Jan 2020

ARTICLE
Blue Economy’s Role in
Economic Development
The blue economy
is the, sustainable
use of
ocean resources
for economic
growth, improved
livelihoods, and
jobs while preserving
the health of
ocean ecosystem.
It is a Concept
which encourages
better management
of our ocean
Dr. Kannan R
and blue resources.
Blue economy
also includes benefits , such as carbon storage, coastal
protection, cultural values and biodiversity.
The concept of Blue Economy covers, Port development,
Port based Industrial Development, City development,
Cluster development, Fisheries, Education
and Research, Shipping, Oil and Gas Extraction, Aquaculture,
Coastal Development, Tourism, Marine bio
tech, Renewable energy, waste disposal, environment
protection and maritime security, Ship building , Ship
breaking and Ship repairing.
Blue Economy plays a major role in economic development
of a country. When we discuss the development
of blue Economy , it becomes very relevant in the Indian
Context. Prime Minister set a vision of achieving $ 5
trillion GDP within a short period of time. Blue Economy
can contribute to $ 1 trillion of GDP . We can have Blue
Economy Vision of $ 1 tillion. Lot of initiatives are being
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