Maharashtra Economic Development Council महाराष्ट्र आर्थिक विकास मंडळ

Tapping India's blue economy

28 FEB,2021 | MEDC

The coastline of India is around 7,500 km long, and investing adequately in it is essential for tapping the country’s vast blue economy potential. The government’s initiative to formulate a blue economy policy for the nation is welcome, even though it should have been in place long ago. Better late than never. India needs to measurably enhance the contribution of ocean-based activities to its GDP. The good news is that doing so is not difficult. Not only will it hugely benefit employment generation, but it will also enhance the nation’s food and nutrition security, as well as boost exports – a key factor enhancing India’s global economic competitiveness. The new policy needs to emphasize deep-sea fishing – an area where India has not traditionally ventured. This will, of course, necessitate a lot of strategic infrastructure development. It should also be stressed that marine biodiversity should not be destroyed in the quest for relentless economic growth. Any misadventure with marine ecology could prove costlier than the price being paid for taking the Himalayan geology for granted.

*Photo Credit: Google

Tapping India's blue economy

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