Blue economy occupies vital position in India's economic growth: CAG
Comptroller & Auditor General of India (CAG) G C Murmu has said that the blue economy occupies a vital position in India's economic growth and it could well be the next multiplier of GDP and well-being, provided sustainability and socio-economic welfare are kept at the centre stage. He noted that India has a 7,517 km long coastline that is home to nine coastal states and 1,382 islands. He also said the coastal economy sustains over 4 million fishermen and other coastal communities. There are nearly 199 ports, including 12 major ports that handle approximately 1,400 million tons of cargo each year.
Moreover, he said India’s Exclusive Economic Zone of over 2 million square kilometres has a bounty of living and non-living resources with significant recoverable resources such as crude oil and natural gas. With these vast maritime interests, the blue economy occupies a vital potential position in India’s economic growth. It could well be the next multiplier of GDP and well-being, provided sustainability and socio-economic welfare are kept at centre stage.
Highlighting the importance of blue economy, Murmu said that the blue economy economic system promotes the sustainable use of marine and freshwater resources while conserving their environments. It encompasses policies and operational dimensions aimed at producing food and energy, supporting livelihoods, and driving economic advancement and welfare. He emphasized that the Blue Economy while being intrinsically linked to the Sustainable Development Goal (SDG) 14 - which focuses on conserving and using oceans, seas, and marine resources for sustainable development -- shall also be viewed from a holistic perspective of SDG 13 - Climate Action; SDG 6 - Clean Water; SDG 7- Clean and Renewable Energy.
