Can India become a Blue Economy?
Q. Niti Aayog is aiming for India to exploit its long coastline to become what kind of an economy?- Published on 27 Sep 16a. Marine
b. Sea
c. Ocean
d. Blue
ANSWER: Blue
Niti Aayog has started a consultation process for the integration of defence and internal security with a 15 year vision.
- The planning body has initiated a discussion to leverage India’s status as a major maritime nation with a long coastline and a potential to become a key blue economy
- BJP government, for the first time, has taken the decision to include these subjects in the plan process to create long term planning element for better preparation
- India has a naturally maritime strength with:
- coastline of 7500 km
- Above 2 million square km of EEZ
- More than 1300 islands and networks of the river
- India has a natural and strategic benefit
- Maritime trade accounts for 75 percent of the value of total trade and more than 90 percent of the volume of Indian trade
- Indian ship building industry is 17th in the world with South Korea, Japan and China way ahead
- It currently faces constraints such as inefficient tax structure and access related restrictions
- Deep sea fishing is another area where growth is possible.
