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In the second decade of the 21st century, Blue Economy has emerged as an exceedingly important, multidimensional concept. It has a direct bearing on the contemporary discourse concerning geo-economics and the imperative to increase productivity of oceanic and other water resources, Sustainable Development Goals (SDGs), and the challenge of ensuring maritime security against traditional and nontraditional threats. As the current decade unfolded, greater clarity emerged with regard to the meaning, contours and ends of Blue Economy, driven by the fundamental objective to enhance material welfare of the humankind while safeguarding environment.
Multiple studies and stakeholder consultations have led the Core Group to come out with this report: Blue Economy: Global Best Practices: Takeaways for India and Partner Nations. The document systematically examines and explains the performance, projected growth in terms of size and value, challenges and precise opportunities for capacity expansion and quality enhancement, including technology and process upgrades, in the relevant sectors of Blue Economy in India. The report also elaborates the global best practices relevant to India as also the innovative financing tools. The Core Group makes several practical recommendations for an effective way forward both for the government and businesses.