Inter-Ministerial Workshop on Blue Economy by MoES

Summary and Important Points:

1. Workshop Overview

• Host: Ministry of Earth Sciences (MoES).

• Participants: Experts from the World Bank, various ministries, Niti Aayog, and R&D organizations.

• Focus: Consultation on the Blue Economy Pathways study report.

2. Report Preparation and Objectives

• Collaboration: With the World Bank for a technical study.

• Title: ‘India’s Blue Economy: Pathways for resource-efficient, inclusive, and resilient growth in India’.

• Areas Covered: Best practices, ocean accounting, institutional strengthening, and finance mechanisms.

3. Blue Economy Significance

• Goals: Economic growth, well-being, sustainability, and socio-economic welfare.

• Impact: Improvement of coastal communities' lives, marine ecosystem preservation, and marine area security.

4. India’s Maritime Context

• Geography: Extensive coastline and Exclusive Economic Zone (EEZ).

• Economy: Supports millions of fisherfolk and coastal communities.

5. Strategic and Economic Potential

• Vision: High-growth economy with significant maritime role.

• Resources: Exploration and optimal harnessing of marine resources.

Additional Information

• Blue Economy: Integration of economic development and sustainability in marine and coastal areas.

• Sustainable Development Goals (SDGs): United Nations’ global goals aiming for sustainable and inclusive growth.

• 7,517 km long coastline and Exclusive Economic Zone (EEZ) of over two million square km. Coastal economy sustains over 4 million fisherfolk and other coastal communities

Examination Perspective and Concise Points for Use

• Maritime Economy: Understanding the scope and importance of Blue Economy for national development.

• Sustainability and Development: Role of sustainable marine resource utilization in achieving economic and environmental goals.

• Policy Making and Strategic Planning: Importance of inter-ministerial collaboration and international partnerships in shaping maritime policy.

Key Words to Remember

• Blue Economy

• Ministry of Earth Sciences

• Sustainable Development

• Maritime Resources

• Economic Growth

Link to Article : Press Information Bureau (pib.gov.in)

Release On : 22 March 2024