Blue Economy Example: New horizons: India and Blue Economy 2.0

India’s first Draft National Policy on Blue Economy was launched in 2021. The Ministry of Earth Sciences (MoES) released this draft policy with the distinct aim of integrating the Blue Economy into India’s overall economic development framework. It emphasized sectors such as fisheries, aquaculture, renewable energy, tourism, deep-sea mining, and marine biotechnology. As with many nations, however, such aspirations face multiple challenges, including marine pollution, overfishing, climate change, rising sea levels, and gaps in infrastructure and capacity.

India's Blue Economy 2.0 – announced in the Interim Budget of 2024–25 – is an attempt to bring new impetus to its endeavours. It is an example of how the Blue Economy is maturing, as nations and their stakeholders look to consolidate and catalyse further impact. While there is still much to do, the stated aspirations of India’s Blue Economy 2.0 can be viewed below.

Aspect Previous Blue Economy Efforts Blue Economy 2.0
Scope and Integration Focused on specific sectors like fisheries, ports, and shipping. Holistic and multi-sectoral approach that attempts to integrate fisheries, tourism, energy, and transportation.
Technology Adoption Limited emphasis on advanced technology. Leverages AI, IoT, GIS, and satellite monitoring for marine management and data-driven decision-making.
Infrastructure Development Basic infrastructure for fisheries and shipping. Proposes integrated aquaparks to enhance aquaculture and create hubs for sustainable practices.
Climate Resilience Implicit focus on climate adaptation through fisheries and coastal protection. Explicit emphasis on climate resilience, including restoring degraded marine ecosystems and addressing rising sea levels.
Economic Focus Economic growth with moderate emphasis on sustainability. Prioritizes economic growth while embedding sustainability in all sectors.
Community Involvement Minimal direct engagement with local communities. Actively supports coastal communities, improving livelihoods and resilience against climate impacts.
Policy Alignment Disconnected sectoral policies. Promotes integrated policy frameworks aligned with international standards like the UN’s SDG 14 (Life Below Water).
Marine Biodiversity Limited initiatives for conservation. Greater focus on marine conservation, restoring biodiversity, and developing eco-tourism.
Renewable Energy Initial focus on offshore wind. Expands to include wave and tidal energy to diversify the energy portfolio.
Investment Strategies Limited public and private investment mechanisms. Encourages public-private partnerships and sustainable financing like blue bonds.

While many industry analysts broadly welcomed the promotion of the Blue Economy 2.0 initiative as a forward-thinking approach to sustainable maritime development in India, stakeholders also advocated for careful implementation to balance economic growth with environmental preservation. Experts continue to highlight challenges such as the need for robust regulatory frameworks, effective inter-departmental coordination and active participation from local communities to ensure the success of Blue Economy 2.0.

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