SUSTAINABLE BLUE ECONOMY IN INDIAN CONTEXT
Creators
- 1. Asst. Professor, Department of Commerce, PES College of Science, Arts and Commerce, M.C. Road, Mandya, Karnataka
Description
India has registered an impressive growth in the last two decades. Its rapid economic growth has also exposed to environmental challenges. The conflict between economic development of the country and environment always exists. Any economic development to be sustainable, it has to be socially inclusive and environmentally viable. Oceans, seas and coastal areas’ are immense for national development and it is associated with the blue economy. Oceans are playing an important role in economic growth. Sustainable blue economy is not to focus only on any one of the three aspects of economic growth, environmental protection or social inclusiveness, but it is the combination of all the three aspects into the one integrated aspect. However, over fishing, pollution and unattainable coastal development are contributing to climate change, significantly increasing environmental risks and ecological damage. Sustainable blue economy paradigm not only emphasized upon the preserving and rebuilding of marine resources, rather it advocates higher use of precious oceanic resources which leads to economic growth and social equity of the country. The urgency of the ocean health challenge is becoming more prominent in the global policy discourse. For achieving sustainable blue economy, will require a significant paradigm shift throughout the whole society and needs across cooperation among countries and engagement from business, policy makers, researchers, scientists, media etc,. Against this backdrop the present paper synthesis of sustainable development goals, various conceptual and methodological issues relating to blue economy, importance of the blue economy and blue economy initiatives in the Indian context.