Advancing blue economy through sustainable management and utilization of ocean’s resources can be a shot in the Indian economy’s arm. Discuss.
Answer: Blue economy is all about economic activities dependent on marine resources. The concept is envisaged as the integration of Ocean Economy development with the principles of social inclusion, environmental sustainability through innovative, dynamic business models.
India boasts a vast and open coastline of almost 7,500 kilometres and is close to important international sea lanes of communication. Sustainable management of ocean based resources can help in boosting the economy of the country in general and of coastal states in particular.
Significance of Blue Economy for Economic Growth
- Sea Borne Trade: Blue Economy remains a critical aspect of India’s economic ....
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