Interim Budget 2024 highlighted the plans to promote Blue Economy 2.0. This will be done through a new program concentrated on restoration, adaptation, coastal aquaculture, and mariculture.
- This policy aimed at harnessing the vast potential of the country’s 7,500 km coastline and 2.2 million sq km Exclusive Economic Zone (EEZ).
- The specific details regarding the budget allocation for the scheme or the activities it would entail have not been revealed yet.
Way Forward
The Indian government recently announced the Blue Economy 2.0 policy in the budget. This policy aims to use India’s oceans and coastal areas to create economic growth sustainably.
To make this policy work, the government will need to get many groups to work together. These include state governments, businesses, science institutions, thinkers, and local coastal communities.
The government will need to provide enough money and incentives for people to use the oceans responsibly. New technologies can help monitor the oceans and coastal areas. This information can help plan and check that rules are followed.
India can learn from other countries about sustainable fishing, eco-tourism, and green ports. Partnering with international organizations can also provide useful insights.
If all groups work together responsibly, the Blue Economy 2.0 scheme can sustainably create jobs and growth. But it remains to be seen if this will happen. Overall, the scheme aims to use India’s vast oceans and coasts to benefit the economy while protecting the environment.
Article Written By: Priti Raj
Leave a Reply