In the name of long-term sustainability, India’s Blue Economy 2.0 initiative is a game changer in leveraging the ocean’s resources. Introduced in India’s interim budget of 2024, this initiative represents a step forward towards incorporating sustainable practices with economic growth along Indian coastal and marine areas.

What Is Blue Economy 2.0?

At its heart, the blue economy 2.0 govt scheme is about making oceanic and coastal resources more sustainable. The initiative is consistent with SDG-14, which calls for the conservation and sustainable use of our oceans, seas, and marine resources for sustainable development. It encompasses diverse activities such as shipping, fisheries, tourism and energy that promote environmental sustainability in addition to economic growth.

Why Focus On Blue Economy 2.0?

India’s strategic location with over 7,500 km long coastline and exclusive economic zone (EEZ) covering more than 2.2 million square kilometres signifies the potentiality and need for a robust Blue Economy 2.0 India.

Besides aiming at enhancing economic growth through it, this initiative also looks at pressing needs for climate change resilience/restoration plans due to climate change effects and maritime pollution.

Key Components Of Blue Economy 2.0

Restoration & Adaptation: The program primarily targets restoration of degraded coastal ecosystems as well as adaptation measures to mitigate climate change impacts like increased sea level rise or occurrence of extreme weather events such as hurricanes or typhoons. These actions are key for conserving biodiversity and supporting livelihoods among coastal dwellers.

Coastal Aquaculture & Mariculture Expansion: Also an area of interest under the blue economy budget 2024 is scaling up sustainable aquaculture practices. This expansion seeks to address a growing demand for seafood products while reducing pressures on fish stocks sourced from wild capture fisheries thus creating opportunities for local communities.

Integrated Multi-Sectoral Approach: The Indian Blue Economy Plan cannot be restricted within one government department alone. Taking the cue, blue economy 2.0 has adopted a comprehensive approach which involves partnership with various government departments, industry and civil society. Such collaboration is vital for the sustainable development of the coastal areas.

Government Initiatives Supporting Blue Economy 2.0

Some government projects are in line with Blue Economy 2.0 and support its objectives. These include

• Deep Ocean Mission,

• Sagarmala project,

• O-SMART,

• Integrated Coastal Zone Management,

• NavIC, and

• India-Norway Task Force

on Blue Economy for Sustainable Development as well as others that collectively beef up India’s marine management capacity.

The Future of Blue Economy 2.0

The blue economy 2.0 kya hai is set to redefine how Indian coastlines and marine resources are managed and exploited in future. With the global ocean economy expected to double by 2030, India’s focused approach could become a model for sustainable marine economic practices around the world.

For more insights and continuous updates on Blue Economy 2.0, you can visit the official government site.