With 7,517 km long coastline, 1,382 islands and 4 million fishermen, India’s blue economy policy occupies a vital position in country’s economic growth. The sector could be the major business boost if a sustainable and socio-economic welfare plan is in place, as it has capability to be the next multiplier of country’s GDP.
The Comptroller and Auditor General of India (CAG) spoke about India’s marine wealth at a seminar on the challenges and opportunities in the blue economy at the CAG Office in New Delhi on Monday.
The CAG-hosted seminar was in line with the run-up to the SAI20 Engagement Group, a group of Supreme Audit Institutions of G20 countries, being organised as part of the G20 presidency of India.
The meeting had high-level representation from NITI Aayog, Chair of Federation of Indian Chambers of Commerce and Industry (FICCI), World Bank, National Centre for Sustainable Coastal Management and others.
Girish Chandra Murmu, CAG of India, highlighting the importance of the blue economy, which encompasses policies and operational dimensions aimed at producing food and energy, supporting livelihoods, and driving economic advancement and welfare, news agency ANI reported.
Addressing the gathering comprising experts from auditing and marine sectors Murmu said, “There are audit criteria and frameworks for auditing sub-sectors, such as, marine fisheries, coastal eco-system, aquaculture, coastal and marine tourism, biotechnology from marine resources and extraction of sea-bed mineral resources. Integrating them into a single auditing framework would be key to all Supreme Audit Institutions, including the SAI20 Engagement group.”
“SAIs can strive to scale up their efforts, develop study papers on the condition of the blue economy and make recommendations on how the governments can direct their efforts and policies for the sustainable development of the Blue Economy of their nations,” he said.
Commenting on the importance of blue economy, Avinash Mishra, Advisor, NITI Aayog, said, "Blue economy plays a vital role in the Indian economic system. It has great potential and we need to pay greater attention to it."
Rajiv Bhatia, FICCI Task Force on Blue Economy Ambassador said, "The subject of blue economy has a place for all of us - scientists, technologists, diplomats, business and policy-makers and the think tank community. By nature, it is a multi-dimensional, multi-disciplinary subject."
He put emphasis on maritime and naval security, and said, "Without it, we cannot think of stable development."
Tapas Paul, Lead Environmental Specialist at World Bank, mentioned technology, programme and policies that can determine the sustainability of blue economy. He called for gender equity in India's emerging blue economy planning.
Other experts like, Purvaja Ramachandran, Director of National Centre for Sustainable Coastal Management, and P Krishnan. Director of Bay of Bengal Project, stressed on harnessing of biotic resources.
In line with the theme of ‘Vasudhaiva Kutumbakam’ for the G20 Presidency, India is propagating the global goal of ‘One Earth, One Family, One Future’. For its deliberations, the CAG has selected two priority areas -- 'Blue economy' and 'Responsible AI'.
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