The Indian Ocean as a Hub for the New Blue Economy and Sustainable Development
The Indian Ocean is emerging as a critical frontier for the 'Blue Economy,' focusing on sustainable ocean-based development. India's 'Blue Ocean Strategy' emphasizes stewardship of the commons, resilience against climate change, and inclusive growth. Key initiatives include the SAGAR (Security and Growth for All in the Region) vision and the proposed Indian Ocean Blue Fund. With COP30 in Belém and the upcoming UNOC3 in 2026, there is a global push for ocean governance. India aims to lead through green shipping corridors, blue bonds, and marine technology transfer while addressing threats like illegal fishing and ecosystem degradation.
Key Points
- The Blue Economy focuses on sustainable use of ocean resources for economic growth and improved livelihoods.
- India's SAGAR vision, articulated in 2015, provides a framework for regional maritime cooperation.
- The BBNJ Agreement (Biodiversity Beyond National Jurisdiction) is a key international treaty for ocean governance.
- India is proposing an Indian Ocean Blue Fund to channel financing into regional ocean priorities.
Exam Facts
- SAGAR vision launched: 2015
- COP30 location: Belém, Brazil
- 3rd UN Ocean Conference (UNOC3): 2026
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