Will India’s punch be able to hit China in earning from the sea? Understand what is the blue economy of success

Under the leadership of Prime Minister Narendra Modi, India has now approved a deep sea mission to promote Blue Economy. The government is planning to spend about Rs 4,077 crore on this. But the world’s blue economy is not new, many countries including China, Australia have done a lot in this economy. Even if we look at the report of the World Bank, it is known why now the Indian government also wants to focus on the blue economy. In fact, this will generate employment as well as now the government wants to focus on those areas where the work has not been done till now. In fact, the contribution of this sector to the world’s GDP is about $ 270 billion. Therefore, now India is also trying to make preparations to move forward through this sector.

According to the World Bank report, the ocean spread around the world contributes 5 percent to the world GDP. Actually, India’s coastline is very long, as well as India is a major country located in the Indian Ocean, in which the Bay of Bengal is located in the east and the Arabian Sea is located in the west. Keeping these things in mind, the Government of India had talked about the use of oceans in the budget. But do you know that many countries of the world, including China, Australia, have already gone a long way in this sector.

What does the World Bank report say

– Economic activity of 3 to 5 trillion is done through the oceans.

– 6 to 21 trillion goods and services are transported all over the world by sea

– Marine and Coastal Resources alone has a market value of close to 3 trillion

By the year 2015, about 2.5 trillion grass marine products have been worked.

Talking about OECD 2016, a growth of about 1.5 trillion has been registered in marine based industries.

– The oil and gas sector has a stake of 33 percent in this.

– Ocean and Coastal Tourism has a share of 26%

– 13% share is through port and 11% growth is through marine equipment

Opportunities and challenges for China

Blue economy is nothing new for China. For the first time under the 11th Five Year Plan, China showed its interest in earning from the Blue Economy i.e. sea. But there were many challenges before China in this five-year plan. Hence the next plan i.e. 12th In five years, China increased the speeding on it and then is increasing it further. However, there are many challenges before China in which its coastline has to be reduced to only 9000, although it has been worked on rapidly. At the same time, the Coastal Line of China is surrounded by the North Korean border in the north, while in the south it comes under the Vietnam border. Talking about earning from sea or emphasis on blue economy, since its inception from China till now, a lot of work has been done on it. On the other hand, talking about India, the most positive aspect of this is the immense resources that India has in this sector. Now it has to be seen whether India can give a punch to China on the Blue Economy in the next five years on the strength of its resources.

India China Blue Economy

India China Blue Economy

how is golden opportunity for india

Now India also wants to try its hand in this fast growing sector all over the world. It was said from the government that there will be immense opportunities for employment in this sector. According to the European Union’s Blue Economy Report 2020, about 5 million or 5 million people are employed in the blue economy sector and it is growing at the rate of 11.6 percent year on year.

How will India be ahead of neighbors

Talking about India’s two neighbors China and Pakistan, a lot of work has been done on Blue Economy in China. On the other hand, talking about Pakistan, no special work has been done on this front here. But if India implements this plan properly, then it can overtake the neighbors because India has…

The total length of the Indian coastline is 7516.6 km.

– The coastline has a coastal extension of 6300 km to the mainland

The combined coastal extension of the island area of ​​Andaman and Nicobar and Lakshadweep is 1,216.6 km.

In fact, the Ministry of Earth Sciences for India had drafted the Blue Economy after looking at this vast marine resources of India. Now by implementing this scheme, the government can beat its neighbors in this sector as well.

Blue Economy

Blue Economy

This is also a positive point for India

There are 9 states of the country which are bordered by sea borders.

There are 199 such ports where every year about 1400 million tonnes of business is done only by ships.

have been successful in these countries

Many countries have made better use of their blue economy, in which major countries like Australia, Brazil, United Kingdom are there. Now since India has huge reserves of ocean resources, India can move ahead through Blue Economy. With this, where people will get employment, the industry will also progress, due to which India’s economy can grow faster.

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