The blue economy in India encompasses various sectors such as fisheries, ports, tourism, and marine technology, contributing to the country’s growth, employment, and sustainable coastal development. The fishing industry is a significant component of the blue economy, with India producing 175.45 lakh tonnes of fish in FY 2022-23 and earning ₹60,523.89 crore from seafood exports in FY 2023-24. The government has implemented schemes to modernize the fishing sector, including the construction of cold storage facilities, modern boats, and processing units.
In addition to fisheries, India’s ports and shipping industry play a vital role in the country’s economy, with nearly 95% of cargo being transported through seaports. The Sagarmala project aims to enhance port connectivity, port-led industrialization, and waterways, which will reduce logistics costs and strengthen India’s position as a global maritime hub. The marine logistics sector, including shipbuilding and port services, creates jobs in coastal states and contributes to the blue economy.
Coastal tourism is another significant sector, with states like Goa, Kerala, and Gujarat attracting tourists to their beaches, mangroves, and heritage sites. The government is promoting sustainable coastal tourism, including the conservation of coral reefs and mangroves, which not only protects the shores from storms but also sequesters carbon. The National Coastal Mission has been established to fund conservation efforts and promote eco-tourism.
India is also exploring the potential of marine energy and technology, including offshore wind projects, wave energy, and Ocean Thermal Energy Conversion (OTEC). The National Institute of Ocean Technology (NIOT) is conducting research on these initiatives, which could power coastal areas and provide desalination plants. The government has also approved the Deep Ocean Mission, with an estimated outlay of ₹4,077 crore over five years, to support research, technology development, and exploration of deep-sea resources and biodiversity.
Overall, India’s blue economy has the potential to drive growth, create jobs, and promote sustainable coastal development. With the government’s support and investment in various sectors, including fisheries, ports, tourism, and marine technology, India is poised to become a significant player in the global blue economy. The focus on sustainability and conservation will ensure that the blue economy benefits not only the economy but also the environment and local communities.