(GIST OF YOJANA) BLUE ECONOMY

(APRIL-2024)

BLUE ECONOMY

The blue economy encompasses a diverse range of activities that are critical for sustainable development.

1. Renewable Energy: Sustainable marine energy, such as offshore wind and wave energy, plays a vital role in promoting social and economic development while reducing reliance on non- renewable energy sources.

2. Fisheries: Sustainable fisheries management is essential for generating more revenue, ensuring a continuous supply offish, and contributing to the restoration of fish stocks, thus supporting both economic and environmental goals.

3. Maritime Transport: With over 80% of international goods being transported by sea, maritime transport is a cornerstone of the global economy, connecting nations and facilitating trade.

4. Tourism: Ocean and coastal tourism not only offer recreational opportunities but also contribute to job creation and economic growth, making it a key component of the blue economy.

5. Climate Change: Oceans act as crucial carbon sinks, absorbing and storing carbon dioxide, a phenomenon known as ‘blue carbon.’ This role helps mitigate climate change by reducing greenhouse gas concentrations in the atmosphere.

6. Waste Management: Effective waste management on land is integral to the health of oceans. Proper waste disposal practices prevent pollution, marine debris, and environmental degradation, fostering ocean recovery.

Source of Employment in the Blue Economy

Traditional Sectors

Fishing and Aquaculture: Traditional sectors like fishing, aquaculture, and fish processing have been significant sources of employment in the blue economy for many decades. The sector is evolving from subsistence farming to commercial practices, such as aquaculture, requiring a skilled workforce.

Marine Tourism: Marine tourism, including activities like cruise travel, boating, scuba diving, and more, contributes to employment and economic growth in coastal regions. Coastal tourism is a vibrant segment of the blue economy, supporting jobs in hospitality, transportation, and various tourism-related services.

Shipping and Ports: Sea ports are major sources of employment, with jobs in smaller ports increasing over the years. The growth in the logistics sector, driven by industrial demand, emphasises the increasing role of ports in future employment.

Shipbuilding: The shipbuilding industry in India holds significant potential and employs individuals with diverse skills. Indigenisation and self-reliance in the industry could further contribute to employment generation.

Offshore Wind and Marine Biology: Emerging sectors like offshore wind and marine biology provide new employment opportunities. The move towards sustainability in shipbuilding involves using recyclable or biodegradable materials, ensuring energy and resource efficiency.

Skill Development Initiatives: The blue economy has the potential to engage a large workforce and has been doing so for the past many decades, at least in traditional sectors such as fishing, aquaculture, fish processing, marine tourism, shipping, and port activities. Now, engagement in new sectors such as offshore wind, marine biology, biotechnology, and other activities like shipbuilding and shipbreaking is also gaining extensive traction.

Conclusion:

Blue economy, spanning traditional and emerging sectors, offers diverse employment opportunities. From traditional fishing practices to innovative sectors like offshore wind and marine biology, the blue economy is evolving. Skill development initiatives, youth involvement, and the preservation of traditional knowledge are integral to harnessing the full potential of the blue economy and ensuring prosperity for all.