Towards Blue economy(The Hindu)

• Mains Paper 3:Economy 
• Prelims level: Blue Economy
• Mains level: Significance of Blue Economy

Context:

• The concept of blue economy was given by Gunter Pauli. It is the sustainable use of ocean resources for economic growth, improved livelihoods and jobs and ocean ecosystem health. 
• Thus, it advocates the greening of ocean development for purposes of higher productivity and at same time conserving ocean's health.

The oceans are the sources for various resources such as follows:

• Oceans contain several varieties of fishes and sea weeds that have tremendous potential to be used for industrial and human activities.
• Minerals derived from the oceans include Petroleum gas, shale gas, Magnesium, Sulphur, Poly-metallic nodules that are useful for industrial usage.
• Maritime Transport constitute over 80% of international trade and commerce.
• Ocean and coastal tourism are important source for job creation and economic growth.
• Tides in ocean release a lot of renewable energy that can be used to operate a turbine and produce electricity. For ex.-

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Importance of blue economy for India:

• Blue economy presents India with an opportunity to meet its national socio-economic objectives as well as strengthen connectivity with neighbours.
• Blue Economy can help in livelihood generation, achieving energy security, building ecological resilience and improving living standards of coastal communities.
• Blue economy can reinforce and strengthen efforts of Indian government to achieve the SDGs of hunger and poverty eradication by 2030.
• Further, marine services sector could serve as the backbone of Indian economy and help it become 10 trillion-dollar economy by 2022.

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Conclusion: 

• Thus, India and world as a whole should look to adopt the Gandhian approach of balancing economic benefits derived from blue economy for meeting the broader goals of growth, employment generation, equity and protection of environment.

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General Studies Pre. Cum Mains Study Materials

Prelims Questions:

Q.1)With reference to the Mahatma Gandhi National Fellowship programme, consider the following statements:
1. The Union Minister for Skill Development launched the Mahatma Gandhi National Fellowship programme in the Indian Institute of Management (IIM), Bengaluru.
2. The Fellowship is launched as part of the SANKALP programme of the Ministry for Skill Development to provide skilled manpower for District Skill Committees to prepare the District Skill Development plan. 
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Answer: ..................................

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Mains Questions:
Q.1) Oceans are the major sources for multiple living and non-living resources that are useful for the growth of blue economy. In this light discuss the concept of Blue economy and its importance for India.