Harnessing the Blue Economy: India's Path to Sustainable Marine Resource Utilization and Economic Growth

Siddhant Naresh Pathak; Vatsal Vyas

doi:10.36948/ijfmr.2024.v06i06.32176

Harnessing the Blue Economy: India's Path to Sustainable Marine Resource Utilization and Economic Growth

Author(s)	Siddhant Naresh Pathak, Vatsal Vyas
Country	India
Abstract	Blue Economy has introduced a completely new array of opportunities for India to expand upon its economy while having keeping an eye on the sustainability of its marine resources. It also helps that this idea implements perfectly with the strategic positioning of the coastline. India’s potential to increase its economic growth with the help of Blue Economy through various policies which could be implemented into its economic framework. India has even taken steps to promote this with various projects like the Sagar Mala Project or the Deep Ocean mission. The main focus right now should be based on the process of upgrading the infrastructure related to port, upgrading marine technology while also focusing and promoting sustainable aquafarming and preservation of marine resources. In simple words it strives to create of balance of both the economic growth as well the conservation of the aquatic resources and marine life. Marine sectors require investments but in return it will certainly lead to the boost in India’s GDP as it will lead to the many benefits like creating major job benefits, and it will improve the lifestyle of coastal communities. However, with such ambition the implementation of these policies remains a huge challenge, it requires more than just discussing policies it requires complete involvement from both the Government and the community. Overall, if India uses its tactically perfect positioning in terms of blue economy it could become of the biggest blue economic models in the world. India’s blue economy could contribute hugely to both the Nation and global efforts to spread the message of economic growth along with the preservation of the ocean life.
Keywords	Inroduction, Policies and legal framework, Importance of conservation and sustainability
Published In	Volume 6, Issue 6, November-December 2024
Published On	2024-12-01
Cite This	Harnessing the Blue Economy: India's Path to Sustainable Marine Resource Utilization and Economic Growth - Siddhant Naresh Pathak, Vatsal Vyas - IJFMR Volume 6, Issue 6, November-December 2024. DOI 10.36948/ijfmr.2024.v06i06.32176
DOI	https://doi.org/10.36948/ijfmr.2024.v06i06.32176
Short DOI	https://doi.org/g8tgqb

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Harnessing the Blue Economy: India's Path to Sustainable Marine Resource Utilization and Economic Growth

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