All Things Policy Harnessing Opportunities in the Blue Economy
May 30, 2023
In this discussion, Rajiv Bhatia, a distinguished fellow and blue economy expert, unpacks the vast potential of ocean resources for India's growth. He contrasts the blue economy with traditional practices and emphasizes sustainable development. Topics include the necessity for collaboration between government and private sectors, particularly engaging local fishing communities. Bhatia also highlights opportunities discussed at the G20 summit, advocating for proactive youth involvement in conservation and crucial policy shifts for effective resource management.
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Blue Economy Defined
- Blue Economy means using ocean resources sustainably to benefit economic growth and environment.
- It differs from ocean economy by embedding sustainability deeply into its core.
India's Maritime Importance
- India's maritime significance is central to its blue economy strategy, given its extensive coastline and island network.
- The draft National Policy on Blue Economy aims to harness this through multi-sector coordination.
India's Strategic Shift to Blue Economy
- India shifted from 'sea blindness' to emphasizing maritime strategy in the last 20 years.
- The government's draft blue economy policy integrates multiple ministries and plans dedicated funding.
