As much as 95 per cent of India’s trade by volume and 68 per cent by value moves through the coastal routes highlighting the scope for blue economy, said Dr. Pandurang Raut (IRS), Deputy Director General of Shipping, Union Ministry of Shipping.
While speaking at the ASSOCHAM’s Conference on ‘Accelerating the Blue Economy Wave towards Viksit Bharat’, he said, “The Maritime Amritkal Vision 2046 released in 2023 is aimed at increasing the modernization of the ports, enhancing the port shipping infrastructure, and harvesting the maritime energy.”
“Under the Sagar Mala programme, around 81 projects along the coast of India are being implemented with an investment of Rs 11,752 crores. Also, 21,000 youths have already been trained under the coastal development programme and 37 fishing harbour projects are being developed with an outlay of Rs. 6,540 crores,” he added.
“Under the National Coastal Mission, an outlay of Rs 240 crores has been earmarked for development of marine litter management practices.” Mumbai Shipping industry experts see immense scope for India emerging as a Blue Economy.
Le Quang Bien, Consul General, Consulate General of Vietnam in Mumbai ,said, “Blue economy has been recognised globally as a solution to the resource crisis and a sustainable foundation for the future economic development. The Indo-Pacific region, plays a crucial strategic role in the global economy, being a vital route connecting many major markets all over the world.”
Le Quang Bien said that Vietnam is strategically located in the area with many of the fastest-growing economies in the world today, such as India, Japan, Korea, and ASEAN.
Strengthening marine cooperation including blue economies between our two countries will not only bring economic benefits, but also contributes to the stability, development, peace, and security for the region, he added.
Shantanu Bhadkamkar, Chairman of Maharashtra State Development Council (MSDC), Assocham, said, “Australia is dense on the east coast. There is hardly anything in the centre which shows that countries equally develop on coastlines… Oceans are important, and we have a huge coastline and huge exclusive economic zones which have to be developed for making India a $10 trillion economy.”
India occupies an important position in the global maritime industry with a coastline spanning 7517 kilometres that is home to 12 major ports and around 200 non-major ports handling around 1550 million tons of cargo per year.