13/2/2016 576 Economic Affairs | Ocean Research | View Recent Current Affairs
| Topic Map
|What is news (or concern): PM emphasis on integration of blue economy
|What is Blue Economy: Blue Economy is integration of Ocean Economy development with the principles of Social Inclusion,Environmental Sustainability and Innovative and dynamic business models
|Why Blue economy
1. For the development of trade and commerce
2. Providing a boost to coastal and national economies
3. Generating new employment, skill-sets and capacities
4. Contributing to sustainable development and climate change mitigation
|Concerns(Indian ocean specific)
1. China initiative of one belt, one road may pose security threats to India
2. This region could be a place for possible cold war between China and US.
|About International Fleet Review:
1. International Military Exercise hosted by Indian Navy on behalf of President of India
2. Its theme goes by the name – “United Through Ocean”.
Objective is to enhance mutual trust and confidence by inviting the navies of neighbouring countries to participate in the event.
- Blue Economy, a term which is recently used by PM of India at the IFR or International Fleet Review to press that India should prepare its cadre of Blue Economy.
- “Blue economy” term was coined by Gunter Pauli in his book, “The Blue Economy: 10 Years, 100 Innovations, and 100 Million Jobs.
- Blue Economy is integration of Ocean Economy development with the principles of: a) Social Inclusion b) Environmental Sustainability and c) Innovative and dynamic business models.
- This is founded on the basis of Systems Approach where by organic and renewable inputs are fed into sustainably designed systems to fuel “blue growth”.
- Blue growth solves the problem of resource scarcity and waste disposal at the same time delivers sustainable development thus enhancing human development in a wholistic manner.
- The oceans, which have always been a source of livelihood, trade, colonialism, storms and piracy, present opportunities and challenges. Professionals connected with the oceans, including the negotiators of the UN Convention on the Law of the Sea (UNCLOS), have been prominent since the 1980s.
- In September 2015, the Indian Ocean Rim Association (IORA) hosted the first Ministerial Blue Economy Conference and identified priorities. Goal 14 of the UN’s Sustainable Development Goals (SDGs) — “Conserve and sustainably use the oceans, seas and marine resources for sustainable development” — makes detailed references to the reduction of marine pollution, conservation of coastal and marine areas and regulated fish harvest.
- Indian Ocean Region is a promising region to propagate blue growth.
- It is pre-eminent seaway for trade and commerce and is endowed with natural resources which are largely untapped.
- It can play a promising role in blue growth in following manner: a) Providing a boost to coastal and national economies; b) Generating new employment, skill-sets and capacities; c) Promoting entrepreneurship in new areas of economic activity;d) Facilitating the interconnectedness of the regional economy; e) Utilising the vast, untapped potential of the Indian Ocean ; f) Contributing to sustainable development and climate change mitigation
- The Indian Ocean Region will be helpful developing members of IORA as blue economy.
- IORA member states will be benefited by Indian Ocean Region in their pursuit of Blue Economy in following ways: a) Fisheries and aquaculture; b) Renewable ocean energy; c) Seaports and shipping; d) Seabed explorations and minerals; e) Marine biotechnology and R&D; f) Tourism; g) Ocean Knowledge Clusters; h) SIDS(Small Island Development States) and LDCs.
- The US rebalancing of forces and counter-measures by China have created a new cold war
- But this region is also posing some concerns to India. The Chinese initiative — one belt, one road— is a $150 billion grandiose development strategy and framework for China to push for a bigger role in global affairs and to increase its exports. Some see it as an opportunity for India, others as a challenge. The choice has to be made cautiously, balancing our security concerns about an expanding China with economic engagement.
- The convergences in the IORA and SDG agendas have to be developed into action. India’s neighbourhood policy assumes primary importance in light of the blue economy. India can profitably integrate its ongoing programmes like Make in India, smart cities, skill development and self-reliance in defence. Delhi’s forthcoming chairmanship of the BRICS will offer a splendid opportunity to highlight the cooperation needed for the blue economy