Next Goal should be “Blue Economy”
The oceans, which have always been a source of livelihood, trade, colonialism, storms and piracy, present opportunities and challenges.
What is Blue Economy?
The newly set up Blue Economy Strategic Thought Forum India, under the auspices of the National Maritime Foundation defines the blue economy as “marine-based economic development that leads to improved human wellbeing and social equity, while significantly reducing environmental risks and ecological scarcities”.
The blue economy, as distinct from the blue-water economy, encompasses in it the “green economy”, with focus on the environment, and the “ocean economy” or “coastal economy”, with its emphasis on complementarities among coastal and island states for sustenance and sustainable development.
Advantage of Blue economy:
The central principle of the blue economy is the idea of cascading nutrients and energy the way ecosystems do. Cascading energy and nutrients leads to sustainability by reducing or eliminating inputs, such as energy, and eliminating waste and its cost, not just as pollution, but also as an efficient use of materials.
The book The Blue Economy: 10 Years — 10 Innovations —100 Million Jobs by Gunter Pauli, 2010,contains fascinating innovations to open a new world of production and lifestyle. These game-changing ideas will entice entrepreneurs. Surprisingly, these innovations have the potential to increase rather than shed jobs, as emulating natural systems will mean the deployment of humans rather than machines. Ideas like eliminating air in freezing water, use of food-grade ingredients as fire retardants, growing mushrooms with coffeeshop waste, silk as a replacement of titanium, electricity generated by walking and talking, etc, are mind-boggling.
Opportunities:
- Minerals: According to ISA (International Seabed Authority) there are vast reserves of Polymetalic Nodules,sulphides, cobalt rich ferro-mangeneze crust( rich in cobalt, bismuth, iron, lead, platinum). ISA has notified two major areas "clariton-clipperton fracture zone" (appx. 27 Billion tonnes of polymetallic nodules) and Central Indian Ocean Basin. India has already signed a contract and entered in the league with Japan,USA, China.
- Trade & Transshipment hub:: With huge coast line and peninsular shape, India has opportunity to expand its trade. Ocean route provide cheap and greener trade facility.The project like Sagarmala and Setu-Samundaram can transform india into a trans-shipment hub which would augment the foreign exchange earning.
- Geo-Political: The stronghold in Indian ocean help India balance geopolitical equation.
- Energy : Oceans are immense source of energy, India can meet its goal of sustainable development with shifting towards oceans.
- Tourism and Fishing : When whole world is looking towards oceans for food security and tourism India can spur the development of ports, Tourism Industry, Fishing industry to ensure livelihood for local people.
Maritime Mining and Laws:
The euphoria over marine mining (manganese nodules and cobalt crusts on the ocean floor) led to the establishment of the International Seabed Authority. The UNCLOS, the “constitution of the seas”, which came into force in 1994, became the basis for the legal rights for mining in the open sea. The interest in seabed mining flagged because of escalating costs, but it’s being revived on account of the demand for minerals and metals in industrial development, particularly in China, Japan and India.
Indian Ocean:
Today, India is working with the states in the Indian Ocean region and others to strengthen security and economic cooperation. The re-emergence of piracy has added a new dimension. The new focus on the Asia-Pacific highlights the security and economic dimensions. The US rebalancing of forces and counter-measures by China have created a new cold war. New partnerships are in the making in the Asia-Pacific, seeking Indian participation by competing powers. The blue waters of the Indian Ocean have become a new theatre of tension.
The blue-water economy will become central to the development of the entire region. Our competition with China is likely to be exacerbated by the competition for a piece of the blue economy, as evidenced in Bangladesh.
Recent conversations on Blue Economy
1. Both the traditional blue-water economy and the new blue economy are important for India’s sustainable development. Prime Minister Narendra Modi endorsed the blue economy during his visit to Seychelles, Mauritius and Sri Lanka.
2. PM Modi spoke of the blue economy to Saarc leaders. In September 2015, the Indian Ocean Rim Association (IORA) hosted the first Ministerial Blue Economy Conference and identified priorities
3. Goal 14 of the UN’s Sustainable Development Goals (SDGs) — “Conserve and sustainably use the oceans, seas and marine resources for sustainable development” — makes detailed references to the reduction of marine pollution, conservation of coastal and marine areas and regulated fish harvest.
India can profitably integrate its ongoing programmes like Make in India, smart cities, skill development and self-reliance in defence. Delhi’s forthcoming chairmanship of the BRICS will offer a splendid opportunity to highlight the cooperation needed for the blue economy.