- Blue Economy 2.0 is a blueprint to make further progress on India's existing initiatives to explore the potential of the Indian maritime blue economy.
- It aims to promote climate resilient activities (along with restoration and adaptation measures).
- It will emphasise on coastal aquaculture and mariculture in an integrated and multi-sectoral approach.
- Aquaculture includes cultivation of aquatic animals and plants in natural or controlled marine or freshwater environments.
- Mariculture is pertains to marine and estuarine (brackish) waters.
- Blue economy is the "sustainable use of ocean resources for economicgrowth, improved livelihoods, and jobs while preserving the health of ocean ecosystem."
- It involves tapping ocean resources for renewable energy, fisheries, ports, shipping, and tourism.
- India’s blue economy is estimated to be around $1 trillion.
- Factors limiting the development of Blue Economy:
- Threat to Maritime security e.g. recent Houthi attacks, etc.
- Climate change and Pollution due to human activities like use of plastics etc.
- Other: Lack of Infrastructure, high operating costs of shipping industry, high installation cost of tidal power plants etc.
- Other Steps taken:
- Deep Ocean Mission (mine the metals in the Indian oceans)
- Pradhan Mantri Matsya Sampada Yojana
- SAGARMALA project
- Draft Blue Economy Policy